ARRAY Technologies Bolsters Board With Two Additional Directors

Rhea-AI Summary

ARRAY Technologies (NASDAQ: ARRY) expanded its Board to ten members by appointing Emily Cohen and Carolyne Murff as independent directors, bringing nine independent directors in total. Ms. Murff joins the Audit Committee; Ms. Cohen joins the Nominating and Corporate Governance Committee.

Ms. Murff was appointed as a Class I director with a term expiring at the 2027 Annual Meeting; Ms. Cohen as a Class II director with a term expiring at the 2028 Annual Meeting. Both have decades of renewable energy experience and executive leadership roles.

News Market Reaction – ARRY

-3.87%

1 alert

-3.87% News Effect

On the day this news was published, ARRY declined 3.87%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Board size: 10 directors Independent directors: 9 independent Murff board term: 2027 Annual Meeting +5 more

8 metrics

Board size 10 directors Post-appointment composition of ARRAY’s Board

Independent directors 9 independent Number of independent directors after adding Cohen and Murff

Murff board term 2027 Annual Meeting Class I director term expiration

Cohen board term 2028 Annual Meeting Class II director term expiration

Cohen experience Over 20 years Cohen’s tenure in the clean energy industry

Murff industry experience Over 30 years Murff’s tenure in the energy industry

Murff at LS Power Over 20 years Murff’s time at LS Power group

Murff CEO role start January 2026 Start date as CEO of Clearlight Energy

Market Reality Check

Price: $6.75 Vol: Volume 3.47M vs 20-day av...

low vol

$6.75 Last Close

Volume Volume 3.47M vs 20-day average 7.84M – trading on lighter-than-normal activity. low

Technical Price $6.97 is trading below the $8.39 200-day moving average, reflecting a longer-term downtrend.

Peers on Argus

ARRY was up about 1.6% with light volume, while key solar peers like SEDG, SHLS,...

4 Up

ARRY was up about 1.6% with light volume, while key solar peers like SEDG, SHLS, SPWR and JKS showed stronger gains and MAXN declined. Scanner momentum flagged several solar names moving up without news, suggesting broader solar interest, but ARRY’s modest move and governance-focused news point more to company-specific dynamics than a pure sector rotation.

Common Catalyst Select solar peers had product and general positive news, but ARRY’s update was governance-focused, not operational or financial.

Historical Context

5 past events · Latest: Feb 25 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 25	Earnings results	Positive	+2.5%	Strong FY25 growth, record orderbook and constructive 2026 guidance.
Feb 23	Conference participation	Neutral	-4.8%	Announcement of management attendance at Jefferies energy conference.
Feb 18	Credit facility upsized	Positive	-6.6%	Revolving credit facility increased to $370M and maturity extended.
Feb 04	Earnings date set	Neutral	-6.9%	Notice of upcoming Q4 and FY25 earnings release and call details.
Jan 06	Leadership promotions	Positive	+5.2%	Promotions to Global Chief Revenue Officer and Chief Product Officer.

Pattern Detected

Recent news has produced mixed reactions: governance and leadership items sometimes drew positive moves, while conference and financing updates often saw negative responses.

Recent Company History

Over the last few months, ARRAY reported strong FY25 results with 40% revenue growth and a record $2.2B orderbook, which saw a modest positive price reaction. Conference participation and an earnings-date notice around late February coincided with sharper declines of ~5–7%. An upsized credit facility and earlier leadership promotions were met with selling and buying, respectively. Today’s board expansion continues a pattern of governance and leadership changes alongside growth initiatives and balance-sheet actions.

Market Pulse Summary

This announcement expands ARRAY’s Board to 10 directors, including 9 independents, by adding two sen...

Analysis

This announcement expands ARRAY’s Board to 10 directors, including 9 independents, by adding two senior leaders with decades of clean energy and power-industry experience. Their committee roles on audit and corporate governance reinforce oversight and strategic input as the company pursues its growth plans. In context of recent earnings strength and balance-sheet actions, investors may watch how these appointments influence governance, risk management, and execution on growth and operational objectives.

Key Terms

audit committee, nominating and corporate governance committee

2 terms

audit committee financial

"Ms. Murff will serve as a member of the Audit Committee of the Board"

A company's audit committee is a small group of board members who act like independent inspectors for the firm's finances, overseeing how financial reports are prepared, monitoring internal controls, and managing the relationship with external auditors. Investors care because a strong audit committee reduces the risk of accounting errors, fraud, or misleading statements, making financial statements more trustworthy and helping protect shareholder value.

nominating and corporate governance committee financial

"Ms. Cohen will serve as a member of the Nominating and Corporate Governance Committee"

A nominating and corporate governance committee is a group within a company's board of directors responsible for selecting and recommending individuals to serve as company leaders, such as directors or executives. They also develop and oversee policies to ensure the company is run fairly, ethically, and transparently. This committee matters to investors because it helps ensure the company is well-managed and guided by qualified, responsible leadership.

AI-generated analysis. Not financial advice.

ALBUQUERQUE, N.M., March 19, 2026 (GLOBE NEWSWIRE) -- ARRAY Technologies (NASDAQ: ARRY) (“ARRAY” or the “Company”), a leading global provider of solar tracking technology products, software, services and foundation solutions, announced that today, its Board of Directors (the “Board”) increased its size to provide for two additional directors and appointed Emily Cohen and Carolyne Murff to serve as independent members of the Company’s Board, effective immediately.

