Patrick Cook - Sep 8, 2023 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
Sep 8, 2023
Transactions value $
$3,250
Form type
4
Date filed
9/12/2023, 06:23 PM
Previous filing
Aug 14, 2023
Next filing
Dec 14, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FTCI Common Stock Options Exercise $166K +350K +78.81% $0.48* 794K Sep 8, 2023 Direct F1
transaction FTCI Common Stock Sale -$163K -100K -12.59% $1.63 694K Sep 8, 2023 Direct F2, F3
holding FTCI Common Stock 94.3K Sep 8, 2023 By Trust F4
holding FTCI Common Stock 94.3K Sep 8, 2023 By Trust F5

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 -350K -63.21% $0.00 204K Sep 8, 2023 Common Stock 350K $0.48 Direct F6
* 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 was issued as a result of the exercise of employee stock options.
F2 Reflects a sale in order to satisfy certain tax obligations of the Reporting Person and to pay in part the option exercise price, in each case, that became due upon the exercise of employee stock options.
F3 Represents a weighted average sales price per share for these shares, which were sold in multiple transactions at prices ranging from $1.60 to $1.69. 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.
F4 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.
F5 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.
F6 The options were fully vested as of July 29, 2023.