Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 16, 2021, Jeff Krantz, the Chief Commercial Officer of Array
Technologies, Inc. (the "Company"), provided written notice of his intention to
resign from his positions as an officer and employee of the Company and its
subsidiaries, effective as of January 12, 2022. Mr. Krantz has agreed to stay on
to assist with the identification, appointment and transition of his role
through the effective date of his resignation. Mr. Krantz's resignation is not
the result of any material disagreement with the Company regarding its
operations, policies, or practices.
In connection with his resignation, Mr. Krantz entered into an agreement (the
"Agreement") with the Company under which the Company agreed to modify the terms
of the Restricted Stock Unit Agreements dated October 19, 2020 and March 2, 2021
with Mr. Krantz and his Offer Letter, dated December 19, 2016 (the "Offer
Letter"), such that Mr. Krantz will retain certain of his unvested restricted
stock units on their current vesting schedule upon any potential resignation,
regardless of whether such resignation is for Good Cause (as defined in the
Offer Letter). The Company's obligations under the Agreement are conditioned
upon Mr. Krantz's agreement to, among other things, stay on in his current role
through January 11, 2022, sign a release in favor of the Company and its
affiliates, and continue to abide by any confidentiality and non-solicitation
covenants contained in his Offer Letter.
Item 7.01 Regulation FD Disclosure.
On December 20, 2021, the Company issued a press release describing the matters
in Item 5.02 of this Current Report on Form 8-K. A copy of the press release is
furnished as Exhibit 99.1 to this report and incorporated by reference herein.
The information provided pursuant to this Item 7.01 is "furnished" and shall not
be deemed to be "filed" with the SEC or incorporated by reference in any filing
under the Securities Exchange Act of 1934, as amended, or the Securities Act of
1933, as amended, except as shall be expressly set forth by specific reference
in any such filings.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit Exhibit Title or Description
No.
99.1 Press Release of Array Technologies, Inc., dated December 20, 2021 .
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
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