Zhu James 4

What Happened

• James Zhu, Chief Accounting Officer of Array Technologies (ARRY), had 12,234 restricted stock units (RSUs) vest and convert into common shares on March 18, 2026. The RSUs converted at no exercise price (typical for RSUs). To cover tax withholding, 3,285 of those shares were surrendered at a withholding price of $6.86 per share, totaling $22,535. The net result was 8,949 newly issued shares retained by the reporting person.

Key Details

• Transaction date: March 18, 2026 (Form 4 filed March 19, 2026 — timely).
• Vesting/conversion: 12,234 RSUs converted to 12,234 common shares (SEC code M = exercise/conversion of derivative).
• Tax withholding: 3,285 shares withheld at $6.86/share for $22,535 (SEC code F = payment of tax liability).
• Net shares received: 8,949 shares (12,234 − 3,285).
• Grant context: The 12,234 vested shares are one-third of a March 18, 2025 grant of 36,704 RSUs that vest in three equal annual installments (footnote). The filing notes an additional 86,634 unvested RSUs held from other grants.
• Filing timeliness: Reported the next day — not marked late.

Context

• This was a routine RSU vesting and settlement with shares withheld to satisfy tax obligations (a cashless/withholding settlement), not an open-market purchase or sale. Such compensation-related transactions are common and reflect scheduled vesting under company equity plans rather than an independent buy/sell decision.