ASHFORD ORLANDO D 4

What Happened

• Orlando Ashford, a director of Array Technologies (ARRY), had 22,164 restricted stock units (RSUs) that vested on May 19, 2026 and were reported as converted/exercised into shares (code M) at $0.00. The filing also reports a simultaneous derivative disposition of 22,164 units (code M) (both entries show $0 consideration). On the same date he was granted 22,641 new RSUs (code A) at $0.00, which vest on May 18, 2027. These transactions reflect vesting and new awards, not purchases or open-market sales.

Key Details

• Transaction dates and prices: May 19, 2026 — 22,164 RSUs converted/exercised @ $0.00; 22,164 derivative disposition @ $0.00; 22,641 RSUs granted @ $0.00.
• Total consideration reported: $0 for all items (typical for vesting/awards).
• Shares owned after the transaction: not specified in the public Form 4 summary provided.
• Relevant footnotes:
  • F1: Each RSU equals the right to receive one share upon vesting under the 2020 LTIP.
  • F2: The 22,164 RSUs were granted on May 20, 2025 and vested May 19, 2026.
  • F3: The 22,641 RSUs were granted May 19, 2026 and vest May 18, 2027.
• Filing timeliness: Reported on May 21, 2026 for transactions on May 19, 2026 — filed within the standard Section 16 reporting window (timely).

Context

• RSU vesting/conversion (code M) is not a cash market purchase or sale; it represents delivery of shares upon vesting. The concurrent derivative disposition entry typically reflects settlement/transfer mechanics related to conversion or release of the RSUs rather than an open-market sale.
• New RSU grants are future compensation and will only convert to shares if and when they vest (here, May 18, 2027).