Nagendra Cherukupalli - 01 Mar 2023 Form 4 Insider Report for FTC Solar, Inc. (FTCI)

Role: CHIEF TECHNOLOGY OFFICER
Signature: /s/ Jacob D. Wolf, as Attorney-in-Fact
Issuer symbol: FTCI
Transactions as of: 01 Mar 2023
Net transactions value: -$396,482
Form type: 4
Filing time: 03 Mar 2023, 16:25:56 UTC
Previous filing: 17 Nov 2022
Next filing: 17 May 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	FTCI	Common Stock	Award	$49,918	+17,454	+0.89%	$2.86	1,982,834	01 Mar 2023	Direct	F1
transaction	FTCI	Common Stock	Sale	$446,400	-155,000	-7.8%	$2.88	1,827,834	03 Mar 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 his 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	SPREAD Represents a weighted average sales price per share for these shares, which were sold in multiple transactions at prices ranging from $2.84 to $2.905. 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.

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 his 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.

SPREAD Represents a weighted average sales price per share for these shares, which were sold in multiple transactions at prices ranging from $2.84 to $2.905. 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.