First Solar Inc

1. 1

   Election of Directors

   ManagementBoard: FOR

   Elect ten nominees to the board of directors to hold office until the next annual meeting or until their successors are elected and qualified.

2. 2

   Ratification of the Appointment of PricewaterhouseCoopers LLP

   ManagementBoard: FOR

   Ratify the audit committee’s appointment of PricewaterhouseCoopers LLP as First Solar’s independent registered public accounting firm for the year ending December 31, 2026.

3. 3

   Advisory Vote on Executive Compensation

   ManagementBoard: FOR

   Non-binding advisory vote to approve the compensation of the named executive officers as disclosed in the proxy statement (‘‘say-on-pay’’).

   More detail

   This advisory proposal asks stockholders to approve, on a non-binding basis, the compensation of the named executive officers as disclosed in the proxy statement. Management is seeking shareholder endorsement of its executive pay program to validate its approach of tying significant portions of pay to performance and to maintain alignment between management incentives and long-term stockholder returns. The Company’s compensation program for 2025 featured a mix of base salary, a performance-based annual cash bonus tied to adjusted net operating income and other corporate metrics, and long-term equity awards composed of RSUs and performance units (PUs) under the Executive Performance Equity Plan (EPEP). In 2025 the mix between PUs and RSUs was shifted (with a higher weighting to RSUs) because of complexities in setting performance goals in a changing regulatory environment; the board states its intent to move back toward a heavier PU weighting in future years. Key performance metrics referenced by management include adjusted net operating income, year-end net cash, safety, core cost-per-watt produced, R&D milestones (CuRe/perovskite progress), and U.S.-made volume sold—metrics the board contends are aligned with long-term competitiveness. The resolution is non-binding, so even if approved it would not legally compel the board to change compensation, but the board and compensation committee committed to consider the outcome when setting future pay. The board recommends a FOR vote, arguing that the plan encourages long-term value creation while retaining and motivating executives through a balanced set of short- and long-term measures. From a governance perspective, a FOR vote signals shareholder support for the current mix of pay-for-performance elements and the committee’s discretion in calibrating awards; a vote AGAINST would signal material shareholder dissatisfaction and likely prompt further engagement and program changes. The advisory nature of the vote, coupled with the Company’s disclosure of governance practices (clawback policy, share ownership guidelines, double-trigger CIC vesting), frames the proposal as a request for endorsement rather than a binding change to compensation design.

4. 4

   Stockholder Proposal – Improve Shareholder Ability to Call for a Special Shareholder Meeting

   Shareholder — John CheveddenBoard: AGAINST

   Amend governing documents to permit holders of a combined 10% of outstanding common stock (or the lowest percentage allowed by state law) and without any minimum holding period to call a special shareholder meeting.

   More detail

   The proponent requests that the company amend its governing documents to permit holders of 10% of outstanding shares (or the minimum allowed under state law) and without any minimum holding period to call a special shareholder meeting, arguing that recent purchasers are often the most informed and that the current 25%/one-year rule is excessively burdensome and insulating for the board. The proposal targets the Company’s special meeting bylaws adopted after a 2024 stockholder vote and frames the change as a tool to hold the board accountable in a period of regulatory and market uncertainty for solar companies. Management opposes the proposal, arguing that the current 25% threshold with a one-year holding requirement—approved by over 96% of stockholders in 2024—appropriately balances enabling serious stockholder-initiated actions with protecting the company from short-term, special-interest driven disruptions. From a governance analysis perspective, lowering the threshold to 10% and removing the holding period would materially lower the barrier to convene a special meeting, increasing the risk that small coalitions or activist groups could force costly and distracting special meetings that divert management time and company resources. The board’s arguments emphasize practical costs (printing, solicitation, tabulation, management distraction) and reliance on SEC Rule 14a-8 precedent that a holding period evidences an economic stake, but these arguments must be weighed against stockholder rights and the ability to respond to urgent issues between annual meetings. Company-specific context includes the proponent’s reference to 2025 operational and market pressures (tariff regime, guidance revisions, reliance on tax credits) that could motivate stockholders to seek extraordinary forums; however, the board points to a prior 2025 vote where a similar proposal was rejected by over 84% of votes cast, indicating limited shareholder appetite for change. The trade-off is clear: a lower threshold increases shareholder ability to act quickly but raises governance risks of short-termism and procedural burdens; maintaining the current threshold preserves stability but may leave some minority shareholders feeling they lack a timely remedy. For investors evaluating the merits, the likely outcome is to preserve the status quo absent broader shifts in shareholder sentiment or a demonstrable pattern of board unresponsiveness.

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When is the First Solar Inc 2026 annual meeting?

First Solar Inc (FSLR) holds its 2026 annual shareholder meeting on Wednesday, May 13, 2026.

What is the record date for the First Solar Inc 2026 meeting?

The record date for the First Solar Inc 2026 meeting is Thursday, March 19, 2026. Shareholders of record on or before that date are eligible to vote.

Who are the director nominees for First Solar Inc's 2026 meeting?

The board is presenting 10 director nominees at the First Solar Inc 2026 meeting, listed with their independence status and background.

What proposals will shareholders vote on at the First Solar Inc 2026 meeting?

Shareholders will vote on 4 proposals at the First Solar Inc 2026 meeting, each tagged with who proposed it and the board's recommendation.