Array Technologies Files 8-K/A Amendment

Ticker: ARRY · Form: 8-K/A · Filed: Oct 4, 2024 · CIK: 1820721

Sentiment: neutral

Topics: corporate-governance, executive-compensation, amendment

Related Tickers: ARRY

TL;DR

Array Tech filed an 8-K/A amendment on director/officer changes and compensation.

AI Summary

Array Technologies, Inc. filed an amendment (8-K/A) on October 4, 2024, related to events on September 24, 2024. The filing concerns the departure of directors or certain officers, the election of directors, and the appointment of certain officers, as well as compensatory arrangements for certain officers.

Why It Matters

This amendment provides updated information regarding changes in the company's board of directors and executive compensation, which can impact investor confidence and strategic direction.

Risk Assessment

Risk Level: low — The filing is an amendment to a previous report and primarily concerns corporate governance and executive matters, not immediate financial distress or significant operational changes.

Key Players & Entities

FAQ

What specific events are being amended in this 8-K/A filing?

This 8-K/A filing amends information related to the departure of directors or certain officers, the election of directors, the appointment of certain officers, and compensatory arrangements of certain officers.

What is the date of the earliest event reported in this filing?

The earliest event reported in this filing occurred on September 24, 2024.

When was this amendment filed with the SEC?

This amendment was filed with the SEC on October 4, 2024.

What is the principal executive office address for Array Technologies, Inc.?

The principal executive office address for Array Technologies, Inc. is 3901 Midway Place NE, Albuquerque, New Mexico 87109.

What is the telephone number for Array Technologies, Inc.?

The telephone number for Array Technologies, Inc. is (505) 881-7567.

Filing Stats: 565 words · 2 min read · ~2 pages · Grade level 13.1 · Accepted 2024-10-04 17:15:45

Key Financial Figures

Filing Documents

From the Filing

arry-20240924 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K/A (Amendment No. 1) CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): September 24, 2024 ARRAY TECHNOLOGIES, INC. (Exact Name of Registrant as Specified in Charter) Delaware 001-39613 83-2747826 (State or Other Jurisdiction of Incorporation) (Commission File Number) (I.R.S. Employer Identification No.) 3901 Midway Place NE Albuquerque , New Mexico 87109 (Address of Principal Executive Offices, and Zip Code) ( 505 ) 881-7567 Registrant's Telephone Number, Including Area Code Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below): Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.001 Par Value ARRY Nasdaq Global Market Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Explanatory Note This Current Report on Form 8-K/A amends the Current Report on Form 8-K filed by Array Technologies, Inc. (the "Company") with the Securities and Exchange Commission on September 30, 2024 (the "Original 8-K"). Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. As previously reported in the Original 8-K, the Human Capital Committee (the "Committee") of the Board of Directors of the Company approved a supplemental leadership incentive plan (the "Supplemental Plan") for senior executives of the Company (the "Participants") to motivate executive officers to achieve long-term corporate financial and operating goals. Under the Supplemental Plan, which covers a measurement period from July 1, 2024 through December 31, 2024, the Participants are eligible to receive an annual cash incentive bonus based on cash, gross margin, and sales targets. Payouts under the Supplemental Plan and the Company's 2024 Leadership Incentive Plan (the "LIP") will collectively be capped at 95% of the Participants' target awards under the LIP after considering achievement of performance targets set for the 2024 LIP and the Supplemental Plan. There will be no performance-based stock units awarded under the Supplemental Plan; however, the Supplemental Grant (as defined in the Original 8-K) of time-based restricted stock units will be made to the Participants, as previously disclosed. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Array Technologies, Inc. Date: October 4, 2024 By: /s/ Michael Howell Name: Michael Howell Title: Interim Chief Legal Officer

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