Company: FTCI
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0000950170-25-061051
Chunk: 23

Company: FTC Solar, Inc.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 23
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 under the rules of Nasdaq. In making these determinations, our Board of Directors considered the current and prior relationships that each director has with our Company and all other facts and circumstances our Board of Directors deemed relevant in determining their independence, including the beneficial ownership of our capital stock by each director, and the transactions involving them described in the section titled “Certain Relationships and Related Person Transactions.”

Board Committees

Our Board of Directors has an Audit Committee, a Compensation Committee and a Nominating and Corporate Governance Committee. The composition and responsibilities of each committee are described below. Our Board of Directors may also establish from time to time any other committees that it deems necessary or desirable. Members serve on these committees until their resignation or until otherwise determined by our Board of Directors.

Audit Committee

Our Audit Committee consists of Dean Priddy, Pablo Barahona and Shaker Sadasivam, with Mr. Priddy serving as chair. Our Audit Committee is responsible for, among other things:

selecting and hiring our independent auditors, and approving the audit and non-audit services to be performed by our independent auditors;

assisting the Board of Directors in evaluating the qualifications, performance and independence of our independent auditors;

assisting the Board of Directors in monitoring the quality and integrity of our financial statements and our accounting and financial reporting;

assisting the Board of Directors in managing risks associated with cybersecurity threats, providing oversight of management's cybersecurity risk management efforts, participating in strategic decisions and providing approvals of major initiatives related to cybersecurity (see "Part I, Item 1C. Cybersecurity" in our 2024 Annual Report to Shareholders for further information on our risk management, strategy and governance relating to cybersecurity);

assisting the Board of Directors in monitoring our compliance with legal and regulatory requirements;

reviewing with management and our independent auditors the adequacy and effectiveness of our internal control over financial reporting processes;

assisting the Board of Directors in giving directions to and actively monitoring the performance of our internal audit function, which reports directly to the Audit Committee with "dotted line" reporting to management;

reviewing with management and our independent auditors our annual and quarterly financial statements;

assisting the Board of Directors in reviewing the design and operation of our management information systems, including plans for system upgrades and enhancements;

reviewing and overseeing all transactions between us and a related person for which review, or oversight is required by applicable law or that are required to be disclosed in our financial statements or SEC filings, and developing policies and procedures for the committee’s review, approval