SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): December 20, 2021
ARRAY TECHNOLOGIES, INC.
(Exact Name of Registrant as Specified in its Charter)
(State or Other Jurisdiction
3901 Midway Place NE
Albuquerque, New Mexico 87109
(Address of Principal Executive Offices) (Zip Code)
Registrant’s telephone number, including area code: (505) 881-7567
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
|☐||Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)|
|☐||Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)|
|☐||Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))|
|☐||Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
|Title of each class|
Name of each exchange
on which registered
|Common Stock, $0.001 Par Value||ARRY||Nasdaq Global Market|
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
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.
Pursuant to the requirements of the Exchange Act, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| || ||Array Technologies, Inc.|
| || || |
Date: December 20, 2021
| ||By:|| ||/s/ Tyson Hottinger|
| || || || ||Name: Tyson Hottinger|
| || || || ||Title: Chief Legal Officer|
Array Technologies Announces Leadership Updates
Thierry Marin-Martinod Appointed Chief Technology Officer
Chief Marketing Officer Erica Brinker to Succeed Jeff Krantz as Chief Commercial Officer Newly Appointed Chief Revenue Officer Travis Rose to Lead Sales Growth
ALBUQUERQUE, N.M., Dec. 20, 2021 (GLOBE NEWSWIRE) -- Array Technologies (NASDAQ: ARRY) (“Array”), one of the world’s largest providers of utility-scale solar tracker technology, today announced an update to its executive leadership team, including the appointment of Thierry Marin-Martinod as Chief Technology Officer (“CTO”), effective December 20th. A highly accomplished CTO and engineering executive with over 30 years of domestic and international technology experience, Marin-Martinod will lead the design and development of Array’s product portfolio and oversee the R&D program.
“Thierry has a proven track record of generating growth opportunities, building key relationships and leading high stakes projects,” said Jim Fusaro, Chief Executive Officer of Array. “As we aim to further distinguish our products in the marketplace through superior design and engineering, Thierry will be a critical architect of this work and will ensure that we maintain our technology edge and culture of innovation. We’re thrilled to have him lead these efforts.”
Prior to joining Array, Marin-Martinod spent 10 years at TE Connectivity, a global developer of connectivity and sensor solutions, most recently serving as the CTO and Vice President of Engineering & Business Development for the Aerospace Defense & Marine Business Unit. In this role he drove engineering growth strategy, including developing a technology roadmap, establishing an active pipeline of new business and M&A opportunities, and securing product patents. He also previously served as Vice President of Engineering & Marketing at Deutsch, a provider of high-performance connectivity solutions for harsh environment applications, and spent 16 years at Safran Group, most recently as Technical Director where he spearheaded innovation for power plant systems of new Airbus and Boeing aircraft and developed an electrical anti-ice system. Marin-Martinod has a degree in aerospace engineering from Ecole Supérieure des Techniques Aéronautiques et de Construction Automobile in Paris, France.
Array also announced that Chief Marketing Officer Erica Brinker will succeed Jeff Krantz as Chief Commercial Officer, effective January 11th, where she will lead the commercial excellence function in addition to her current responsibilities as Head of Environmental, Social & Governance (ESG) for Array. In this role, she will oversee corporate strategy, marketing and customer & product support.
Prior to joining Array as Chief Marketing Officer in June, Erica most recently served as Chief Marketing Officer and Vice President of Commercial Excellence at Honeywell, where she led business marketing, sales operations, public relations and employee communications. Erica received her BA in Marketing from Pennsylvania State University and her global MBA from Thunderbird School of Global Management.
“We want to thank Jeff for his many contributions during an explosive period of growth for Array,” said Jim Fusaro, Chief Executive Officer of Array Technologies. “The strength of sales during his tenure are immense and he has been instrumental in helping us achieve the leading market position that we hold today. We recognize his efforts and remain grateful for his contributions in building our global commercial team.”
Fusaro added, “As we look toward the future, I have full confidence in Erica’s ability to lead Array through this next phase of international expansion as we grow our global customer base and accelerate the adoption of cost-effective and sustainable clean energy.”
As part of the transition, Travis Rose has been named Chief Revenue Officer in a newly created role responsible for sales as well as global applications engineering. Rose brings 25 years of sales and commercial experience, most recently serving as Array’s Vice President of Sales for the past nearly five years. Previously, Rose led sales for SMA America, a global market leader in solar inverters. He has also held various leadership roles within the solar industry. He has a BA in Business Administration from the University of Texas and an MBA from Colorado State University.
“Travis has a wealth of experience working with customers to understand their unique needs and ensure that our product delivers on their quality, durability and performance expectations” Fusaro said. “Our sales force is strong and incredibly well-positioned to capitalize on increased global demand for solar.”
About Array Technologies, Inc.
Array Technologies (NASDAQ: ARRY) is a leading American company and global provider of utility-scale solar tracker technology. Engineered to withstand the harshest conditions on the planet, Array’s high-quality solar trackers and sophisticated software maximize energy production, accelerating the adoption of cost-effective and sustainable energy. Founded and headquartered in the United States, Array relies on its diversified global supply chain and customer-centric approach to deliver, commission and support solar energy developments around the world, lighting the way to a brighter, smarter future for clean energy. For more news and information on Array, please visit arraytechinc.com.
Laurie Steinberg 845-558-6370
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