Hostetler Kevin G. 4
4 · Array Technologies, Inc. · Filed Mar 19, 2026
Research Summary
AI-generated summary of this filing
Array (ARRY) CEO Kevin Hostetler Receives RSU Shares
What Happened
Kevin G. Hostetler, CEO of Array Technologies (ARRY), had restricted stock units (RSUs) vest and convert into 160,217 shares on March 17–18, 2026 (35,150 on 3/17 and 125,067 on 3/18). To satisfy tax withholding, the company withheld 14,711 shares on 3/17 (withholding price $6.99, value $102,830) and 52,341 shares on 3/18 (withholding price $6.86, value $359,059), for a total tax-withheld cash value of $461,889. The RSU settlements are reported as derivative exercises (code M) and the withholding as tax payment (code F).
Key Details
- Transaction dates: March 17, 2026 (35,150 shares vested; 14,711 withheld) and March 18, 2026 (125,067 shares vested; 52,341 withheld).
- Withholding prices and amounts: 14,711 shares @ $6.99 = $102,830; 52,341 shares @ $6.86 = $359,059; total ≈ $461,889.
- Gross shares issued on vesting: 160,217; shares withheld for taxes: 67,052; net new shares retained by Hostetler: 93,165.
- Footnotes: RSUs granted under the 2020 Long-Term Incentive Plan. Grants referenced: 105,448 RSUs (granted 3/17/2023) and 375,203 RSUs (granted 3/18/2025). Filing notes an additional 632,287 unvested RSUs from other grants.
- Transaction codes: M = exercise/conversion of derivative (RSU settlement); F = tax withholding to satisfy tax obligations.
- Filing: Form 4 filed March 19, 2026; transactions appear to be reported timely.
Context
These transactions reflect routine RSU vesting and a cashless withholding for taxes (company retained shares rather than a market sale). Withheld shares to cover taxes are not the same as an open-market sale and do not necessarily indicate CEO sentiment about the stock. For investors, outright purchases by insiders tend to be more informative than routine vesting and tax-withholding events.
Insider Transaction Report
- Exercise/Conversion
Common Stock, par value $0.001 per share
[F1]2026-03-17+35,150→ 266,251 total - Tax Payment
Common Stock, par value $0.001 per share
[F2]2026-03-17$6.99/sh−14,711$102,830→ 251,540 total - Exercise/Conversion
Common Stock, par value $0.001 per share
[F1]2026-03-18+125,067→ 376,607 total - Tax Payment
Common Stock, par value $0.001 per share
[F3]2026-03-18$6.86/sh−52,341$359,059→ 324,266 total - Exercise/Conversion
Restricted Stock Units
[F1][F4]2026-03-17−35,150→ 0 total→ Common Stock, par value $0.001 per share (35,150 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F5][F6]2026-03-18−125,067→ 250,136 total→ Common Stock, par value $0.001 per share (125,067 underlying)
Footnotes (6)
- [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 17, 2026.
- [F3]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 18, 2026.
- [F4]On March 17, 2023, the reporting person was granted 105,448 restricted stock units, vesting in three equal annual installments, beginning on the first anniversary of the grant date.
- [F5]On March 18, 2025, the reporting person was granted 375,203 restricted stock units, vesting in three equal annual installments, beginning on the first anniversary of the grant date.
- [F6]Does not include 632,287 unvested restricted stock units held by the Reporting Person in connection with grants made on separate dates.