Array (ARRY) CEO Kevin Hostetler Receives Award; Shares Withheld

What Happened

• Kevin G. Hostetler, CEO of Array Technologies (ARRY), had 213,070 restricted stock units (RSUs vest) converted into common shares on Sept 24, 2026. To cover tax withholding, 89,170 of those shares were withheld by the company at $3.93 per share, producing withholding value of $350,438. The net shares issued to him from this settlement were approximately 123,900.
• This was not an open-market sale by the insider; it was the vesting/settlement of RSUs (derivative conversion). The tax withholding is recorded as a disposition of shares (code F) while the conversion is recorded as an exercise/conversion of a derivative (code M).

Key Details

• Transaction date: September 24, 2026; Form filed September 28, 2026 (timely, within the 2-business-day Form 4 window).
• RSUs converted: 213,070 (code M); Shares withheld for taxes: 89,170 at $3.93/share = $350,438 (code F).
• Net shares issued to insider from this settlement: ~123,900 (213,070 − 89,170).
• Footnotes: These RSUs are from a grant dated Sept 24, 2024 (322,834 RSUs total), of which 66% vested on the second anniversary (this tranche). Each RSU equals one share on vesting. The withholding number was calculated using the closing price on Sept 24, 2026.
• The filing shows there are an additional 559,589 unvested RSUs held by Hostetler from other grants (these were not part of this settlement).

Context

• This is a routine equity compensation settlement (RSU vesting) rather than an indication of a buy or sell decision by the CEO. The conversion (code M) represents RSUs settling into shares; the withholding (code F) is a common cashless method to satisfy tax obligations.