Sean Hunkler - 03 Apr 2023 Form 4 Insider Report for FTC Solar, Inc. (FTCI)

Footnote F1

The transactions reported herein reflect an amendment to options initially granted on September 24, 2021 (the "Initial Grant Date"). This amendment became effective on April 3, 2023 and is being reported in this manner solely to comply with the technical reporting requirements under Section 16(a) of the Securities Exchange Act of 1934, as amended.

Footnote F2

These options were subject to a four year installment vesting schedule to commence on the first date after which the common stock of FTC Solar, Inc. (the "Issuer") (a) closed above $30 per share on both the first and last day of any 90 day period, (b) closed above $30 per share on both the first and last day of any 60 trading day period during such 90 day period and (c) closed above $30 per share on at least 45 trading days during such 60 trading day period, provided that the options were to be forfeited to the extent that such date had not occurred within four years of the Initial Grant Date or between the four-year anniversary and the seven-year anniversary of the Initial Grant Date in certain circumstances.

Footnote F3

The "$10 Effective Date" shall mean the first date after which the Issuer's common stock has (a) closed above $10 per share on both the first and last day of any 90 calendar day period, (b) closed above $10 per share on both the first and last day of any 60 trading day period during such 90 calendar day period and (c) closed above $10 per share on at least 45 trading days during such 60 trading day period; provided, that such date must occur either (X) within the first four years from the Initial Grant Date or (Y) between the four-year anniversary of the Initial Grant Date and the seven-year anniversary of the Initial Grant Date if the $21 Effective Date (as defined below) shall have also occurred as of such date. For clarity, if the $10 Effective Date never occurs, these options will not vest and will be forfeited upon the earlier of (i) the reporting person's departure or (ii) the seven-year anniversary of the Initial Grant Date.

Footnote F4

These options are subject to a four year vesting period as follows: (a) 25% of such options will vest on the one-year anniversary of the $10 Effective Date (as defined below) and (b) 1/48 of such options will vest at the end of each month thereafter until the four-year anniversary of the $10 Effective Date; provided, in each case, that the reporting person is an active employee as of each such relevant vesting date.

Footnote F5

These options were subject to a four year installment vesting schedule commencing on the first date after which the Issuer common stock (a) closed above $60 per share on both the first and last day of any 90 day period, (b) closed above $60 per share on both the first and last day of any 60 trading day period during such 90 day period and (c) closed above $60 per share on at least 45 trading days during such 60 trading day period, provided that the options were to be forfeited to the extent that such date had not occurred within seven years of the Initial Grant Date.

Footnote F6

These options are subject to a four year vesting period as follows: (i) 25% of such options will vest on the one-year anniversary of the $21 Effective Date and (ii) 1/48 of such options will vest at the end of each month thereafter until the four-year anniversary of the $21 Effective Date; provided, in each case, that the reporting person is an active employee as of each such relevant vesting date.

Footnote F7

The "$21 Effective Date" shall mean the first date after which the Issuer's common stock has (a) closed above $21 per share on both the first and last day of any 90 calendar day period, (b) closed above $21 per share on both the first and last day of any 60 trading day period during such 90 calendar day period and (c) closed above $21 per share on at least 45 trading days during such 60 trading day period; provided, that such date must occur within the first seven years from the Initial Grant Date. For clarity, if the $21 Effective Date never occurs, these options will not vest and will be forfeited upon the earlier of (i) the reporting person's departure or (ii) the seven-year anniversary of the Initial Grant Date.