Company: ARRY
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0001140361-25-012865
Chunk: 22

Company: Array Technologies, Inc.
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 22
---
 purchase of our Series A Perpetual Preferred Stock under a Securities Purchase Agreement (the “SPA”), dated August 10, 2021, between the Company and BCP Helios Aggregator L.P., an investment vehicle of funds associate with Blackstone, Inc. The SPA stipulated that all compensation paid to the Blackstone nominee for service on our Board is to be paid in cash. As a result, Mr. Khan did not receive any stock awards in 2024, and he was instead awarded “phantom” RSUs with a grant date fair value of $170,000 and payable in cash based upon the Company’s stock price on the vesting date, which is on the first anniversary of the grant date. In accordance with the terms of the SPA, as of March 31, 2025, Blackstone no longer has registration rights, Board observer rights or the right to designate a nominee for election to our Board. |

| 4. | Represents phantom RSUs with a grant date of May 23, 2023 and a grant date fair value of $170,000, which were payable in cash based upon the Company’s stock price on the vesting date of May 23, 2024. |

Sustainability Matters The Nominating and Corporate Governance Committee of the Board oversees our sustainability strategy, which aims to understand our stakeholder needs through regular engagement and to prioritize those sustainability topics that pose the greatest risks and opportunities to our business. In 2024, we continued to advance our sustainability strategy and reporting with a focus on engaging with our teams in Europe and South America to better consolidate the management and collection of sustainability data. Through our sustainability working group and steering committee, we continued to implement enhanced systems for data collection to drive consistency, accuracy and completeness in our sustainability reporting across our growing global footprint. With an increase in the number of emerging regulations and related customer demands, particularly in the European Union, we spent much of 2024 assessing the applicability of these regulations and preparing to meet our sustainability reporting obligations and provide transparency as a supplier to our customers. We are working to continually improve our procedures and controls for sustainability reporting to meet these regulations, including preparing for future assurance of certain sustainability data under final rule requirements. Climate strategy in particular is an area where we and our partners are deeply committed to improving data availability and integrated planning. In 2024, we engaged with our customers and suppliers to better support our value chain partners in improving data availability and aligning strategies to drive decarbonization. We