Company: FTCI
Filing Date: 2025-08-05
Form Type: 8-K
Source: 0000950170-25-102368
Chunk: 1

Company: FTC Solar, Inc.
Filing Date: 2025-08-05
Form: 8-K
Item: Item 5.02
Chunk 1
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Item 5.02      Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers  

On August 5, 2025, the Company also announced that Mr. Dean Priddy, a member of the Board of Directors of the Company has stepped down from the Board, effective August 4, 2025. Mr. Priddy was Chair of the Board's Audit Committee and had also served on the Compensation Committee and Nominating and Governance Committee of the Board. Mr. Priddy's resignation was due to his retirement and was not due to any disagreement with the Company on any matter relating to the Company's operations, policies or practices.

In addition, the Company announced that Mr. Tony Alvarez, who had served as a Board Observer since July 2023, has been appointed as an Independent Director, effective August 5, 2025, and will replace Mr. Priddy as Chair of the Company's Audit Committee. Mr. Alvarez will serve as a Class III director with a term of office expiring at the 2027 annual meeting of the stockholders of the Company or upon his earlier death, resignation, retirement, disqualification or removal.

In connection with the appointment, Mr. Alvarez will enter into an indemnification agreement with the Company in substantially the same form as the Company has entered into with its other directors.

There is no arrangement or understanding between Mr. Alvarez and the Company or any other person pursuant to which he was appointed as a director. As of the date of the appointment, Mr. Alvarez has not entered into or proposed to enter into any transactions required to be reported under Item 404(a) of Regulation S-K.