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

FIRST SOLAR, INC. reported $5.2B in revenue and $1.5B in net income for fiscal 2025. See the full FSLR financial statements: income statement, balance sheet, cash flow and ratios, each column linked to its SEC filing.

First Solar VP vests 131 RSUs, sells shares for tax

FIRST SOLAR, INC. executive Nathan B. Theurer, VP – Global Controller and CAO, reported routine equity compensation 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. On March 13, 2026, 131 restricted stock units vested, converting into 131 shares of common stock under the company’s 2020 Omnibus Incentive Compensation Plan.

On March 16 and 17, 2026, all 131 shares of common stock were sold at prices of $200.80 and $199.53 per share. Footnotes state these shares were sold by the company to satisfy tax withholding obligations tied to the vesting, and that the transactions occurred under a previously adopted Rule 10b5-1 trading plan. After these transactions, the filing shows Theurer with no directly held common shares.

Positive

  • None.

Negative

  • None.
Insider Theurer Nathan B.
Role VP - Global Controller and CAO
Sold 131 shs ($26K)
Approx. gross sale proceeds $26K
Approx. exercise cost $0.00
Type Security Shares Price Value
Sale Common Stock 96 $199.53 $19K
Sale Common Stock 35 $200.80 $7K
Exercise Restricted Stock Units 131 $0.00 $0.00
Exercise Common Stock 131 $0.00 $0.00
Holdings After Transaction: Restricted Stock Units — 130 contracts for 131 underlying shares (Direct); Common Stock — 0 shares (Direct)
Footnotes (5)
  1. F1. Represents shares of common stock issued upon vesting of 20% of the restricted stock units granted on March 15, 2022.
  2. F2. Represents shares of common stock sold by the Issuer to satisfy certain tax withholding obligations with the vesting of the restricted stock units.
  3. F3. This transaction was effected pursuant to a Rule 10b5-1 trading plan previously adopted by the reporting person on May 15, 2025.
  4. F4. 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.
  5. F5. The restricted stock units were granted on March 15, 2022 as part of the Issuer's annual equity grant to certain associates. The restricted stock units granted on March 15, 2022 vest annually at a rate of 20% on each anniversary of the grant date, commencing on the first anniversary of the grant date.

FAQ

What insider transactions did First Solar (FSLR) report for Nathan B. Theurer?
Nathan B. Theurer reported vesting of 131 restricted stock units that converted into common shares, followed by sales of all 131 shares. The sales were executed to cover tax withholding obligations associated with the RSU vesting.

How many First Solar (FSLR) shares did Nathan B. Theurer sell and at what prices?
Theurer reported selling a total of 131 First Solar common shares. He sold 35 shares at $200.80 per share and 96 shares at $199.53 per share, with the filing describing these sales as covering tax withholding obligations.

Were Nathan B. Theurer’s First Solar (FSLR) share sales discretionary or pre-planned?
The filing states the sales were made pursuant to a previously adopted Rule 10b5-1 trading plan. Such plans schedule trades in advance, indicating these dispositions were pre-planned rather than opportunistic market-timing decisions by the executive.

Why were First Solar (FSLR) shares sold following Nathan B. Theurer’s RSU vesting?
Footnotes explain the shares were sold by the company to satisfy tax withholding obligations triggered by the vesting of restricted stock units. This is a common, compensation-related mechanism and differs from discretionary open-market selling for investment reasons.

How did these transactions affect Nathan B. Theurer’s First Solar (FSLR) holdings?
After the RSU vesting and subsequent sales, the Form 4 shows Theurer with zero directly held common shares. The sequence reflects RSUs vesting into stock and all resulting shares being disposed of to cover associated tax obligations.

What were the terms of Nathan B. Theurer’s vested First Solar (FSLR) RSUs?
The restricted stock units were granted on March 15, 2022 as part of an annual equity grant and vest 20% on each anniversary of the grant date. Each RSU provides one share of common stock upon vesting, under the 2020 Omnibus Incentive Compensation Plan.

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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*
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)
03/13/2026
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 03/13/2026 M 131(1) A $0 131 D
Common Stock 03/16/2026 S 35(2) D $200.8 96 D
Common Stock 03/17/2026(3) S 96 D $199.53 0 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 (4) 03/13/2026 M 131 (5) (5) Common Stock 131 $0 130 D
Explanation of Responses:
1. Represents shares of common stock issued upon vesting of 20% of the restricted stock units granted on March 15, 2022.
2. Represents shares of common stock sold by the Issuer to satisfy certain tax withholding obligations with the vesting of the restricted stock units.
3. This transaction was effected pursuant to a Rule 10b5-1 trading plan previously adopted by the reporting person on May 15, 2025.
4. 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.
5. The restricted stock units were granted on March 15, 2022 as part of the Issuer's annual equity grant to certain associates. The restricted stock units granted on March 15, 2022 vest annually at a rate of 20% on each anniversary of the grant date, commencing on the first anniversary of the grant date.
/s/ Jason E. Dymbort, attorney-in-fact 03/17/2026
** 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.
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.

Source: View Original Filing on SEC EDGAR