FIRST SOLAR, INC. — fact timeline

FIRST SOLAR, INC. shareholders rejected Stockholder proposal to improve shareholder ability to call for a special shareholder meeting at the 2026-05-13 meeting.

“Stockholders did not approve a stockholder proposal to improve shareholder ability to call for a special shareholder meeting.”

FIRST SOLAR, INC. shareholders approved Advisory resolution on the compensation of named executive officers at the 2026-05-13 meeting.

“Stockholders approved an advisory resolution on the compensation of our named executive officers.”

FIRST SOLAR, INC. shareholders approved Ratification of appointment of PricewaterhouseCoopers LLP as independent registered public accounting firm for 2026 at the 2026-05-13 meeting.

“Stockholders ratified the appointment of PricewaterhouseCoopers LLP as First Solar, Inc.'s independent registered public accounting firm for the year ending December 31, 2026.”

FIRST SOLAR, INC. shareholders approved Election of ten nominees as members of the board of directors at the 2026-05-13 meeting.

“Stockholders elected each of the following ten nominees as members of the board of directors to hold office until the next annual meeting of stockholders or until their respective successors have been elected and qualified.”

FIRST SOLAR, INC. reported the first quarter ended March 31, 2026 results: revenue $1.04 billion, net income $347 million, EPS $3.22 per diluted share. Guidance reaffirmed.

“First Solar, Inc. (Nasdaq: FSLR) (the “Company”), America’s leading PV solar technology and manufacturing company, today announced financial results for the first quarter ended March 31, 2026 and reaffirmed its 2026 guidance. Net sales were $1.04 billion for the first quarter of 2026, a 24% increase compared to the first quarter of 2025, driven primarily by an increase in the volume of modules sold to third parties. The Company reported first quarter net income of $347 million, or $3.22 per diluted share, compared to $210 million, or $1.95 per diluted share, in the first quarter of 2025.”

FIRST SOLAR, INC. incurred revolving credit of $1,500,000,000 with JPMorgan Chase Bank, N.A., as administrative agent at Term SOFR Rate plus a margin of 1.000% to 1.500% maturing five years from the closing date.

“The Credit Agreement provides the Company with a senior unsecured five-year revolving credit facility (the “Credit Facility”) in an aggregate principal amount of $1,500,000,000, with a sub-limit of $450,000,000 available for the issuance of letters of credit.”

FIRST SOLAR, INC. terminated Existing Credit Agreement with JPMorgan Chase Bank, N.A. valued at Voluntary termination of senior secured revolving credit agreement dated June 30, 2023 (effective 2026-02-13).

“On February 13, 2026, substantially concurrently with the Company’s entry into the Credit Agreement, the Company voluntarily terminated its existing senior secured revolving credit agreement (the “Existing Credit Agreement”), dated as of June 30, 2023 and as amended from time to time, among the Company, the guarantors from time to time party thereto, the several banks and other financial institutions or entities from time to time parties thereto, and JPMorgan Chase Bank, N.A., as administrative agent.”

FIRST SOLAR, INC. entered into Revolving Credit and Guaranty Agreement with JPMorgan Chase Bank, N.A. valued at $1,500,000,000 senior unsecured five-year revolving credit facility with $450,000,000 sub-limit for (effective 2026-02-13).

“On February 13, 2026, First Solar, Inc. (the “Company”) entered into a Revolving Credit and Guaranty Agreement (the “Credit Agreement”), among the Company, the guarantors from time to time party thereto, the several banks and other financial institutions or entities from time to time parties thereto (the “Lenders”), and JPMorgan Chase Bank, N.A., as administrative agent (the “Administrative Agent”).”

Molly E. Joseph departed as Director at FIRST SOLAR, INC..

“On March 12, 2025, Molly E. Joseph notified First Solar, Inc. (the “Company”) that she will not stand for re-election as a member of the Company’s Board of Directors (the “Board”) at the Company’s 2025 Annual Meeting of Stockholders”

Byron Jeffers was appointed as Vice President, Treasurer and Head of Investor Relations at FIRST SOLAR, INC..

