Company: FTCI
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0000950170-25-061051
Chunk: 47

Company: FTC Solar, Inc.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 47
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 occasions in the past, and may continue to do so in future, grant equity-based compensation in the form of stock option awards and restricted stock awards, The grant date fair value of awards made during 2024 and 2023 to the Named Executive Officers is set forth in the Summary Compensation Table above. Additional information regarding awards made to the Named Executive Officers under the Company’s equity plans and which remained outstanding as of December 31, 2024 is detailed in accordance with SEC rules in the Outstanding Equity Awards as of 2024 Fiscal Year-End table below. In determining the timing and terms of grants of equity-based compensation, unless such awards are on a predetermined schedule, including employment dates in which new employees receive an initial equity award upon joining the Company, we take into account whether material nonpublic information exists and the timing of disclosure of such information in order to attempt to mitigate to the extent possible any effect on the value of the equity-based compensation from disclosure of such information.

Mr. Brandt.In 2024, in order to induce Mr. Brandt join the Company as our President and Chief Executive Officer, we issued Time-Based RSUs with a grant date fair value of $980,800 and Share-Target RSUs with a grant date fair value of $52,225 upon the commencement of his employment on August 19, 2024, as described further in the section entitled "Employment Agreements with Named Executive Officers" above. These awards were issued outside of our 2021 Plan. A total of 25% of the Time-Based RSUs vested on the grant date and the remainder will vest in equal monthly installment over 36 months following the grant date. The Share-Target RSUs will vest in accordance with the vesting calculation rules set forth in the Employment Agreement on the next subsequent anniversary of the grant date during the four-year performance period during which a Price Hurdle is achieved.

Other Named Executive Officers.In 2024, Ms. Behnen received time-based RSUs upon her appointment as Chief Financial Officer on February 12, 2024, with a grant date fair value of $141,120. No other equity awards were issued to the other Named Executive Officers in 2024. In 2023, Mr. Aminpour received awards of RSUs under the 2021 Plan (i) in lieu of his cash bonus earned during the first quarter of 2023 valued at $54,148, (ii) for an annual grant in June 2023 valued at $1