Collins Terrance L 4
4 · Array Technologies, Inc. · Filed Mar 16, 2026
Research Summary
AI-generated summary of this filing
Array (ARRY) CHRO Terrance Collins Receives RSU Award
What Happened
Terrance L. Collins, Chief Human Resources Officer of Array Technologies (ARRY), had multiple equity events reported for March 12, 2026. The filing shows a new grant of 41,299 restricted stock units (RSUs). The report also shows the conversion/exercise of 8,628 derivative units (RSU/option conversion) and a contemporaneous withholding of 2,818 shares to satisfy tax obligations (withheld shares valued at $6.80 each, totaling $19,162). These transactions were reported on a Form 4 filed March 16, 2026.
Key Details
- Transaction date: March 12, 2026; Form 4 filed March 16, 2026 (timely filing).
- New grant: 41,299 RSUs (code A) granted, $0.00 per share listed (RSUs, not an open-market purchase). Vesting: three equal annual installments beginning on the first anniversary of the grant (per footnote).
- Conversion/exercise: 8,628 derivative units (code M) converted/exercised on March 12, 2026.
- Tax withholding: 2,818 shares were withheld to satisfy tax obligations (code F) at $6.80 per share = $19,162.
- Holdings context: The filing notes additional unvested RSUs held by Collins from prior grants (e.g., 116,932 unvested RSUs from other grants plus the 8,628 referenced above). The new 41,299 RSUs vest over three years.
- Filing timeliness: The Form 4 was filed within the standard two-business-day window.
Context
- These entries reflect equity compensation activity (grants, RSU conversions and tax withholding), not open-market purchases or sales. Withholding of shares to cover taxes is routine when RSUs vest/settle and should not be interpreted as a traditional sale decision.
- The new RSU grant vests over time (three equal annual installments), so the economic interest is subject to future vesting conditions.
Insider Transaction Report
Form 4
Collins Terrance L
Chief Human Resources Officer
Transactions
- Exercise/Conversion
Common Stock, par value $0.001 per share
[F1]2026-03-12+8,628→ 47,053 total - Tax Payment
Common Stock, par value $0.001 per share
[F2]2026-03-12$6.80/sh−2,818$19,162→ 44,235 total - Exercise/Conversion
Restricted Stock Units
[F1][F3]2026-03-12−8,628→ 8,628 total→ Common Stock, par value $0.001 per share (8,628 underlying) - Award
Restricted Stock Units
[F1][F4][F5]2026-03-12+41,299→ 41,299 total→ Common Stock, par value $0.001 per share (41,299 underlying)
Footnotes (5)
- [F1]Each restricted stock unit represents the right to receive, upon vesting, one share of the Issuer's common stock in accordance with the Issuer's 2020 Long-Term Incentive Plan.
- [F2]Represents shares withheld by the Issuer to satisfy tax withholding obligations in connection with the vesting and settlement of restricted stock units. The number of shares withheld is based on the closing price of the Issuer's common stock on March 12, 2026.
- [F3]On March 12, 2024, the reporting person was granted 25,883 restricted stock units, vesting in three equal annual installments, beginning on the first anniversary of the grant date.
- [F4]On March 12, 2026, the reporting person was granted 41,299 restricted stock units, vesting in three equal annual installments, beginning on the first anniversary of the grant date.
- [F5]Does not include: (i) 116,932 unvested restricted stock units held by the reporting person in connection with grants made on separate dates; or (ii) the 8,628 unvested restricted stock units reported above.
Signature
/s/ Ashton Wiebe as Attorney-in-Fact|2026-03-16