AUSTIN, Texas, Aug.16, 2024 (GLOBE NEWSWIRE) -- FTC Solar, Inc.(Nasdaq: FTCI), a leading global provider of solar tracker systems, software, and engineering services, today announced that, in accordance with Nasdaq Listing Center requirements, Yann Brandt, the Company’s President and Chief Executive Officer, will be granted an employment inducement award in reliance on Nasdaq Stock Market Listing Rule 5635(c).
The employment inducement award will consist of (i) an award of 4,000,000 restricted stock units ("RSUs”) (which will vest over a three-year period, with the initial 25% tranche vesting on the date of grant, and the remaining RSUs vesting in equal tranches at the end of each month thereafter until the three-year anniversary of the date of grant), and (ii) an award of 2,500,000 performance-based restricted stock units ("PSUs”), which will vest over the four-year period commencing on the Employment Commencement Date, subject to the attainment of certain share value hurdles as set forth in the Employment Agreement and, in each case, subject to Mr.
Brandt’s employment agreement with the Company. These awards were approved by the Board of Directors of FTC Solar to be granted on the Employment Commencement Date without shareholder approval as "employment inducement awards” under the Nasdaq Stock Market Listing Rule 5635(c), which requires public announcement of such inducement awards.About FTC Solar Inc.
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