Company: FTCI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0000950170-25-047224
Chunk: 338

Company: FTC Solar, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 338
---
 service-based vesting conditions or (ii) a combination of market or performance and service-based vesting conditions, which must be met in order to vest. Awards with service-based vesting conditions generally vest over a period of three to four years from the date of grant. Awards with market or performance-based vesting conditions will generally vest upon achievement of the related targets, providing the employee continues to be employed at the date of vesting. Performance conditions in certain of our outstanding awards are based on the recipient achieving specified sales metrics whereas, market conditions in certain outstanding awards are based on the closing price of our common stock achieving specified levels for a period of time.Generally, new shares of authorized common stock are issued to satisfy vesting or exercise of awards under both the 2017 and 2021 Stock Incentive Plans, although treasury shares are also available for issuance at our discretion.Stock compensation expense for each period was as follows:

        Year ended December 31,

        (in thousands)
         
        2024

        2023

        Cost of revenue
         
        $
        902

        $
        1,596

        Research and development

        344

        541

        Selling and marketing

        345

        718

        General and administrative

        3,821

        5,440

        Total stock compensation expense
         
        $
        5,412

        $
        8,295

86

Information relating to our outstanding option awards was as follows:

        Options
         
        Shares(*)

        Weighted-average exercise price(*)

        Weighted-average remaining contractual term (in years)

        Intrinsic value (in thousands)

        Outstanding as of December 31, 2023

        241,553

        $
        18.20

        Granted

        1,200

        $
        4.90

        Exercised

        (12,629
        )
         
        $
        0.69

        Forfeited

        (512
        )
         
        $
        4.90

        Expired

        (9,959
        )
         
        $
        4.75

        Outstanding as of December 31, 2024

        219,653

        $
        19.73

        6.30

        $
        240

        Vested at December 31, 2024 or expected to vest in