Array Technologies, Inc. — fact timeline

Array Technologies, Inc. shareholders approved Amendment to Amended and Restated Certificate of Incorporation to declassify Board and phase-in annual director elections at the 2026-05-19 meeting.

“Proposal No. 4 – The Company’s stockholders approved the amendment to the Company’s Amended and Restated Certificate of Incorporation to declassify the Company’s Board and phase-in annual director elections, with the voting results as follows: For Against Abstentions Broker Non-Votes 119,363,402 167,054 75,235 10,194,673”

Array Technologies, Inc. shareholders approved Non-binding advisory vote on compensation of Named Executive Officers at the 2026-05-19 meeting.

“Proposal No. 3 – The Company’s stockholders approved, on a non-binding advisory basis, the compensation of the Company’s Named Executive Officers, with the voting results as follows: For Against Abstentions Broker Non-Votes 99,437,704 17,518,712 2,649,275 10,194,673”

Array Technologies, Inc. shareholders approved Ratification of appointment of Deloitte & Touche LLP as independent registered public accounting firm at the 2026-05-19 meeting.

“Proposal No. 2 – The Company’s stockholders ratified the appointment of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2026, with the voting results as follows: For Against Abstentions 129,535,975 109,149 155,240”

Array Technologies, Inc. shareholders approved Election of three nominees to the Board of Directors at the 2026-05-19 meeting.

“On May 19, 2026, Array Technologies, Inc. (the “Company”) held its 2026 Annual Meeting of Stockholders (the “Annual Meeting”). The final results for the proposals submitted for a vote of stockholders are set forth below.”

Array Technologies, Inc. reported first quarter ended March 31, 2026 results: revenue $223.4, net income ($13.5), EPS ($0.09). Guidance reaffirmed.

“of flagship DuraTrack® product • Reaffirming Full Year 2026 financial guidance 2026 First Quarter Financial Highlights (in millions, except per share) 1Q 2026 Revenue $223.4 Gross margin 28.2% Adjusted gross margin (1) 30.7% Net loss to common shareholders ($13.5) Adjusted EBITDA (1) $28.8 Net loss per basic and diluted common share ($0.09) Adjusted”

Array Technologies, Inc. amended revolving credit of from $166,000,000 to $370,000,000 with Goldman Sachs Bank USA at removes the credit spread adjustment with respect to Term SOFR maturing from October 14, 2028 to February 18, 2031.

“increases the revolving credit facility commitments under the original Credit Agreement from $166,000,000 to $370,000,000; (ii) extends the maturity of the revolving credit facility from October 14, 2028 to February 18, 2031; (iii) removes the credit spread adjustment with respect to Term SOFR”

Array Technologies, Inc. amended Amendment No. 5 to Credit Agreement with Goldman Sachs Bank USA (effective 2026-02-18).

“On February 18, 2026, Array Tech, Inc. (f/k/a Array Technologies, Inc.) (the “Borrower”), a New Mexico corporation and wholly-owned subsidiary of Array Technologies, Inc. (the “Company”), entered into that certain Amendment No. 5 to Credit Agreement (the “Fifth Amendment”), by and among the Borrower, the Company’s wholly-owned subsidiary ATI Investment Sub, Inc., as holdings (“Holdings”), Goldman Sachs Bank USA, as administrative agent and collateral agent (“Goldman Sachs”), and the Lenders (as defined in the Fifth Amendment), to its credit agreement entered into on October 14, 2020, by and among the Borrower, Holdings, Goldman Sachs, and certain other lenders from time to time party thereto (the “Credit Agreement”).”

Array Technologies, Inc. completed an acquisition involving APA Solar, LLC for approximately $159.9 million, net of preliminary and customary purchase price adjustments (closed 2025-08-14).

“and the guarantors party thereto. At the closing of the APA Acquisition, pursuant to the Purchase Agreement, the Company paid cash consideration to the Seller of approximately $159.9 million, net of preliminary and customary purchase price adjustments and subject to final post-closing settlement (after giving effect to such settlement, the “Purchase Price”). The”

Paulo Almirante departed as Director at Array Technologies, Inc..

“Paulo Almirante informed Array Technologies, Inc. (the “Company”) that he will not stand for re-election as a director of the Board of Directors of the Company (the “Board”) at the Company’s 2025 Annual Meeting of Stockholders expected to be held on or around May 20, 2025”

Tyson Hottinger resigned as Chief Legal Officer and Corporate Secretary at Array Technologies, Inc..

“On September 24, 2024, Tyson Hottinger, the Chief Legal Officer and Corporate Secretary of Array Technologies, Inc. (the “Company”), gave notice of his intention to resign from his positions as an officer and employee of the Company and its subsidiaries and affiliates effective October 31, 2024.”

