Company: ARRY
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0001140361-25-012865
Chunk: 41

Company: Array Technologies, Inc.
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 41
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 connection with change in control (as defined in the Executive Severance Plan), all unvested RSUs granted in 2024 will continue to vest in accordance with their terms as if the NEO had continued to remain employed by the Company on each applicable subsequent vesting date and, upon a qualifying termination upon or within 24 months following a change in control or upon the NEO’s termination of employment due to death or disability, all unvested RSUs granted in 2024 will become immediately vested as of the separation date.

| ARRAY TECHNOLOGIES |     | 37 |     | 2025 PROXY STATEMENT |

TABLE OF CONTENTS COMPENSATION DISCUSSION AND ANALYSIS

PSUs In February 2025, our Human Capital Committee completed the evaluation of the results of the 2022-2024 performance period and determined that none of the performance levels were achieved for any of the established performance metrics. As a result, none of the PSUs granted to our NEOs in 2022 vested. The performance metrics and goal achievement for the 2022-2024 performance period were as follows:

|                                    |     | METRIC PERFORMANCE SCALE |     |        |     |         |     | PERFORMANCE LEVEL 
 ACHIEVED          |     |  PAYOUT 
 (AS A % 
      OF 
 TARGET) |
| METRIC                             |     |                THRESHOLD |     | TARGET |     | STRETCH |     |                   |     |         |
| 3-Year Average Revenue Growth (%)  |     |                     17.6 |     |   22.6 |     |    25.6 |     | None              |     |       0 |
| 3-Year Cumulative Adjusted EPS ($) |     |                     2.77 |     |   3.26 |     |    3.75 |     | None              |     |       0 |
| RTSR Modifier                      |     |                          |     |        |     |         |     | N/A               |     |         |
| Total                              |     |                          |     |        |     |         |     |                   |     |       0 |

The PSUs granted to our NEOs in 2024 vest on the third anniversary of the date of grant, subject to the achievement of corporate financial results and relative market performance over the 2024-2026 performance period, and generally subject to the NEO’s continued employment through the vesting date. Specifically, performance