Company: ARRY
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0001140361-25-012865
Chunk: 46

Company: Array Technologies, Inc.
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 46
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 vesting or settlement of equity awards or exercise of stock options until compliance with the stock ownership guidelines is attained. All of our NEOs were in compliance or on track to be in compliance with the stock ownership guidelines as of December 31, 2024. ASSESSMENT OF RISK AND RECOVERY OF COMPENSATION Our Human Capital Committee, Nominating and Corporate Governance Committee, Audit Committee and Board employ a risk management process conducted periodically to ensure that potential risks that might arise from any of our executive compensation practices and policies do not result in potential adverse impact on the Company, financially or otherwise. Our Human Capital Committee, with the assistance of Pay Governance, has reviewed the policies and guidelines underlying our executive compensation determinations and concluded that the following factors promote the creation of long-term value and thereby discourage behavior that leads to excessive or unnecessary risk:

| • | individual cash incentives are made within the boundaries of approved fixed maximum awards as applicable to each executive officer; |

| • | the performance metrics under our short-term incentive program are distinct and separate from the metrics under our long-term incentive program, thereby ensuring there is no duplicative compensation opportunity for attainment of the same performance metric; |

| • | the members of our Human Capital Committee who approve final bonus recommendations are independent; |

| • | executive officers receive the majority of their total direct compensation in the form of long-term incentives with multi-year vesting to align the interests of our executive officers with long term value creation for our stockholders; and |

| • | executive officers are subject to robust stock ownership guidelines, further ensuring their long-term wealth is tied to long-term Company performance. |

Based on our review, we have determined our compensation programs and practices are not reasonably likely to have a material adverse effect on the Company. In addition, we maintain a clawback policy in compliance with the requirements of the Dodd-Frank Act, SEC rules and applicable Nasdaq listing standards, that requires recoupment of excess incentive compensation paid to current or former executive officers (including all of our NEOs) if amounts were based on material noncompliance with any financial reporting requirement that causes an accounting restatement, without regard to any fault or misconduct. POLICIES AND PRACTICES RELATED TO THE TIMING OF EQUITY GRANTS We generally grant annual RSU and PSU awards to our executive officers in March of each year, although the exact timing may change from year to year.Our Human Capital Committee may also grant equity awards at different times of the year for new hires, in connection with promotions,