Kurt Wood departed as Chief Financial Officer at Array Technologies, Inc..

“On June 4, 2024, Array Technologies, Inc. (the “Company”) and Kurt Wood, Chief Financial Officer of the Company (“CFO”), mutually determined that Mr. Wood would step down from his position as CFO, effective as of June 30, 2024.”

Array Technologies, Inc. reported first quarter ended March 31, 2024 results: revenue $153.4 million, net income Net loss to common shareholders of $11.3 million, EPS Basic and diluted net loss per share of $0.07. Guidance reaffirmed.

“Array Technologies, Inc. Reports Financial Results for the First Quarter 2024 – Achieves record gross margin and $2.1 billion of executed contracts and awarded orders First Quarter 2024 Highlights • Revenue of $153.4 million • Gross Margin of 35.9% • Adjusted gross margin of 38.3% (1) • Net loss to common shareholders of $11.3 million • Adjusted EBITDA (1) of $26.2 million • Basic and diluted net loss per share of $0.07 • Adjusted diluted net income per share (1) of $0.06”

James Zhu was appointed as Chief Accounting Officer at Array Technologies, Inc..

“On March 19, 2024, James Zhu, age 62, was appointed to the position of Chief Accounting Officer of Array Technologies, Inc. (the “Company” or “Array”) by the Company’s Board of Directors (the “Board”).”

Array Technologies, Inc. reported third quarter ended September 30, 2023 results: revenue $350.4 million, net income $10.1 million, EPS $0.07. Guidance reaffirmed.

“Revenue decreased 32% to $350.4 million, compared to $515.0 million for the prior-year period”

Nipul Patel departed as Chief Financial Officer at Array Technologies, Inc..

“Nipul Patel will continue in his current role as Chief Financial Officer until Mr. Wood begins employment with the Company, and thereafter will assist with the transition in an advisory role until Mr. Patel’s expected separation from the Company at the end of the year (the “Transition Period”).”

Kurt Wood was appointed as Chief Financial Officer at Array Technologies, Inc..

“On November 3, 2023, Array’s Board of Directors (the “Board”) appointed Kurt Wood, age 48, as Chief Financial Officer of the Company, effective upon commencement of his employment with the Company on November 13, 2023.”

Array Technologies, Inc. updated its the year ending December 31, 2023 guidance (reaffirmed).

“Full Year 2023 Guidance For the year ending December 31, 2023, the company expects: • Revenue to be in the range of $1,650 million to $1,725 million • Adjusted EBITDA (2) to be in the range of $280 million to $295 million • Adjusted net income per share (2) to be in the range of $1.00 to $1.07”

Array Technologies, Inc. reported the quarter ended June 30, 2023 results: revenue $507.7 million, net income $52.0 million, EPS $0.34. Guidance reaffirmed.

“Array Technologies, Inc. Reports Financial Results for the Second Quarter 2023 – Strong execution delivers revenue of $507.7 million and record gross margin of 29.6%”

Array Technologies, Inc. shareholders rejected Amendment to the Certificate of Incorporation to update the exculpation provision to limit liability of certain officers at the 2023-05-23 meeting.

“Proposal No. 4 – The Company’s Stockholders did not approve an amendment to the Company’s Certificate of Incorporation to update the exculpation provision to limit the liability of certain officers of the Company, which proposal required the affirmative vote of the holders of 66 2/3% of the voting power of the outstanding shares of Common Stock for approval, with the votes cast as follows: Votes Cast For 100,119,033 Against 16,070,852 Abstentions 222,322 Broker Non-Votes 9,904,254”

Array Technologies, Inc. shareholders approved Non-binding advisory approval of the compensation of the Company’s Named Executive Officers at the 2023-05-23 meeting.

“Proposal No. 3 – The Company’s stockholders approved, on a non-binding advisory basis, the compensation of the Company’s Named Executive Officers, with the votes cast as follows : Votes Cast For 106,712,116 Against 9,480,855 Abstentions 219,236 Broker Non-Votes 9,904,254”

Array Technologies, Inc. shareholders approved Ratification of Deloitte & Touche LLP as the independent registered public accounting firm for fiscal year 2023 at the 2023-05-23 meeting.

“Proposal No. 2 – The Company’s stockholders ratified the appointment of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the fiscal year ended December 31, 2023, with the votes cast as follows: Votes Cast For 125,717,886 Against 528,343 Abstentions 70,232”

Array Technologies, Inc. shareholders approved Election of three nominees to the board of directors to serve three-year terms expiring at the 2026 annual meeting at the 2023-05-23 meeting.