“Also effective January 6, 2025, Byron Jeffers, former Vice President, Global Controller and Chief Accounting Officer, has been appointed Vice President, Treasurer and Head of Investor Relations at First Solar.”

Nathan Theurer was appointed as Vice President, Global Controller and Chief Accounting Officer at FIRST SOLAR, INC..

“On January 3, 2025, First Solar, Inc. (“First Solar” or the “Company”) appointed Nathan Theurer, age 44, to the position of Vice President, Global Controller and Chief Accounting Officer, effective January 6, 2025”

FIRST SOLAR, INC.: Amended and restated bylaws to permit stockholders owning 25% or more of outstanding common stock and complying with other requirements to call special meetings of stockholders (effective 2024-05-08).

“the stockholders of the Company approved the amendment and restatement of the Company’s amended and restated bylaws (as amended and restated, the “A&R Bylaws”) to enable stockholders who own 25% or more of the Company’s outstanding common stock and who comply with the other applicable requirements as set forth in the A&R Bylaws, including a one-year holding period, to call a special meeting of stockholders. The A&R Bylaws became effective on May 8, 2024.”

FIRST SOLAR, INC. shareholders rejected Stockholder proposal to adopt a shareholder right to call a special shareholder meeting at the 2024-05-08 meeting.

“Stockholders did not approve a stockholder proposal to adopt a shareholder right to call a special shareholder meeting.”

FIRST SOLAR, INC. shareholders approved Amendment and restatement of bylaws to permit stockholders to call special meetings at the 2024-05-08 meeting.

“Stockholders approved an amendment and restatement of our bylaws to permit stockholders to call special meetings.”

FIRST SOLAR, INC. shareholders approved Advisory resolution on compensation of named executive officers at the 2024-05-08 meeting.

“Stockholders approved an advisory resolution on the compensation of our named executive officers.”

FIRST SOLAR, INC. shareholders approved Ratification of PricewaterhouseCoopers LLP as independent registered public accounting firm at the 2024-05-08 meeting.

“Stockholders ratified the appointment of PricewaterhouseCoopers LLP as First Solar, Inc.’s independent registered public accounting firm for the year ending December 31, 2024.”

FIRST SOLAR, INC. shareholders approved Election of ten nominees to the board of directors at the 2024-05-08 meeting.

“Stockholders elected each of the following ten nominees as members of the board of directors to hold office until the next annual meeting of stockholders or until their respective successors have been elected and qualified.”

FIRST SOLAR, INC. reported first quarter ended March 31, 2024 results: revenue $794 million, net income $2.20 per diluted share, EPS $2.20. Guidance reaffirmed.

“99.1) --- EX-99.1 2 ex991pressreleaseq1-2024.htm EXHIBIT 99.1 Document EXHIBIT 99.1 News Release First Solar, Inc. Announces First Quarter 2024 Financial Results • Net sales of $794 million • Net income per diluted share of $2.20 • Net cash balance of $1.4 billion • Maintain full-year 2024 P&L guidance • YTD net bookings of 2.7 GW with an average selling price”

FIRST SOLAR, INC. reported the full year ended December 31, 2023 results: revenue $3.3 billion, net income net income per diluted share of $7.74, EPS $7.74. Guidance raised.

“First Solar, Inc. Announces Fourth Quarter and Full Year 2023 Financial Results and 2024 Guidance • Net sales of $3.3 billion for 2023 and $1.2 billion for the fourth quarter • Net income per diluted share of $7.74 for 2023 and $3.25 for the fourth quarter • 2023 year-end net cash balance of $1.6 billion • 2023 net bookings of 28.3 GW; 2.3 GW since third quarter earnings call at a base ASP of 31.8 c/w • 2024 net sales guidance of $4.4 billion to $4.6 billion • 2024 EPS guidance of $13.00 to $14.00 per diluted share • 2024 year-end net cash balance guidance of $0.9 billion to $1.2 billion TEMPE, Ariz., February 27, 2024 – First Solar, Inc. (Nasdaq: FSLR) (the “Company”) today announced financial results for the fourth quarter and year ended December 31, 2023. Net sales for the fourth quarter were $1.2 billion, an increase of $0.4 billion from the prior quarter. The increase was primarily a result of increased module sales in the fourth quarter. Net sales for the full year 2023 were $3.3”

FIRST SOLAR, INC. reported the fourth quarter ended December 31, 2023 results: revenue $1.2 billion, net income net income per diluted share of $3.25, EPS $3.25. Guidance raised.

