Array (ARRY) President Neil Manning Vests RSUs

What Happened

• Neil Manning, President & COO of Array Technologies (ARRY), had 38,976 restricted stock units (RSUs) convert to common stock on September 24, 2026. Of those shares, 10,466 were withheld by the company to cover tax withholding obligations (withholding valued at $3.93/share, totaling $41,131), leaving a net delivery of 28,510 shares to Manning. The RSUs originated from a Sept 24, 2024 grant (59,055 RSUs; 66% vested on the second anniversary).

Key Details

• Transaction date: 2026-09-24; Form 4 filed 2026-09-28 (timely filing within required window).
• Conversion/Exercise (code M): 38,976 RSUs converted to common stock; no cash exercise price (RSUs convert at $0).
• Tax withholding (code F): 10,466 shares withheld at $3.93/share = $41,131.
• Net shares delivered to insider: 28,510 (38,976 vested − 10,466 withheld).
• Remaining unvested RSUs: filing notes 90,299 unvested RSUs from other grants; 20,079 from the referenced grant remain to vest (34% due on third anniversary).
• Footnotes: RSUs settle one-for-one into common shares; withheld shares satisfy tax liability based on the closing stock price on 9/24/2026.
• Filing timeliness: Filed on 9/28 for 9/24 transactions — appears timely (within two business days).

Context

• This was a routine vesting/settlement of RSUs (not an open-market buy or sell). The withholding of shares to cover taxes is a common cashless settlement mechanism and does not, by itself, indicate insider buying or selling sentiment. Transaction codes: M = exercise/conversion of a derivative (here, RSU settlement); F = shares withheld for tax withholding.