“Proposal No. 1 – The Company’s stockholders elected the three nominees to the Company’s board of directors to serve three-year terms expiring at the 2026 annual meeting of stockholders and until their successors are duly elected and qualified, or until their earlier resignation or removal, with the votes cast as follows: Nominee For Withheld Broker Non-Votes Brad Forth 63,717,618 52,694,589 9,904,254 Kevin Hostetler 115,561,047 851,160 9,904,254 Gerrard Schmid 98,877,511 17,534,696 9,904,254”

Array Technologies, Inc. reported first quarter ended March 31, 2023 results: revenue $376.8 million, net income $13.6 million, EPS $0.09. Guidance lowered.

“May 9, 2023 Array Technologies, Inc. Reports Financial Results for the First Quarter 2023 – Delivers strong results, with revenue of $376.8 million and gross margin of 26.9% First Quarter 2023 Highlights • Revenue of $376.8 million • Net income to common shareholders of $13.6 million • Adjusted EBITDA (1) of $67.0 million • Basic and diluted net income per share of $0.09”

Array Technologies, Inc. engaged Deloitte & Touche LLP as its auditor.

“On April 10, 2023 (the "Engagement Date"), Array Technologies, Inc. (the "Company") engaged Deloitte & Touche LLP ("Deloitte") as the Company’s independent registered public accounting firm to audit the Company’s consolidated financial statements for the year ending December 31, 2023.”

Array Technologies, Inc. dismissed BDO USA, LLP as its auditor.

“On March 28, 2023 (the “Dismissal Date”), the audit committee (the “Audit Committee”) of the board of directors of Array Technologies, Inc. (the “Company”) approved the dismissal of BDO USA, LLP (“BDO”) as the Company’s independent registered public accounting firm effective immediately and informed BDO of such decision.”

Array Technologies, Inc. reported the year ending December 31, 2023 results: revenue $1,800 million to $1,950 million. Guidance initiated.

“Full Year 2023 Guidance For the year ending December 31, 2023, the Company expects: • Revenue to be in the range of $1,800 million to $1,950 million • Adjusted EBITDA (4) to be in the range of $240 million to $265 million • Adjusted net income per share (4) to be in the range of”

Array Technologies, Inc. reported the fiscal year ended December 31, 2022 results: revenue $1,638 million, net income $43.6 million, EPS $0.29.

“Full Year 2022 Financial Highlights • Revenue of $1,638 million • Net loss to common stockholders of $43.6 million • Adjusted EBITDA (1) of $128.7 million • Basic and diluted net loss per share of $0.29”

Array Technologies, Inc. reported the quarter ended December 31, 2022 results: revenue $402.1 million, net income $17.3 million, EPS $0.11.

“Fourth Quarter 2022 Financial Highlights • Revenue of $402.1 million • Net loss to common stockholders of $17.3 million • Adjusted EBITDA (1) of $51.7 million • Basic and diluted net loss per share of $0.11”

Array Technologies, Inc. reported year ending December 31, 2023 results: revenue $1,800 million to $1,950 million, EPS $0.75 to $0.85 adjusted net income per share. Guidance initiated.

“Revenue to be in the range of $1,800 million to $1,950 million • Adjusted EBITDA (4) to be in the range of $240 million to $265 million • Adjusted net income per share (4) to be in the range of $0.75 to $0.85”

Array Technologies, Inc. reported full year ended December 31, 2022 results: revenue $1,620 million to $1,640 million, net income $40 million to $42 million net loss, EPS $0.27 to $0.28 diluted loss per share.

“Revenues expected in a range of $1,620 million to $1,640 million • Gross margin expected in the range of 13.5% to 14.0% • Net loss expected in the range of $40 million to $42 million • Diluted Loss Per Share expected in the range of $0.27 to $0.28”

Array Technologies, Inc. reported that prior financial statements should not be relied upon.

“The errors in the unaudited condensed consolidated financial statements for the Non-Reliance Periods noted above will be corrected in restated financial statements for the Non-Reliance Periods in the Form 10-K for the year ended December 31, 2022 (the “Form 10-K”). The Company is diligently pursuing completion of the restatement and intends to file the Form 10-K no later than the fifteenth calendar day after its original due date.”

Neil Manning was appointed as Chief Operations Officer at Array Technologies, Inc..

“On January 26, 2023, Neil Manning, age 52, was appointed to the position of Chief Operations Officer of Array Technologies, Inc. (the “Company”) by the Company’s Board of Directors, with effect from January 30, 2023.”

