Company: ARRY
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0001140361-25-012865
Chunk: 48

Company: Array Technologies, Inc.
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 48
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160,000 |     |   937,753 |     |              161,500 |     |    15,780(9) |     | 1,615,033 |

| 1. | For 2022, these amounts represent the sum of cash buy-out awards and relocation cash payments awarded in 2022 to each of Messrs. Hostetler and Collins, per the terms of their offer letters. For 2023, these amounts represent the cash portion of buyout awards made to Messrs. Wood and Manning and a relocation cash payment made to Mr. Manning per the terms of their respective offer letters. For 2024, this amount includes the $75,000 relocation cash payment and $85,000 sign-on payment for Mr. Zhu, each per the terms of his offer letter. |

| 2. | Amounts reported in the “Stock Awards” column reflect the aggregate grant date fair value, computed in accordance with FASB ASC Topic 718, excluding the effect of estimated forfeitures, of RSUs and PSUs granted to our NEOs. The grant date fair value of the awards is calculated using the closing price of our common stock on the date of grant (and, in the case of PSUs, determined using a Monte-Carlo model for each award on the date of grant and based on the probable outcome of the associated performance conditions). Please see Note 18 “Equity-Based Compensation and Other Benefit Plans” in our consolidated financial statements for the year ending December 31, 2024, included in our Annual Report on Form 10-K, for additional details regarding assumptions underlying the value of these awards. With respect to PSUs granted to Messrs. Hostetler, Wood, Manning, Collins, and Zhu in 2024, the values shown in the table above reflect the grant date fair values based on the probable outcome of the performance goals associated with such awards. The grant date fair value of each award if all applicable performance goals associated with such awards were achieved at maximum levels is $5,466,520 for Mr. Hostetler, $1,499,983 for Mr. Wood, $799,964 for Mr. Manning, $839,960 for Mr. Collins, and $449,999 for Mr. Zhu, calculated using the closing price of our common stock on May 21, 2024, the date of grant. |

| 3. | Represents amounts payable to the NEOs under the LIP and, with