[Form 4] First Solar, Inc. Insider Trading Activity

Rhea-AI Filing Summary

On July 3, 2025, Chief Product Officer Patrick James Buehler filed a Form 4 disclosing the sale of 1,600 shares of First Solar, Inc. (FSLR) common stock at a price of $180 per share, for an estimated transaction value of roughly $288,000. The trade was executed under a Rule 10b5-1 pre-arranged trading plan adopted on March 5, 2025, indicating it was scheduled in advance and not based on contemporaneous, non-public information. Following the sale, Buehler’s direct ownership stands at 4,398 shares.

No derivative transactions were reported, and no additional acquisitions or dispositions were disclosed. The filing involves a single executive and represents a modest reduction in personal holdings, amounting to a small fraction of total insider ownership and an immaterial percentage of First Solar’s public float.

Positive

• None.

Negative

• Chief Product Officer sold 1,600 shares (~$288k), reducing direct holdings to 4,398 shares; while modest, insider selling can be perceived cautiously by some investors.

Insights

Financial Analyst

TL;DR: Minor insider sale (1,600 shares) by CPO under 10b5-1 plan; neutral impact on FSLR investment thesis.

Although insider sales can occasionally signal management sentiment, this transaction is small—under $0.3 million—and pre-scheduled via a 10b5-1 plan, limiting its informational value. The executive retains 4,398 shares, suggesting continued alignment with shareholder interests. Overall liquidity and strategic outlook for First Solar remain unchanged; the event is not materially impactful to valuation or governance considerations.

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).

X

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^*

Buehler Patrick James

(Last) (First) (Middle)

C/O FIRST SOLAR, INC.

350 WEST WASHINGTON STREET, SUITE 600

(Street)

TEMPE AZ 85288

(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)
	Chief Product Officer

3. Date of Earliest Transaction (Month/Day/Year)
07/03/2025

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	07/03/2025(1)		S		1,600	D	$180	4,398	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

Explanation of Responses:

1. This transaction was effected pursuant to a Rule 10b5-1 trading plan previously adopted by the reporting person on March 5, 2025.

	/s/ Jason E. Dymbort, attorney-in-fact	07/07/2025
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many FSLR shares did the CPO sell on July 3, 2025?

He sold 1,600 common shares at $180 each.

What is the value of the shares sold by First Solar's CPO?

The estimated transaction value is about $288,000.

Does the Form 4 sale follow a 10b5-1 trading plan?

Yes. The sale was executed under a Rule 10b5-1 plan adopted on March 5, 2025.

How many FSLR shares does the executive own after the sale?

Post-transaction, he directly owns 4,398 shares.

Is the insider transaction considered material to investors?

Given the small size and pre-arranged nature, it is generally viewed as immaterial to First Solar’s fundamentals.