Company: FTCI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0000950170-25-047224
Chunk: 267

Company: FTC Solar, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 5
Chunk 267
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    Weighted-average exercise price of outstanding options, warrants and rights

    Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a))

    (a)

    (b)

    (c)

    Equity compensation plans approved by security holders:

    Stock options

    219,653

    $
    19.73

    N/A

    Restricted stock units

    1,057,466

    —

    N/A

    Equity compensation plans not approved by security holders:

    Restricted stock units

    650,000

    —

    —

    Total

    1,927,119

    $
    19.73

    613,024

On July 1, 2022, we filed a registration statement on Form S-8 to register 500,000 (on a post-split basis) shares of common stock for issuance upon the settlement of RSUs and the exercise of stock options previously granted under 

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the 2017 Plan that remain outstanding. No new awards have been or will be granted under the 2017 Plan following the effectiveness of our 2021 Plan on April 27, 2021. 

The number of shares initially reserved for issuance under the 2021 Plan was 1,264,524 (on a post-split basis), which will automatically increase on January 1 of each calendar year prior to the tenth anniversary of the Plan's effective date in an amount equal to the lesser of (i) 4% of the total number of shares of common stock outstanding on the day prior (December 31st), and (ii) a number of shares of common stock determined by the compensation committee of the Company's board of directors. Through December 31, 2024, an additional 1,292,392 shares (on a post-split basis) became available for issuance pursuant to the automatic increase provisions of the 2021 Plan, resulting in a total number of shares authorized for issuance under the 2021 Plan of 2,556,916 (on a post-split basis).

Our board of directors also adopted the 2021 Employee Stock Purchase Plan ("2021 ESPP Plan") concurrent with our 2021 Plan in order to provide our employees and our designated subsidiaries with an opportunity to purchase our common stock through accumulated payroll deductions at 85% of the stock's fair market value. As of December 31, 2024, this plan had not yet been implemented