“First Solar, Inc. Announces Fourth Quarter and Full Year 2023 Financial Results and 2024 Guidance • Net sales of $3.3 billion for 2023 and $1.2 billion for the fourth quarter • Net income per diluted share of $7.74 for 2023 and $3.25 for the fourth quarter • 2023 year-end net cash balance of $1.6 billion • 2023 net bookings of 28.3 GW; 2.3 GW since third quarter earnings call at a base ASP of 31.8 c/w • 2024 net sales guidance of $4.4 billion to $4.6 billion • 2024 EPS guidance of $13.00 to $14.00 per diluted share • 2024 year-end net cash balance guidance of $0.9 billion to $1.2 billion TEMPE, Ariz., February 27, 2024 – First Solar, Inc. (Nasdaq: FSLR) (the “Company”) today announced financial results for the fourth quarter and year ended December 31, 2023. Net sales for the fourth quarter were $1.2 billion, an increase of $0.4 billion from the prior quarter. The increase was primarily a result of increased module sales in the fourth quarter. Net sales for the full year 2023 were $3.3”

Craig Kennedy departed as Director at FIRST SOLAR, INC..

“On February 13, 2024, Richard D. Chapman, George A. (“Chip”) Hambro, and Craig Kennedy each notified First Solar, Inc. (the “Company”) that they will retire as a member of the Company’s Board of Directors (the “Board”) and not stand for re-election at the Company’s 2024 Annual Meeting of Stockholders (the “2024 Annual Meeting”).”

George A. Hambro departed as Director at FIRST SOLAR, INC..

“On February 13, 2024, Richard D. Chapman, George A. (“Chip”) Hambro, and Craig Kennedy each notified First Solar, Inc. (the “Company”) that they will retire as a member of the Company’s Board of Directors (the “Board”) and not stand for re-election at the Company’s 2024 Annual Meeting of Stockholders (the “2024 Annual Meeting”).”

Richard D. Chapman departed as Director at FIRST SOLAR, INC..

“On February 13, 2024, Richard D. Chapman, George A. (“Chip”) Hambro, and Craig Kennedy each notified First Solar, Inc. (the “Company”) that they will retire as a member of the Company’s Board of Directors (the “Board”) and not stand for re-election at the Company’s 2024 Annual Meeting of Stockholders (the “2024 Annual Meeting”).”

FIRST SOLAR, INC. entered into Tax Credit Transfer Agreement (Variable) with Fiserv, Inc. valued at up to $200,000,000 of additional Tax Credits (effective 2023-12-22).

“Pursuant to the Tax Credit Transfer Agreement (Variable) (the “Variable Transfer Agreement” and, together with the Fixed Transfer Agreement, the “Transfer Agreements”), the Company agreed to sell to the Purchaser up to $200,000,000 of additional Tax Credits associated with the Eligible Transactions.”

FIRST SOLAR, INC. entered into Tax Credit Transfer Agreement (Fixed) with Fiserv, Inc. valued at $500,000,000 of advanced manufacturing production tax credits (effective 2023-12-22).

“On December 22, 2023, First Solar, Inc. (the “Company”) entered into two separate Tax Credit Transfer Agreements with Fiserv, Inc. (the “Purchaser”). Pursuant to the Tax Credit Transfer Agreement (Fixed) (the “Fixed Transfer Agreement”), the Company agreed to sell to the Purchaser $500,000,000 of advanced manufacturing production tax credits”

FIRST SOLAR, INC. reported the second quarter ended June 30, 2023 results: revenue $811 million, EPS $1.59. Guidance reaffirmed.

