Gunning Gina K 4
4 · Array Technologies, Inc. · Filed Mar 19, 2026
Research Summary
AI-generated summary of this filing
Array (ARRY) CLO Gina Gunning Receives 21,886 Shares via RSU Vesting
What Happened
Gina K. Gunning, Chief Legal Officer of Array Technologies (ARRY), had 21,886 restricted stock units (RSUs) vest and convert into 21,886 shares on March 18, 2026. To cover tax withholding, 5,877 of those shares were withheld by the issuer at $6.86 per share, totaling $40,316. After withholding, Gunning received a net 16,009 shares. This was a routine award settlement (not an open-market purchase or sale).
Key Details
- Transaction date: March 18, 2026; Form 4 filed March 19, 2026 (timely).
- Primary transaction: 21,886 RSUs vested and converted to common shares (derivative conversion / code M).
- Tax withholding: 5,877 shares withheld (code F) at $6.86/share = $40,316; withholding amount based on closing price on March 18, 2026 (footnote).
- Net shares issued to insider: 16,009 (21,886 vested − 5,877 withheld).
- Grant background: These RSUs were part of a March 18, 2025 grant of 65,660 RSUs vesting in three equal annual installments (this appears to be the first installment).
- Other holdings: Filing notes the reporting person also holds 71,102 unvested RSUs from other grants.
- Filing type: Settlement of awards — not a market purchase or sale; no 10b5-1 plan or late filing flagged.
Context
This was a settlement of vested RSUs (no cash exercise price), effectively a cashless settlement where shares are withheld to satisfy tax obligations. Such transactions are routine for employee equity compensation and do not, by themselves, indicate a purchase-driven bullish signal or a voluntary sale.
Insider Transaction Report
- Exercise/Conversion
Common Stock, par value $0.001 per share
[F1]2026-03-18+21,886→ 30,543 total - Tax Payment
Common Stock, par value $0.001 per share
[F2]2026-03-18$6.86/sh−5,877$40,316→ 24,666 total - Exercise/Conversion
Restricted Stock Units
[F1][F3][F4]2026-03-18−21,886→ 43,774 total→ Common Stock, par value $0.001 per share (21,886 underlying)
Footnotes (4)
- [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 18, 2026.
- [F3]On March 18, 2025, the reporting person was granted 65,660 restricted stock units, vesting in three equal annual installments, beginning on the first anniversary of the grant date.
- [F4]Does not include 71,102 unvested restricted stock units held by the reporting person in connection with grants made on separate dates.