The Board is now comprised of ten directors, of which nine are independent with the additions of Ms. Cohen and Ms. Murff. Ms. Murff was appointed as a Class I director, for a term that expires at the Company’s 2027 Annual Meeting of Stockholders, and Ms. Cohen was appointed as a Class II director, for a term that expires at the Company’s 2028 Annual Meeting of Stockholders. Ms. Murff will serve as a member of the Audit Committee of the Board, and Ms. Cohen will serve as a member of the Nominating and Corporate Governance Committee of the Board.

Ms. Cohen has over 20 years of experience in the clean energy industry, with experience developing projects from concept to operation. Ms. Cohen serves as Chief Commercial Officer of Primergy Solar (“Primergy”), a full-service energy developer, owner, and operator focused on deploying utility-scale solar photovoltaic and battery energy storage projects across the United States, and previously served as Primergy’s Chief Development Officer. Ms. Cohen holds a Bachelor of Arts in Political Science: Public Policy Focus from The George Washington University.

Ms. Murff has worked in the energy industry for over 30 years, including over 20 years at the LS Power group, where she oversaw the operations and commercial activities of their power generation portfolio including renewable power generation. Since January 2026, Ms. Murff has served as Chief Executive Officer of Clearlight Energy, an LS Power portfolio company that develops, owns, and operates wind, solar, battery energy storage, and natural gas projects across the United States and Canada. She previously served as the Chief Operating Officer of REV Renewables, an LS Power portfolio company. Ms. Murff has also served on the board of directors of several private renewable energy companies. Ms. Murff holds a Bachelor of Science in Mechanical Engineering from Texas A&M University.

“We are thrilled to welcome Emily and Carolyne to ARRAY’s Board,” said Brad Forth, Chairman of ARRAY. “They are proven leaders with deep renewable energy expertise and a track record of delivering results for their organizations. We look forward to benefiting from their strategic perspectives, disciplined governance, and industry relationships as we continue advancing our growth strategy, strengthening our operational performance, and delivering long-term value for our stakeholders.”

About ARRAY Technologies
ARRAY Technologies (NASDAQ: ARRY) is a leading global provider of solar tracking technology and fixed tilt systems to utility-scale and distributed generation customers who construct, develop, and operate solar PV sites. With solutions engineered to withstand the harshest weather conditions, ARRAY’s high-quality solar trackers, fixed-tilt systems, software platforms, foundation solutions, and field services combine to optimize energy production and deliver value to our customers for the entire lifecycle of a project. Founded and headquartered in the United States, ARRAY is rooted in manufacturing and driven by technology – relying on its domestic manufacturing, diversified global supply chain, and customer-centric approach to design, deliver, commission, train, and support solar energy deployment around the world. For more news and information on ARRAY, please visit arraytechinc.com.

Forward Looking Statement
This press release contains forward-looking statements. These statements are not historical facts but rather are based on the Company’s current expectations and projections regarding its business, corporate governance, and other factors relating thereto. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates” and similar expressions are used to identify these forward-looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors. Forward-looking statements should be evaluated together with the risks and uncertainties that affect our business and operations, particularly those described in more detail in the Company’s most recent Annual Report on Form 10-K, Quarterly Report on Form-Q and other documents on file with the SEC, each of which can be found on our website www.arraytechinc.com. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

Media Contact
Steven Kirsch
505-738-6923
steven.kirsch@arraytechinc.com

Investor Relations Contact
ARRAY Technologies, Inc.
Investor Relations
investors@arraytechinc.com

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/a12a7e56-dfda-4c3f-b4ee-38dd6b6fba2b
https://www.globenewswire.com/NewsRoom/AttachmentNg/6bd6085b-e6b5-4b4a-9f86-ed10c5bb13a1

FAQ

Who were the new directors appointed to ARRAY Technologies' board on March 19, 2026 (ARRY)?

The company appointed Emily Cohen and Carolyne Murff as independent board members effective March 19, 2026. According to ARRAY, Ms. Murff was named a Class I director and Ms. Cohen a Class II director with staggered term expirations in 2027 and 2028 respectively.

What are the term expirations for the new ARRAY directors Emily Cohen and Carolyne Murff (ARRY)?

Ms. Murff's term expires at ARRAY's 2027 Annual Meeting and Ms. Cohen's at the 2028 Annual Meeting. According to ARRAY, the appointments designate Murff as Class I and Cohen as Class II under the company's board classification schedule.

Which board committees will Emily Cohen and Carolyne Murff serve on at ARRAY (ARRY)?

Carolyne Murff will serve on the Audit Committee and Emily Cohen will serve on the Nominating and Corporate Governance Committee. According to ARRAY, these assignments align with their governance and industry experience to support oversight functions.

How did the board composition change after ARRAY's March 19, 2026 appointments (ARRY)?

ARRAY's Board increased to ten directors, with nine classified as independent following the appointments. According to ARRAY, the additions raise the proportion of independent directors and broaden renewable energy expertise on the board.

What relevant industry experience do Emily Cohen and Carolyne Murff bring to ARRAY's board (ARRY)?

Emily Cohen brings over 20 years in clean energy project development and commercial leadership; Carolyne Murff brings over 30 years including operational oversight at LS Power portfolio companies. According to ARRAY, both have executive roles in utility-scale renewable projects.

Does ARRAY's board change on March 19, 2026 signal any immediate executive leadership shifts at the company (ARRY)?

No immediate executive leadership changes were announced alongside the board additions; the actions concern independent director appointments. According to ARRAY, the move is intended to strengthen governance and renewable energy expertise rather than alter day-to-day management.