Manning Neil 4

What Happened

• Neil Manning, President & COO of Array Technologies (ARRY), received a grant of 41,299 restricted stock units (RSUs) on March 12, 2026. The filing also shows the conversion/settlement of 8,217 derivative units on the same date.
• To satisfy tax withholding related to the settlement, 2,611 shares were withheld at $6.80 per share (withholding value reported as $17,755). Several entries in the filing list the derivative conversion/exercise and a corresponding disposition entry; the grant itself is reported as an award (A) at $0.00 (standard for RSU awards).

Key Details

• Transaction date: March 12, 2026; Form 4 filed March 16, 2026 (filed 4 days after the transaction — Form 4s are generally required within 2 business days).
• Grant: 41,299 RSUs (code A); vesting: three equal annual installments beginning on the first anniversary of the grant (per footnote).
• Settlement/conversion: 8,217 derivative units reported as exercised/converted (codes M); 2,611 shares withheld for taxes (code F) at $6.80/share = $17,755.
• Footnotes: F1 defines RSUs (one share per unit on vesting); F2 confirms shares were withheld to satisfy tax withholding based on the March 12 close price; F3 references a March 12, 2024 grant of 24,650 RSUs (vesting over three years); F4 documents the March 12, 2026 grant of 41,299 RSUs; F5 notes there are additional unvested RSUs (125,111) plus the 8,217 unvested units referenced.
• Shares owned after the transaction: not specified in the provided filing summary.

Context

• These entries reflect executive compensation activity (RSU grant and settlement) rather than an open-market buy or voluntary sale. The withholding of 2,611 shares to cover taxes is a common cashless-type settlement practice and should not be read as a bearish sale signal.
• For retail investors, note that awards and settlements are routine compensation events; purchases are generally more informative about insider sentiment than routine grants or tax withholdings.