Patrick Cook - Dec 13, 2022 Form 4 Insider Report for FTC Solar, Inc. (FTCI)

Role: Chief Commercial Officer
Signature: /s/ Jacob D. Wolf, as Attorney-in-Fact
Stock symbol: FTCI
Transactions as of: Dec 13, 2022
Transactions value $: $87,048
Form type: 4
Date filed: 12/15/2022, 03:50 PM
Previous filing: Dec 5, 2022
Next filing: Jan 6, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	FTCI	Common Stock	Options Exercise	$87K	+183K	+89.61%	$0.48^*	388K	Dec 13, 2022	Direct	F1
holding	FTCI	Common Stock						94.3K	Dec 13, 2022	By Trust	F2
holding	FTCI	Common Stock						94.3K	Dec 13, 2022	By Trust	F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	FTCI	Employee Stock Options (right to buy)	Options Exercise	$0	-183K	-24.87%	$0.00	554K	Dec 13, 2022	Common Stock	183K	$0.48	Direct	F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The common stock reported on this line of this Form 4 was issued as a result of the exercise of employee stock options.
F2	These shares are owned directly by the Patrick Cook 2021 Trust for the benefit of the Reporting Person. The Reporting Person (a) is the sole trustee of the trust and (b) has sole voting and dispositive power with respect to the shares held by the trust. The Reporting Person's spouse has sole power to acquire for herself any assets held in the trust, including the shares, by substituting other property of equivalent value. The Reporting Person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that he is the beneficial owner of such securities for Section 16 or any other purpose.
F3	These shares are owned directly by the Cook 2021 Family Trust for the benefit of the Reporting Person's children. The Reporting Person (a) is the sole investment adviser of the trust, (b) has sole power to direct the trustee as to the voting and disposition of the shares held by the trust, and (c) has sole power to acquire for himself any asset held in the trust, including the shares, by substituting other property of equivalent value. The Reporting Person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that he is the beneficial owner of such securities for Section 16 or any other purpose.
F4	1,030,833 of the options are fully vested and exercisable as of December 15, 2022, and the remaining 206,167 options will vest in monthly installments until July 29, 2023.