“Net sales for the second quarter were $811 million, an increase of $262 million from the prior quarter. The increase was primarily driven by an increase in the volume of modules sold, including the commencement of sales of the Company’s next-generation Series 7 modules, and an increase in the average selling price (“ASP”) of our modules. The Company reported second quarter net income per diluted share of $1.59, compared to net income per diluted share of $0.40 in the first quarter of 2023.”

FIRST SOLAR, INC.: Amended and restated bylaws to update director nomination procedures, add proxy access, and make other technical changes (effective 2023-07-20).

“On July 20, 2023, the Board of Directors (the “Board”) of First Solar, Inc. (the “Company”) amended and restated the Company’s Amended and Restated Bylaws (as amended and restated, the “A&R Bylaws”), which became effective the same day.”

FIRST SOLAR, INC. incurred revolving credit of $1,000,000,000 with JPMorgan Chase Bank, N.A., as administrative agent at Term SOFR Rate plus 0.10% credit spread adjustment plus margin of 1.750% to 2.25 maturing five years.

“On June 30, 2023, First Solar, Inc. (the “Company”) entered into a Revolving Credit and Guaranty Agreement (the “Credit Agreement”), among the Company, the guarantors from time to time party thereto, the several banks and other financial institutions or entities from time to time parties thereto (the “Lenders”), and JPMorgan Chase Bank, N.A., as administrative agent (the “Administrative Agent”). The Credit Agreement provides the Company with a senior secured five-year revolving credit facility (the “Credit Facility”) in an aggregate principal amount of $1,000,000,000”

FIRST SOLAR, INC. entered into Revolving Credit and Guaranty Agreement with JPMorgan Chase Bank, N.A., as administrative agent, and the several banks and other financial institutions or entities from time to time parties thereto valued at $1,000,000,000 (effective 2023-06-30).

“On June 30, 2023, First Solar, Inc. (the “Company”) entered into a Revolving Credit and Guaranty Agreement (the “Credit Agreement”), among the Company, the guarantors from time to time party thereto, the several banks and other financial institutions or entities from time to time parties thereto (the “Lenders”), and JPMorgan Chase Bank, N.A., as administrative agent (the “Administrative Agent”).”

FIRST SOLAR, INC. shareholders approved To approve, on an advisory basis, the frequency of the advisory vote on the compensation of our named executive officers. at the 2023-05-09 meeting.

“Proposal No. 4: To approve, on an advisory basis, the frequency of the advisory vote on the compensation of our named executive officers. Votes Cast For 1 Year Votes Cast For 2 Years Votes Cast For 3 Years Abstentions Broker Non-Votes 80,099,216 76,332 1,770,401 57,092 7,999,273”

FIRST SOLAR, INC. shareholders approved To approve, on an advisory basis, the compensation of our named executive officers. at the 2023-05-09 meeting.

“Proposal No. 3: To approve, on an advisory basis, the compensation of our named executive officers. Votes Cast For Votes Cast Against Abstentions Broker Non-Votes 77,326,619 3,860,544 815,878 7,999,273”

FIRST SOLAR, INC. shareholders approved To ratify the appointment of PricewaterhouseCoopers LLP as First Solar's independent registered public accounting firm for the year ending December 31, 2023. at the 2023-05-09 meeting.

“Proposal No. 2: To ratify the appointment of PricewaterhouseCoopers LLP as First Solar’s independent registered public accounting firm for the year ending December 31, 2023. Votes Cast For Votes Cast Against Abstentions Broker Non-Votes 85,323,512 4,607,508 71,294 —”

FIRST SOLAR, INC. shareholders approved To elect twelve members of the board of directors to hold office until the next annual meeting of stockholders or until their respective successors have been elected and qualified. at the 2023-05-09 meeting.

