Cathy Behnen - Mar 1, 2023 Form 4 Insider Report for FTC Solar, Inc. (FTCI)

Role: CHIEF ACCOUNTING OFFICER
Signature: /s/ Jacob D. Wolf, as Attorney-in-Fact
Stock symbol: FTCI
Transactions as of: Mar 1, 2023
Transactions value $: $35,974
Form type: 4
Date filed: 3/3/2023, 03:31 PM
Previous filing: Feb 16, 2023
Next filing: Mar 16, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	FTCI	Common Stock	Award	$51.9K	+18.2K	+12.82%	$2.86	160K	Mar 1, 2023	Direct	F1
transaction	FTCI	Common Stock	Sale	-$16K	-5.47K	-3.42%	$2.92	154K	Mar 3, 2023	Direct	F2

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

Explanation of Responses:

Id	Content
F1	Reflects a grant of restricted stock units, which vested in full upon grant, pursuant to the Issuers 2021 Stock Incentive Plan made to the Reporting Person in exchange for the Reporting Persons agreement with the Issuer to forego her cash bonus earned for the fourth quarter of 2022. The number of restricted stock units was determined by dividing the amount of such cash bonus by the thirty (30) day volume weighted average price (VWAP) of the Issuers common stock as of the date of grant.
F2	Represents a weighted average sales price per share for these shares, which were sold in multiple transactions at prices ranging from $2.92 to $2.94. The Reporting Person has provided to the Issuer, and undertakes to provide to the staff of the Commission or any security holder of the Issuer, upon request, full information regarding the number of shares sold at each separate price within the range. The shares were sold in order to satisfy tax obligations payable upon the settlement of the restricted stock units previously granted to the Reporting Person in exchange for the Reporting Person's agreement with the Issuer to forego her cash bonus earned for the fourth quarter of 2022.

Content

Reflects a grant of restricted stock units, which vested in full upon grant, pursuant to the Issuers 2021 Stock Incentive Plan made to the Reporting Person in exchange for the Reporting Persons agreement with the Issuer to forego her cash bonus earned for the fourth quarter of 2022. The number of restricted stock units was determined by dividing the amount of such cash bonus by the thirty (30) day volume weighted average price (VWAP) of the Issuers common stock as of the date of grant.

Represents a weighted average sales price per share for these shares, which were sold in multiple transactions at prices ranging from $2.92 to $2.94. The Reporting Person has provided to the Issuer, and undertakes to provide to the staff of the Commission or any security holder of the Issuer, upon request, full information regarding the number of shares sold at each separate price within the range. The shares were sold in order to satisfy tax obligations payable upon the settlement of the restricted stock units previously granted to the Reporting Person in exchange for the Reporting Person's agreement with the Issuer to forego her cash bonus earned for the fourth quarter of 2022.