Manning Neil 4
4 · Array Technologies, Inc. · Filed Mar 19, 2026
Research Summary
AI-generated summary of this filing
Array (ARRY) President Neil Manning Receives 25,273 Shares via RSU Vesting
What Happened
Neil Manning, President & COO of Array Technologies (ARRY), had restricted stock units (RSUs) vest and convert into a total of 25,273 shares on March 17–18, 2026. Of those, 6,786 shares were withheld by the company to satisfy tax withholding (1,311 shares withheld on 3/17 at $6.99 and 5,475 shares withheld on 3/18 at $6.86), leaving 18,487 net shares delivered to Manning. Based on the closing prices used for withholding, the vested shares had a gross value of roughly $174,000 and the withheld shares covered about $46,722 in taxes (net value ~ $127,285).
Key Details
- Transaction dates: vesting/conversion on 2026-03-17 (4,882 shares) and 2026-03-18 (20,391 shares); tax-withholding dispositions on the same dates.
- Withholding prices and amounts: 1,311 shares withheld at $6.99 = $9,164; 5,475 shares withheld at $6.86 = $37,559.
- Net shares received: 18,487 (25,273 vested − 6,786 withheld).
- Filing: Form 4 filed 2026-03-19 for report period 2026-03-17 — appears timely (filed within the two-business-day window).
- Footnotes: Vesting was from prior grants — 14,645 RSUs granted 3/17/2023 (vesting in 3 annual installments; 4,882 vested) and 61,174 RSUs granted 3/18/2025 (vesting in 3 annual installments; 20,391 vested). F6 notes an additional 108,571 unvested RSUs held by Manning from other grants.
- Transaction codes: M = conversion of derivative/settlement (RSU settlement to shares); F = shares withheld to satisfy tax withholding.
Context
These entries reflect scheduled RSU vesting and a common cashless tax-withholding settlement (company retains shares to cover taxes) rather than an open-market sale or purchase. The Form 4 reports conversion of RSUs (derivative instruments) into common stock and the related withholding; it does not indicate a directional buy/sell by the insider beyond receiving his vested award.
Insider Transaction Report
- Exercise/Conversion
Common Stock, par value $0.001 per share
[F1]2026-03-17+4,882→ 40,320 total - Tax Payment
Common Stock, par value $0.001 per share
[F2]2026-03-17$6.99/sh−1,311$9,164→ 39,009 total - Exercise/Conversion
Common Stock, par value $0.001 per share
[F1]2026-03-18+20,391→ 59,400 total - Tax Payment
Common Stock, par value $0.001 per share
[F3]2026-03-18$6.86/sh−5,475$37,559→ 53,925 total - Exercise/Conversion
Restricted Stock Units
[F1][F4]2026-03-17−4,882→ 0 total→ Common Stock, par value $0.001 per share (4,882 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F5][F6]2026-03-18−20,391→ 40,783 total→ Common Stock, par value $0.001 per share (20,391 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 14,645 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 61,174 restricted stock units, vesting in three equal annual installments, beginning on the first anniversary of the grant date.
- [F6]Does not include 108,571 unvested restricted stock units held by the Reporting Person in connection with grants made on separate dates.