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[Form 4] FIRST SOLAR, INC. Insider Trading Activity

Filing Impact
(Neutral)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

FIRST SOLAR, INC. executive Nathan B. Theurer, VP – Global Controller and CAO, reported routine equity compensation activity and related tax withholding. On March 6, 2026, restricted stock units vested into 481 shares of common stock tied to grants from March 2021, 2023, 2024, and 2025, and he also received a new grant of 635 restricted stock units under the 2020 Omnibus Incentive Compensation Plan.

In connection with the RSU vesting, a total of 157 shares of common stock were sold on March 9, 2026 at $190.36 per share to satisfy tax withholding obligations, rather than as a discretionary open-market sale. Following these transactions, Theurer holds a direct position of common stock and outstanding restricted stock units as reported in the filing.

Positive

  • None.

Negative

  • None.

Insights

Routine RSU vesting, tax-related share sales, and a new grant; no thesis-changing signal.

The filing shows Nathan B. Theurer receiving equity compensation through restricted stock units that vested into 481 common shares, plus a new grant of 635 RSUs under the 2020 Omnibus Incentive Compensation Plan. These RSUs stem from annual equity grants across multiple years.

A total of 157 shares of common stock were sold at $190.36 per share specifically to cover tax withholding obligations triggered by the RSU vesting, as described in the footnotes. This pattern aligns with standard executive compensation mechanics rather than signaling a discretionary change in exposure.

Theurer also retains remaining common shares and outstanding RSUs after these transactions, indicating continued equity alignment with FIRST SOLAR, INC.. Overall, the activity appears routine and compensation-driven, with limited informational value for assessing the company’s broader fundamentals.

