Company: ARRY
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0001140361-25-012865
Chunk: 45

Company: Array Technologies, Inc.
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 45
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 included payment of management life insurance premiums, executive physicals, and certain relocation payments. The amounts are included in the Summary Compensation Table below. In connection with his commencement of employment in December 2023, Mr. Zhu received a one-time cash payment of $75,000 to assist with relocation expenses. Mr. Zhu also received a one-time cash sign-on bonus of $85,000, which was paid in 2024. Each of the relocation payment and sign-on bonus is subject to pro-rated repayment by Mr. Zhu if his employment is terminated for cause or if he resigns without good reason within 18 months of his employment commencement date.

| ARRAY TECHNOLOGIES |     | 39 |     | 2025 PROXY STATEMENT |

TABLE OF CONTENTS COMPENSATION DISCUSSION AND ANALYSIS

STOCK OWNERSHIP GUIDELINES Our stock ownership guidelines are designed to assist in aligning the financial interests of the directors and senior employees with our stockholders and to promote sound corporate governance practices. Our stock ownership guidelines apply to our executive officers, including each of our currently employed NEOs. Each executive officer must maintain ownership of shares of common stock with a fair market price equal to a multiple of the executive officer’s annual base salary, as follows:

| • | for our CEO, six times his annual base salary; and |

| • | for executive officers other than our CEO, three times his or her annual base salary. |

Common stock underlying RSUs and deferred shares or share units held by executive officers is considered owned for purposes of determining stock ownership levels under the stock ownership guidelines. Common stock underlying unexercised stock options and unearned performance-based equity awards held by our executive officers is not considered owned for purposes of determining stock ownership levels under the stock ownership guidelines. Our executive officers are required to comply with the guidelines by the later of (i) June 8, 2026, or (ii) within five years from the date the individual becomes an executive officer, as applicable, is promoted to a position that causes the covered individual to be subject to a greater ownership requirement or is otherwise designated as a covered individual. Upon achieving his or her respective minimum ownership requirement based on the fair market value of the shares held, each executive officer must continue to maintain the minimum ownership requirement at all times during a given calendar year and for so long as the covered individual remains subject to this policy. An executive officer who does not meet the minimum holding requirement must retain 50% of the net number of shares acquired upon