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

Rhea-AI Filing Summary

First Solar CEO and director Mark R. Widmar reported multiple open-market sales of 2,321 shares of First Solar, Inc. (FSLR) on 08/15/2025 under a previously adopted Rule 10b5-1 trading plan. The sales were reported in separate transactions at weighted-average prices per line ranging from $185.15 to $205.92 (individual trade price ranges spanned approximately $185.00 to $206.25 across all lines). Following these disposals, the reporting person beneficially owned 81,861 shares. The Form 4 discloses that the sales were executed in multiple trades and that the reporting person will provide breakdowns of quantities at each price on request.

Positive

• Sales were executed under a Rule 10b5-1 trading plan, indicating the transactions were pre-planned and provide an affirmative defense under SEC rules
• Detailed pricing and commitment to provide per-trade breakdowns improve transparency for investors

Negative

• Insider disposed of 2,321 shares on 08/15/2025, which some investors may view as a negative signal despite the 10b5-1 plan
• Beneficial ownership decreased to 81,861 shares following the reported transactions

Insights

Securities Analyst

TL;DR CEO sold a modest number of shares via a pre-established 10b5-1 plan; transaction is routine but notable for transparency.

The Form 4 shows Mark R. Widmar executed multiple sales totaling 2,321 shares on 08/15/2025 under a 10b5-1 trading plan adopted May 13, 2025. Pricing lines report weighted-average prices per line from $185.15 to $205.92 with underlying trade price ranges up to $206.25. The reporting person retained 81,861 shares after the sales. From a market-impact perspective, the volumes disclosed are small relative to typical First Solar market float, and the use of a 10b5-1 plan reduces concerns about opportunistic timing. The filing increases transparency but does not, by itself, indicate a change in company fundamentals.

Corporate Governance Expert

TL;DR Insider sales executed under a documented 10b5-1 plan reflect governance discipline though may attract investor attention.

The disclosure confirms the CEO is operating under an affirmative defense trading plan, which is best practice for scheduled insider trading. The form provides granular weighted-average prices and footnotes committing to furnish per-trade breakdowns on request, enhancing disclosure quality. While insider selling can raise questions for some investors, the documented plan and post-transaction beneficial ownership of 81,861 shares support that these are scheduled disposals rather than ad hoc sales tied to material nonpublic information.

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^*

Widmar Mark R

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

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	08/15/2025(1)		S		47	D	$185.15(2)	84,135	D
Common Stock	08/15/2025(1)		S		9	D	$186.47(3)	84,126	D
Common Stock	08/15/2025(1)		S		152	D	$189.98(4)	83,974	D
Common Stock	08/15/2025(1)		S		192	D	$191.3(5)	83,782	D
Common Stock	08/15/2025(1)		S		30	D	$192.35(6)	83,752	D
Common Stock	08/15/2025(1)		S		33	D	$192.8(7)	83,719	D
Common Stock	08/15/2025(1)		S		24	D	$194.25(8)	83,695	D
Common Stock	08/15/2025(1)		S		179	D	$195.19(9)	83,516	D
Common Stock	08/15/2025(1)		S		36	D	$196.64(10)	83,480	D
Common Stock	08/15/2025(1)		S		83	D	$197.84(11)	83,397	D
Common Stock	08/15/2025(1)		S		58	D	$198.68(12)	83,339	D
Common Stock	08/15/2025(1)		S		160	D	$199.84(13)	83,179	D
Common Stock	08/15/2025(1)		S		28	D	$200.92(14)	83,151	D
Common Stock	08/15/2025(1)		S		152	D	$202.13(15)	82,999	D
Common Stock	08/15/2025(1)		S		509	D	$203.08(16)	82,490	D
Common Stock	08/15/2025(1)		S		512	D	$203.97(17)	81,978	D
Common Stock	08/15/2025(1)		S		83	D	$205.05(18)	81,895	D
Common Stock	08/15/2025(1)		S		34	D	$205.92(19)	81,861	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 May 13, 2025.

