Schmid Gerrard 4

What Happened

• Gerrard, a director of Array Technologies (ARRY), reported RSU activity on May 19, 2026. A prior grant of 22,164 restricted stock units (RSUs) vested and were converted to common shares (reported as an exercise/conversion of a derivative at $0). The filing also records a disposition of 22,164 shares at $0 (reported as derivative) and a contemporaneous grant of 22,641 new RSUs (award) granted May 19, 2026 that vest May 18, 2027. All transactions are recorded at $0 per share (no cash purchase or sale value reported).

Key Details

• Transaction date: May 19, 2026 (reported on Form 4 filed May 21, 2026).
• Converted/vested RSUs: 22,164 shares (exercise/conversion of derivative) at $0.
• Disposition: 22,164 shares reported as disposed at $0 (derivative).
• New grant: 22,641 RSUs awarded May 19, 2026; vesting date May 18, 2027.
• Footnotes: F1 confirms each RSU converts to one share on vesting; F2 notes the 22,164 RSUs were granted May 20, 2025 and vested May 19, 2026; F3 describes the new 22,641-RSU grant and vesting schedule.
• Shares owned after the transactions are not specified in the provided summary; the net effect reported shows no cash value exchanged.
• Filing appears timely (reported period 2026-05-19; filed 2026-05-21).

Context

• These entries reflect RSU vesting/conversion and a new RSU award rather than an open-market buy or sale. RSUs convert to common stock upon vesting (per F1). The reported $0 amounts indicate the transactions were transfers tied to vesting/grant mechanics rather than cash purchases or sales; they do not by themselves indicate a bullish or bearish signal.