Jennings H. Keith 4

What Happened
Jennings H. Keith, Chief Financial Officer of Array Technologies (ARRY), had 40,782 restricted stock units convert to common shares on March 18, 2026. The issuer withheld 11,614 of those shares to satisfy tax withholding obligations (calculated at $6.86/share, totaling $79,672), leaving a net increase of 29,168 shares to Keith’s holdings. The derivative conversion lines on the Form 4 reflect the RSU settlement rather than an open-market sale.

Key Details

• Transaction date: March 18, 2026; Form 4 filed March 19, 2026 (timely filing).
• Converted/received: 40,782 shares from RSU vesting (derivative conversion).
• Tax withholding: 11,614 shares withheld at $6.86/share = $79,672 (disposed to issuer to cover taxes).
• Net new shares received: 29,168 (40,782 − 11,614).
• Relevant footnotes:
  • F1/F3 — These were restricted stock units (RSUs) from a March 18, 2025 grant of 122,349 RSUs that vest in three equal annual installments; this transaction represents the first installment.
  • F2 — Withholding number based on the closing price on March 18, 2026.
  • F4 — Does not include 157,337 unvested RSUs held from other grants.
• Shares owned after the transaction are not specified in the provided excerpt.

Context
This was a routine RSU vesting and tax-withholding event (conversion of derivative awards), not an open-market purchase or discretionary sale. The $0.00 price on a derivative line indicates settlement of the RSU into shares rather than a cash exercise. Purchases or sales were not executed in the open market as part of this filing.