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FIRST SOLAR, INC.·4

Mar 10, 8:54 PM ET

Koralewski Michael 4

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First Solar (FSLR) Chief Supply Chain Officer Michael Koralewski Sells Shares

What Happened
Michael Koralewski, Chief Supply Chain Officer at First Solar (FSLR), had restricted stock units (RSUs) vest and converted to common shares on March 6, 2026. A total of 1,854 shares were issued upon conversion/vesting (recorded as conversions of derivative securities). Following the vesting, 756 shares were sold (sell‑to‑cover for tax withholding) in open‑market transactions on March 9, 2026 at $190.36 per share, generating aggregate proceeds of $143,912. The filing also reports a new RSU grant of 1,903 shares on March 6, 2026 (subject to future vesting).

Key Details

  • Transaction dates and prices:
    • 2026-03-06: Conversion/vesting of 1,854 RSU‑equivalent shares (reported at $0.00 acquisition cost).
    • 2026-03-09: Open‑market sales of 265, 78, 180 and 233 shares at $190.36 each (total 756 shares) for $143,912.
    • 2026-03-06: Grant of 1,903 RSUs (new award) recorded.
  • Net effect: 1,854 shares vested; 756 of those were sold to satisfy tax withholding (sell‑to‑cover), leaving a net 1,098 vested shares retained by the insider (based on transactions reported).
  • Footnotes / vesting rules:
    • The vested shares reflect scheduled vesting of prior RSU grants (various annual vesting schedules: 20% or 25% per year depending on the grant date).
    • The 1,903‑share grant (3/6/2026) vests 25% annually beginning on the first anniversary (per footnote).
    • Footnote indicates the share sales were to satisfy tax withholding on RSU vesting (sell‑to‑cover).
  • Shares owned after transaction: Not specified in the provided filing excerpt.
  • Timeliness: Filing date 2026-03-10 covers transactions on 3/6 and 3/9 — the Form 4 was filed promptly (not marked late).

Context
These transactions are largely routine RSU vesting and sell‑to‑cover activity. The $0.00 acquisition price for the converted shares indicates conversion of RSUs (not a cash exercise of priced options). The subsequent sale of a portion of vested shares to cover taxes is common and does not necessarily indicate a view on company prospects. The filing also shows a new RSU award that will vest over future years per First Solar’s executive grant schedule.