SEC Form 4 · accession 0001127602-15-012331
FIRST SOLAR, INC. · FSLR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
James Alton Hughes
Officer — Chief Executive Officer · Director
Period of report
Mar 19, 2015
Accepted (ET)
Mar 23, 2015 · 5:31 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001274494
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Mar 19, 2015 | M | 10,464 | $0.00 | A | 26,921 | D | |
| Common StockF2 | Mar 19, 2015 | F | 4,830 | $60.30 | D | 22,091 | D | |
| Common StockF3 | Mar 19, 2015 | J | 2,817 | $0.00 | D | 19,274 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF4,F5 | — | Mar 19, 2015 | M | 10,464 | D | — | — | Common Stock | 10,464 | 10,464 | D |
Explanation of responses
- F1Represents shares of common stock issued upon vesting of 25% of the restricted stock units granted on March 19, 2012.
- F2Represents shares of common stock withheld by the Issuer to satisfy certain tax withholding obligations associated with the vesting of the restricted stock units.
- F3Represents shares transferred to the reporting person's ex-spouse pursuant to a divorce decree. The securities owned by the ex-spouse are not beneficially owned by the reporting person. Half of the shares issued pursuant to vesting of the restricted stock unit grant described below (subsequent to the Issuer's withholding of shares to satisfy certain tax withholding obligations associated with the vesting of the restricted stock units) are required to be transferred to the reporting person's ex-spouse pursuant to the divorce decree. The restricted stock units were granted on March 19, 2012 pursuant to the reporting person's Employment Agreement. These units are scheduled to vest annually at a rate of 25% on each anniversary of the grant date, beginning March 19, 2013.
- F4Each restricted stock unit represents the right to receive, upon vesting, one share of the Issuer's common stock in accordance with the Issuer's 2010 Omnibus Incentive Compensation Plan.
- F5The restricted stock units were granted on March 19, 2012 pursuant to the Reporting Person's Employment Agreement. These units are scheduled to vest annually at a rate of 25% on each anniversary of the grant date, beginning March 19, 2013.