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(State or Other Jurisdiction of Incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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(Address of Principal Executive Offices)
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(Zip Code)
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Item 5.02. |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
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ITEM 9.01. |
Financial Statements and Exhibits.
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(d)
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Exhibits
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Amendment to Employment Agreement, dated April 3, 2023, among FTC Solar, Inc. and Sean Hunkler
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104
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Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document
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FTC SOLAR, INC.
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Date: April 3, 2023
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By:
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/s/ Phelps Morris
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Phelps Morris
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Chief Financial Officer
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1. |
The Amended Tranche 1 Options shall become vested over a four-year period as follows: (i) 25% of such Amended Tranche 1 Options will vest on the one-year anniversary of the $10 Effective Date and
(ii) 1/48 of such Amended Tranche 1 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 you are an active employee as of each such relevant vesting
date. The “$10 Effective Date” shall mean the first date after which the Company’s Common Stock has (a) closed above $10 per share on both the first and last day of any ninety
(90) calendar day period, (b) closed above $10 per share on both the first and last day of any sixty (60) trading day period during such 90 calendar day period and (c) closed above $10 per share on at least forty-five (45) trading days
during such 60 trading day period; provided, that such date must occur either (X) within the first four (4) years from the Effective Date or (Y) between the four (4) year anniversary of the Effective Date and the seven (7) year
anniversary of the Effective Date if the $21 Effective Date shall have also occurred as of such date. For clarity, if the $10 Effective Date never occurs, the Amended Tranche 1 Options will never vest and be forfeited upon your departure
or the seven (7) year anniversary of the Effective Date, as applicable.
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2. |
The Amended Tranche 2 Options shall become vested over a four-year period as follows: (i) 25% of such Amended Tranche 2 Options will vest on the one-year anniversary of the $21 Effective Date and
(ii) 1/48 of such Amended Tranche 2 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 you are an active employee as of each such relevant vesting
date. The “$21 Effective Date” shall mean the first date after which the Company’s Common Stock has (a) closed above $21 per share on both the first and last day of any ninety
(90) calendar day period, (b) closed above $21 per share on both the first and last day of any sixty (60) trading day period during such 90 calendar day period and (c) closed above $21 per share on at least forty-five (45) trading days
during such 60 trading day period; provided, that such date must occur within the first seven (7) years from the Effective Date. For clarity, if the $21 Effective Date never occurs, the Amended Tranche 2 Options will never vest and be
forfeited upon your departure or the seven (7) year anniversary of the Effective Date, as applicable.
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Sincerely,
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/s/ Jacob Wolf
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Jacob Wolf
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General Counsel
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FTC Solar, Inc.
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Acknowledged and Accepted:
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By:
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/s/ Sean Hunkler
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Name: Sean Hunkler
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![]() |
info@ftcsolar.com
866-FTC-Solar
ftcsolar.com
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© 2020 FTC Solar, Inc.
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DOC: 01-T-001-B
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Document and Entity Information |
Apr. 03, 2023 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Apr. 03, 2023 |
Entity File Number | 001-40350 |
Entity Registrant Name | FTC Solar, Inc. |
Entity Central Index Key | 0001828161 |
Entity Incorporation, State or Country Code | DE |
Entity Tax Identification Number | 81-4816270 |
Entity Address, Address Line One | 9020 N CAPITAL OF TEXAS HWY, SUITE I-260 |
Entity Address, City or Town | AUSTIN |
Entity Address, State or Province | TX |
Entity Address, Postal Zip Code | 78759 |
City Area Code | 737 |
Local Phone Number | 787-7906 |
Title of 12(b) Security | Common Stock, $0.0001 par value |
Trading Symbol | FTCI |
Security Exchange Name | NASDAQ |
Entity Emerging Growth Company | true |
Entity Ex Transition Period | false |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
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