Company: FTCI
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0000950170-25-061051
Chunk: 38

Company: FTC Solar, Inc.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 38
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3, Mr. Sadasivam as the Chair of our Board of Directors assumed certain responsibilities of the principal executive officer of the Company, limited solely to signing of the Company's annual and quarterly reports. These responsibilities continued until Mr. Brandt's appointment as President and Chief Executive Officer on August 19, 2024. Mr. Sadasivam did not receive any additional compensation with respect to these services. All compensation reported for Mr. Sadasivam in the Summary Compensation Table above was paid with respect to his services as a director pursuant to our regular director compensation program, as described in the section entitled “ Director Compensation ” above. In total, Mr. Sadasivam (a) in 2024 received an annual grant of RSUs valued at $44,076 with respect to his service as a director and a cash retainer of $95,000, and (b) in 2023, received an annual grant of RSUs valued at $160,000 with respect to his service as a director, an RSU grant in lieu of his annual cash retainer as a director with a grant date fair value of $75,403, and health insurance benefits as a director in an amount totaling $20,096.

Mr. Brandt was appointed President and Chief Executive Officer, effective August 19, 2024. For 2024, Mr. Brandt's earned salary was paid in cash and he received in cash a portion of his upfront and incremental sign-on bonuses, as described further in the section entitled " Employment Agreements with Named Executive Officers " below. During 2024, Mr. Brandt earned an $825,000 sign-on bonus and the first installment of an incremental sign-on bonus totaling $275,000 due on October 1, 2024, per the terms of his Employment Agreement. At December 31, 2024, the Company had paid Mr. Brandt a total of $550,000 and owed Mr. Brandt the remainder of his upfront and incremental sign-on bonuses totaling $550,000, which are expected to be paid in 2025. Mr. Brandt also received initial equity awards upon joining the Company consisting of time-based RSUs with a grant date fair value of $980,800 and RSUs which vest based on the occurrence of certain target price hurdles of our common stock valued at $52,225.

Mr. Aminpour was named Chief Operating Officer effective March 1, 2023. For 2024, Mr.