26 August 2011

First Solar executives purchase stock

First Solar Inc of Tempe, AZ, USA, which makes thin-film photovoltaic (PV) modules based on cadmium telluride (CdTe) as well as providing engineering, procurement and construction (EPC) services, says that five of its senior executives have purchased a total of 5500 shares of company stock to add to their current holdings. The purchases were made during one of four annual open trading windows for First Solar’s directors and Section 16 officers and have been reported to the US Securities and Exchange Commission (SEC) in Form 4 filings where applicable.

Each of the executives purchased shares on the open market using personal funds: 

• Tymen DeJong (1000 shares) is senior VP of global operations, responsible for global manufacturing operations.

• Frank DeRosa (500 shares) was recently appointed to an expanded role as senior VP of business development for the Americas, where he will oversee project development, sales and business development for the Utility Systems Business Group in the Americas.

• TK Kallenbach (1000 shares) is president of the Components Business Group, responsible for sales of modules and balance-of-systems products, including First Solar’s European distribution network.

• Jim Lamon (2000 shares) is senior VP of engineering, procurement and construction (EPC), which builds and operates utility-scale solar projects, including both First Solar’s 2.6GW project pipeline and customer projects.

• Mark Widmar (1000 shares) joined First Solar in April as chief financial officer.

“First Solar’s leadership team has confidence in the company’s long-term growth prospects and our ability to develop new markets and execute our cost, technology and project road maps,” says CEO Rob Gillette.

Tags: First Solar Thin-film photovoltaic CdTe

Visit: www.firstsolar.com