Company: ARRY
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0001140361-25-012865
Chunk: 40

Company: Array Technologies, Inc.
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 40
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     |     | ​422,663      |
| Terrance Collins |     | ​1,073,789 |     |   314,996 |     | ​314,998     |     | ​443,795      |
| James Zhu        |     | ​937,753   |     |   474,995 |     | ​225,000     |     | ​237,758      |

| 1. | For 2024, the number of RSUs awarded was determined by dividing the target aggregate grant date fair value of the award by our closing stock price on the date of grant. For Mr. Zhu, the amount reported in the column titled “Grant Date Fair Value of Annual RSU Grants” includes a one-time grant of RSUs with a grant date fair value of $249,996 in connection with his promotion to Chief Accounting Officer. |

| 2. | For 2024, the number of PSUs (at target level of performance) awarded was determined by dividing the target aggregate grant date fair value of the award by our closing stock price on the date of grant. The actual grant date fair value of the PSUs is calculated using a Monte-Carlo model and is based on the probable outcome of the associated performance conditions. |

RSUs The annual RSUs granted to our NEOs in 2024 vest in one-third increments on each of the first three anniversaries of the date of grant, generally subject to the NEO’s continued employment through the applicable vesting date. On March 19, 2024, Mr. Zhu was granted a one-time RSU grant, with a target grant date fair value of $250,000 in connection with his appointment as our Chief Accounting Officer. The grant vests in its entirety on the third anniversary of the grant date, generally subject to Mr. Zhu’s continued employment with the Company through the vesting date. On September 24, 2024, the Human Capital Committee also approved the Supplemental RSU Grant to each of our currently employed NEOs with the purpose of encouraging long-term retention. To encourage retention, the RSUs granted under this supplemental award do not vest until the second anniversary of the date of grant (as to 66 2/3% of the RSUs) and vest as to the remaining RSUs on third anniversary of the grant date, generally subject to the NEO’s continued employment through the applicable vesting date. Pursuant to the terms of the Executive Severance Plan, upon a qualifying termination not in