Insider Theurer Nathan B.
Role VP - Global Controller and CAO
Sold 157 shs ($30K)
Type Security Shares Price Value
Sale Common Stock 43 $190.36 $8K
Sale Common Stock 27 $190.36 $5K
Sale Common Stock 32 $190.36 $6K
Sale Common Stock 55 $190.36 $10K
Exercise Restricted Stock Units 133 $0.00 --
Exercise Restricted Stock Units 82 $0.00 --
Exercise Restricted Stock Units 95 $0.00 --
Exercise Restricted Stock Units 171 $0.00 --
Grant/Award Restricted Stock Units 635 $0.00 --
Exercise Common Stock 133 $0.00 --
Exercise Common Stock 82 $0.00 --
Exercise Common Stock 95 $0.00 --
Exercise Common Stock 171 $0.00 --
Holdings After Transaction: Common Stock — 438 shares (Direct); Restricted Stock Units — 0 shares (Direct)
Footnotes (1)
  1. Represents shares of common stock issued upon vesting of 20% of the restricted stock units granted on March 6, 2021. Represents shares of common stock issued upon vesting of 25% of the restricted stock units granted on March 6, 2023. Represents shares of common stock issued upon vesting of 25% of the restricted stock units granted on March 6, 2024. Represents shares of common stock issued upon vesting of 25% of the restricted stock units granted on March 6, 2025. Represents shares of common stock sold by the Issuer to satisfy certain tax withholding obligations with the vesting of the restricted stock units. Each restricted stock unit represents the right to receive, upon vesting, one share of the Issuer's common stock in accordance with the Issuer's 2020 Omnibus Incentive Compensation Plan. The restricted stock units were granted on March 6, 2021 as part of the Issuer's annual equity grant to certain associates. The restricted stock units granted on March 6, 2021 vest annually at a rate of 20% on each anniversary of the grant date, commencing on the first anniversary of the grant date. The restricted stock units were granted on March 6, 2023 as part of the Issuer's annual equity grant to certain associates. The restricted stock units granted on March 6, 2023 vest annually at a rate of 25% on each anniversary of the grant date, commencing on the first anniversary of the grant date. The restricted stock units were granted on March 6, 2024 as part of the Issuer's annual equity grant to certain associates. The restricted stock units granted on March 6, 2024 vest annually at a rate of 25% on each anniversary of the grant date, commencing on the first anniversary of the grant date. The restricted stock units were granted on March 6, 2025 as part of the Issuer's annual equity grant to executive officers. The restricted stock units granted on March 6, 2025 vest annually at a rate of 25% on each anniversary of the grant date, commencing on the first anniversary of the grant date. The restricted stock units were granted on March 6, 2026 as part of the Issuer's annual equity grant to executive officers. The restricted stock units granted on March 6, 2026 vest annually at a rate of 25% on each anniversary of the grant date, commencing on the first anniversary of the grant date.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Theurer Nathan B.
(Last) (First) (Middle)
C/O FIRST SOLAR, INC.
4300 E CAMELBACK ROAD, SUITE 220
(Street)
PHOENIX AZ 85018
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
FIRST SOLAR, INC. [ FSLR ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
VP - Global Controller and CAO
3. Date of Earliest Transaction (Month/Day/Year)
03/06/2026
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 03/06/2026 M 133(1) A $0 133 D
Common Stock 03/06/2026 M 82(2) A $0 215 D
Common Stock 03/06/2026 M 95(3) A $0 310 D
Common Stock 03/06/2026 M 171(4) A $0 481 D
Common Stock 03/09/2026 S 43(5) D $190.36 438 D
Common Stock 03/09/2026 S 27(5) D $190.36 411 D
Common Stock 03/09/2026 S 32(5) D $190.36 379 D
Common Stock 03/09/2026 S 55(5) D $190.36 324 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Restricted Stock Units (6) 03/06/2026 M 133 (7) (7) Common Stock 133 $0 0 D
Restricted Stock Units (6) 03/06/2026 M 82 (8) (8) Common Stock 82 $0 83 D
Restricted Stock Units (6) 03/06/2026 M 95 (9) (9) Common Stock 95 $0 190 D
Restricted Stock Units (6) 03/06/2026 M 171 (10) (10) Common Stock 171 $0 516 D
Restricted Stock Units (6) 03/06/2026 A 635 (11) (11) Common Stock 635 $0 635 D
Explanation of Responses:
1. Represents shares of common stock issued upon vesting of 20% of the restricted stock units granted on March 6, 2021.
2. Represents shares of common stock issued upon vesting of 25% of the restricted stock units granted on March 6, 2023.
3. Represents shares of common stock issued upon vesting of 25% of the restricted stock units granted on March 6, 2024.
4. Represents shares of common stock issued upon vesting of 25% of the restricted stock units granted on March 6, 2025.
5. Represents shares of common stock sold by the Issuer to satisfy certain tax withholding obligations with the vesting of the restricted stock units.
6. Each restricted stock unit represents the right to receive, upon vesting, one share of the Issuer's common stock in accordance with the Issuer's 2020 Omnibus Incentive Compensation Plan.
7. The restricted stock units were granted on March 6, 2021 as part of the Issuer's annual equity grant to certain associates. The restricted stock units granted on March 6, 2021 vest annually at a rate of 20% on each anniversary of the grant date, commencing on the first anniversary of the grant date.
8. The restricted stock units were granted on March 6, 2023 as part of the Issuer's annual equity grant to certain associates. The restricted stock units granted on March 6, 2023 vest annually at a rate of 25% on each anniversary of the grant date, commencing on the first anniversary of the grant date.
9. The restricted stock units were granted on March 6, 2024 as part of the Issuer's annual equity grant to certain associates. The restricted stock units granted on March 6, 2024 vest annually at a rate of 25% on each anniversary of the grant date, commencing on the first anniversary of the grant date.
10. The restricted stock units were granted on March 6, 2025 as part of the Issuer's annual equity grant to executive officers. The restricted stock units granted on March 6, 2025 vest annually at a rate of 25% on each anniversary of the grant date, commencing on the first anniversary of the grant date.
11. The restricted stock units were granted on March 6, 2026 as part of the Issuer's annual equity grant to executive officers. The restricted stock units granted on March 6, 2026 vest annually at a rate of 25% on each anniversary of the grant date, commencing on the first anniversary of the grant date.
/s/ Jason E. Dymbort, attorney-in-fact 03/10/2026
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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Source: View Original Filing on SEC EDGAR