Patrick Cook - 23 Aug 2022 Form 4/A - Amendment Insider Report for FTC Solar, Inc. (FTCI)

Role
Chief Commercial Officer
Signature
/s/ Jacob D. Wolf, as Attorney-in-Fact
Issuer symbol
FTCI
Transactions as of
23 Aug 2022
Transactions value $
-$145,086
Form type
4/A - Amendment
Filing time
21 Dec 2022, 15:30:17 UTC
Date Of Original Report
24 Aug 2022
Previous filing
19 Aug 2022
Next filing
29 Aug 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FTCI Common Stock Options Exercise $17,970 +37,832 +15% $0.475 296,230 23 Aug 2022 Direct F1
transaction FTCI Common Stock Sale -$163,055 -37,832 -13% $4.31 258,398 23 Aug 2022 Direct F2
holding FTCI Common Stock 94,295 23 Aug 2022 By Trust F3
holding FTCI Common Stock 94,295 23 Aug 2022 By Trust F4

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 -37,832 -4.9% $0 737,000 23 Aug 2022 Common Stock 37,832 $0.475 Direct F5
* 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 of this Form 4 was issued as a result of the exercise of employee stock options.
F2 Represents a weighted average sales price per share for these shares, which were sold in multiple transactions at prices ranging from $4.25 to $4.35. 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.
F3 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.
F4 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.
F5 927,750 of the options are fully vested and exercisable as of August 23, 2022, and the remaining 309,250 options will vest in monthly installments until July 29, 2023.

Remarks:

This Form 4/A amends and restates the original Form 4 filed by the Reporting Person on August 24, 2022 (the "Original Form 4"), which inadvertently excluded the exercise of a stock option on August 23, 2022. This amendment reports such exercise and corrects the number of shares beneficially owned after the sale of shares reported in the Original Form 4. This Form 4/A is also deemed to update the amount of common stock reported as beneficially owned by the Reporting Person in subsequently filed Forms 4 after the date of the Original Form 4 filing.