Company: ARRY
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0001140361-25-012865
Chunk: 52

Company: Array Technologies, Inc.
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 52
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 the third anniversary of the date of grant based on specified performance criteria over the 2022-2024 performance period. 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. |

| 5. | Represents the threshold number of shares subject to PSU awards that were granted in 2024 and 2023 pursuant to our LTIP. PSUs granted in 2024 vest on the third anniversary of the date of grant, subject to both the attainment of the performance requirements detailed in the Compensation Discussion & Analysis section above and, generally, the NEO’s continued employment through the applicable vesting date. For Mr. Wood, the number of shares reported reflects the pro-rata portion of his 2024 PSU award that remained outstanding as of December 31, 2024 pursuant to the terms of the Transition Agreement. PSUs granted in 2023 vest on the third anniversary of the date of grant, subject to the achievement of corporate financial results and relative market performance over the 2023-2025 performance period (50% based on three-year average annual revenue growth and 50% based on three-year cumulative adjusted EPS), and, generally, the NEO’s continued employment through the applicable vesting date. |

| 6. | This RSU award vests as to 100% on the third anniversary of the grant date, generally subject to Mr. Zhu’s continued employment through the vesting date. |

OPTION EXERCISES AND STOCK VESTED DURING 2024

| NAME                |     |   STOCK AWARDS(1) |     |         |
| NUMBER OF SHARES    
 ACQUIRED ON VESTING 
 (#)                 |     | VALUE REALIZED ON 
           VESTING 
               ($) |     |         |
| Kevin Hostetler     |     |            70,943 |     | 804,958 |
| Kurt Wood           |     |                 — |     |       — |
| Neil Manning        |     |             8,629 |     | 114,224 |
| Terrance Collins    |     |            11,232 |     | 124,433 |
| James Zhu           |     |                 — |     |       — |

| 1. | The value realized on vesting is determined