01—Abstract
Summary
Summary of the 8-K filed March 19, 2021. Cited figures are marked; the original filing is the authoritative source.
First Solar, Inc. (FSLR) announced a board expansion and the appointment of Kathryn A.
Hollister as a new director, effective March 19, 2021. The Board's size has increased to 11 directors to accommodate this appointment.
Ms. Hollister brings extensive experience, having served as Chief Strategy Officer for Deloitte Tax LLP and Managing Partner of its Business Tax Service line, with a strong background in advising public and private companies, particularly in manufacturing and consumer products sectors. Her prior board experience includes roles on the Deloitte LLP board and the Deloitte Touche Tohmatsu Limited global board, as well as on the boards of Duke University and the University of Cincinnati Foundation.
02—Key points
Key Highlights
- First Solar's Board of Directors has been expanded to 11 members.
- Kathryn A. Hollister has been appointed as a new director to the Board, effective March 19, 2021.
- Ms. Hollister will serve on the Board's audit and compensation committees.
- Ms. Hollister possesses significant executive and board-level experience from her career at Deloitte Tax LLP, including leadership roles in strategy and global operations.
- Her expertise spans advising public and private companies, with a focus on manufacturing and consumer products.
- Ms. Hollister's qualifications include being a certified public accountant and holding a Juris Doctor degree.
03—Questions
Frequently Asked Questions
Why has First Solar expanded its Board of Directors?
First Solar expanded its Board of Directors to accommodate the appointment of a new director, Kathryn A. Hollister, increasing the total number of directors from 10 to 11.
What relevant experience does the new director, Kathryn A. Hollister, bring to First Solar?
Ms. Hollister brings extensive experience from her 36-year tenure at Deloitte Tax LLP, where she held significant leadership positions such as Chief Strategy Officer and Managing Partner. She has a strong background in advising public and private companies, particularly within the manufacturing and consumer products sectors, and has served on multiple corporate and university foundation boards.
What committees will Ms. Hollister serve on?
Ms. Hollister has been appointed to serve on the Board's audit and compensation committees.
How will Ms. Hollister be compensated for her role on the Board?
Ms. Hollister will receive compensation consistent with First Solar's standard practices for non-associate directors, which includes annual retainers and equity-based compensation. She has also entered into a standard Director and Officer Indemnification Agreement.
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