“Proposal No. 1: To elect twelve members of the board of directors to hold office until the next annual meeting of stockholders or until their respective successors have been elected and qualified. Nominees Votes Cast For Votes Cast Against Abstentions Broker Non-Votes Michael J. Ahearn 77,170,490 3,664,461 1,168,090 7,999,273 Richard D. Chapman 77,218,454 3,243,970 1,540,617 7,999,273 Anita Marangoly George 80,000,540 452,060 1,550,441 7,999,273 George A. Hambro 76,764,495 3,400,317 1,838,229 7,999,273 Molly E. Joseph 77,091,639 3,380,120 1,531,282 7,999,273 Craig Kennedy 76,321,247 4,141,500 1,540,294 7,999,273 Lisa A. Kro 79,604,677 863,939 1,534,425 7,999,273 William J. Post 73,010,641 7,454,300 1,538,100 7,999,273 Paul H. Stebbins 68,097,884 12,354,883 1,550,274 7,999,273 Michael Sweeney 72,001,626 8,457,825 1,543,590 7,999,273 Mark R. Widmar 79,398,090 1,432,719 1,172,232 7,999,273 Norman L. Wright 76,121,506 4,336,650 1,544,885 7,999,273”

FIRST SOLAR, INC. reported full year 2023 results: revenue $3.4B to $3.6B, EPS $7.00 to $8.00. Guidance reaffirmed.

“2023 guidance remains unchanged. The complete 2023 guidance is as follows: Prior Current Net Sales $3.4B to $3.6B Unchanged Gross Margin (1) $1.2B to $1.3B Unchanged Operating Expenses (2) $415M to $440M Unchanged Operating Income (3) $745M to $870M Unchanged Earnings per Diluted Share $7.00 to $8.00 Unchanged Net Cash Balance (4) $1.2B to $1.5B Unchanged Capital Expenditures $1.9B to $2.1B Unchanged Volume Sold 11.8GW to 12.3GW Unchanged”

FIRST SOLAR, INC. reported fiscal year 2023 results: revenue $3.4 billion to $3.6 billion, EPS $7.00 to $8.00 per diluted share. Guidance initiated.

“2023 net sales guidance of $3.4 billion to $3.6 billion • 2023 EPS guidance of $7.00 to $8.00 per diluted share • Year-end 2023 net cash balance guidance of $1.2 billion to $1.5 billion”

FIRST SOLAR, INC. reported the fiscal year ended December 31, 2022 results: revenue $2.6 billion, EPS ($0.41) per diluted share.

“Net sales of $2.6 billion for 2022 and $1.0 billion for the fourth quarter • Net loss per diluted share of $0.41 for 2022 and $0.07 for the fourth quarter”

FIRST SOLAR, INC. reported the fourth quarter ended December 31, 2022 results: revenue $1.0 billion, EPS ($0.07) per diluted share.

“Net sales of $2.6 billion for 2022 and $1.0 billion for the fourth quarter • Net loss per diluted share of $0.41 for 2022 and $0.07 for the fourth quarter”

FIRST SOLAR, INC. reported the third quarter ended September 30, 2022 results: revenue $629 million, net income loss per diluted share of $0.46, EPS $0.46 loss per diluted share. Guidance lowered.

“99.1) --- EX-99.1 2 ex991pressreleaseq3-2022.htm EXHIBIT 99.1 Document EXHIBIT 99.1 News Release First Solar, Inc. Announces Third Quarter 2022 Financial Results • Net sales of $629 million • Net loss per diluted share of $0.46 • Cash, cash equivalents, restricted cash, and marketable securities of $1.9 billion • YTD net bookings of 43.7 GW DC • 16.6 GW DC of net”

Kathryn A. Hollister departed as Director at FIRST SOLAR, INC..

“Kathryn A. (“Katy”) Hollister notified First Solar, Inc. (the “Company”) that she will not stand for re-election as a member of the Company’s Board of Directors”

Sharon L. Allen departed as Director at FIRST SOLAR, INC..

“On February 16, 2022, Sharon L. Allen notified First Solar, Inc. (the “Company”) that she will not stand for re-election as a member of the Company’s Board of Directors (the “Board”) at the Company’s 2022 Annual Meeting of Stockholders (the “2022 Annual Meeting”).”

Anita Marangoly George was appointed as Director at FIRST SOLAR, INC..

“On July 15, 2021, the Board of Directors (the “Board”) of First Solar, Inc. (the “Company” or “First Solar”) increased the size of the Board to 12 directors and appointed Anita Marangoly George to the Board to fill the newly created directorship, effective July 15, 2021.”