Array Technologies, Inc. reported third quarter ended September 30, 2022 results: revenue $515.0 million, net income net income to common stockholders of $28.6 million, EPS $0.19 per basic and diluted share.

“measures to GAAP. --- EX-99.1 (EX-99.1) --- November 8, 2022 Array Technologies, Inc. Reports Financial Results for the Third Quarter 2022 – Delivers record revenue of $515 million and the fourth consecutive quarter of gross margin improvement Third Quarter 2022 Highlights • Revenue of $515.0 million • Net income to common stockholders of $28.6 million •”

Array Technologies, Inc. reported that prior financial statements should not be relied upon.

“On November 7, 2022, management and the Audit Committee of the Board of Directors (the “Board”) of the Company, in consultation with BDO USA, LLP (“BDO”), the Company’s independent registered public accounting firm, determined that the Company’s previously issued interim financial statements filed on its Form 10-Q as of June 30, 2022, and for the three and six months ended June 30, 2022 (the “Non-Reliance Periods”), should no longer be relied upon until the financial statements are restated.”

Tracy Jokinen was appointed as member of the Board at Array Technologies, Inc..

“Effective November 8, 2022, the Board, acting upon the recommendation of its Nominating and Corporate Governance Committee, appointed Tracy Jokinen to serve as a member of the Board.”

Ron Corio resigned as member of the Board at Array Technologies, Inc..

“On November 3, 2022, Ron Corio delivered written notice to the Board of the Company stating that he had resigned from his position as a member of the Board.”

Kenneth Stacherski resigned as Chief Operations Officer at Array Technologies, Inc..

“On October 11, 2022, Kenneth Stacherski, the Chief Operations Officer of Array Technologies, Inc. (the “Company”), provided notice of his intention to resign from his positions as an officer and employee of the Company and its subsidiaries, effective as of October 21, 2022.”

Kevin Hostetler was appointed as Chief Executive Officer at Array Technologies, Inc..

“The Board appointed Kevin Hostetler to serve as the Chief Executive Officer of the Company, effective as of April 18, 2022.”

Jim Fusaro retired as Chief Executive Officer at Array Technologies, Inc..

“Jim Fusaro, Chief Executive Officer (“CEO”) and a member of the Board of Directors (the “Board”) of the Company, would terminate his employment as CEO and cease serving as a member of the Board, effective as of April 18, 2022.”

Jeff Krantz resigned as Chief Commercial Officer at Array Technologies, Inc..

“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.”

Jim Fusaro departed as Chief Executive Officer at Array Technologies, Inc..

“Jim Fusaro, the Chief Executive Officer of Array Technologies, Inc. (the “Company”), gave notice of his intention to resign on or before December 31, 2022”

Stuart Bolland resigned as Chief Operations Officer at Array Technologies, Inc..

“Mr. Stacherski succeeds Stuart Bolland, the current Chief Operations Officer of the Company, who gave notice on September 11, 2021 of his intention to resign from his position as an officer and employee of the Company and its subsidiaries and affiliates, with effect from October 22, 2021.”

Ken Stacherski was appointed as Chief Operations Officer at Array Technologies, Inc..

“On September 15, 2021, Ken Stacherski, age 50, was appointed to the position of Chief Operations Officer of Array Technologies, Inc. (the “Company”) by the Board, with effect from October 22, 2021.”

Bilal Khan was appointed as Director at Array Technologies, Inc..

“Bilal Khan has been designated by the Purchaser as the Series A Director and, accordingly, the Board appointed Mr. Khan to serve as a member of the Board effective as of the Initial Closing.”

Gerrard Schmid was appointed as Director at Array Technologies, Inc..

“Effective August 2, 2021, the Board, acting upon the recommendation of its Nominating and Corporate Governance Committee, appointed each of Paulo Almirante and Gerrard Schmid to serve as a member of the Board.”

Paulo Almirante was appointed as Director at Array Technologies, Inc..

“Effective August 2, 2021, the Board, acting upon the recommendation of its Nominating and Corporate Governance Committee, appointed each of Paulo Almirante and Gerrard Schmid to serve as a member of the Board.”

Jason Lee resigned as Director at Array Technologies, Inc..

“On August 2, 2021, Frank Cannova and Jason Lee delivered written notice to the Board of Directors (the “Board”) of Array Technologies, Inc. (the “Company”) stating that each had resigned from his position as a member of the Board.”

Frank Cannova resigned as Director at Array Technologies, Inc..

“On August 2, 2021, Frank Cannova and Jason Lee delivered written notice to the Board of Directors (the “Board”) of Array Technologies, Inc. (the “Company”) stating that each had resigned from his position as a member of the Board.”