2. This transaction was executed in multiple trades at prices ranging from $185 to $185.88. The price reported above reflects the weighted average sale price for the transactions reported on this line. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

3. This transaction was executed in multiple trades at prices ranging from $186.06 to $186.99. The price reported above reflects the weighted average sale price for the transactions reported on this line. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

4. This transaction was executed in multiple trades at prices ranging from $189.35 to $190. The price reported above reflects the weighted average sale price for the transactions reported on this line. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

5. This transaction was executed in multiple trades at prices ranging from $190.58 to $191.50. The price reported above reflects the weighted average sale price for the transactions reported on this line. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

6. This transaction was executed in multiple trades at prices ranging from $191.65 to $192.60. The price reported above reflects the weighted average sale price for the transactions reported on this line. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

7. This transaction was executed in multiple trades at prices ranging from $192.67 to $193.19. The price reported above reflects the weighted average sale price for the transactions reported on this line. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

8. This transaction was executed in multiple trades at prices ranging from $193.99 to $194.93. The price reported above reflects the weighted average sale price for the transactions reported on this line. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

9. This transaction was executed in multiple trades at prices ranging from $195 to $195.75. The price reported above reflects the weighted average sale price for the transactions reported on this line. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

10. This transaction was executed in multiple trades at prices ranging from $196.25 to $197.01. The price reported above reflects the weighted average sale price for the transactions reported on this line. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

11. This transaction was executed in multiple trades at prices ranging from $197.35 to $198.28. The price reported above reflects the weighted average sale price for the transactions reported on this line. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

12. This transaction was executed in multiple trades at prices ranging from $198.39 to $199.12. The price reported above reflects the weighted average sale price for the transactions reported on this line. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

13. This transaction was executed in multiple trades at prices ranging from $199.44 to $200.29. The price reported above reflects the weighted average sale price for the transactions reported on this line. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

14. This transaction was executed in multiple trades at prices ranging from $200.45 to $201.38. The price reported above reflects the weighted average sale price for the transactions reported on this line. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

15. This transaction was executed in multiple trades at prices ranging from $201.50 to $202.34. The price reported above reflects the weighted average sale price for the transactions reported on this line. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

16. This transaction was executed in multiple trades at prices ranging from $202.54 to $203.53. The price reported above reflects the weighted average sale price for the transactions reported on this line. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

17. This transaction was executed in multiple trades at prices ranging from $203.54 to $204.50. The price reported above reflects the weighted average sale price for the transactions reported on this line. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

18. This transaction was executed in multiple trades at prices ranging from $204.66 to $205.65. The price reported above reflects the weighted average sale price for the transactions reported on this line. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

19. This transaction was executed in multiple trades at prices ranging from $205.73 to $206.25. The price reported above reflects the weighted average sale price for the transactions reported on this line. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

	/s/ Jason E. Dymbort, attorney-in-fact	08/18/2025
	** 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

What did Mark R. Widmar sell on the Form 4 for FSLR?

The Form 4 reports Mark R. Widmar sold a total of 2,321 shares of First Solar (FSLR) on 08/15/2025 in multiple transactions.

Were the sales by the CEO of FSLR part of a 10b5-1 trading plan?

Yes. The filing states the transactions were effected pursuant to a Rule 10b5-1 trading plan adopted May 13, 2025.

What prices were the FSLR shares sold at in the filing?

The filing shows weighted-average sale prices by line from $185.15 to $205.92, with underlying trade price ranges across lines approximately $185.00 to $206.25.

How many FSLR shares does the reporting person own after these transactions?

Following the reported sales, the reporting person beneficially owned 81,861 shares of FSLR.

Does the Form 4 provide per-trade quantity details?

The Form 4 reports aggregated lines with weighted-average prices and states the reporting person will provide full information regarding the number of shares sold at each separate price upon request.