Collins Terrance L 4

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.