Filing Details

 

UNITED STATES

Securities and Exchange Commission

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. ___)*

FTC Solar, Inc.

(Name of Issuer)

Common Stock, $0.0001 par value

(Title of Class of Securities)

30320C 103

(CUSIP Number)

December 31, 2021

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

[   ] Rule 13d–1(b)[ ] Rule 13d–1(c)[ X ] Rule 13d–1(d)

*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

 

*The numbers reported above reflect beneficial ownership of Issuer’s common stock as of February 4, 2022.

 

*The numbers reported above reflect beneficial ownership of Issuer’s common stock as of February 4, 2022.

 

 

 

 

SCHEDULE 13G

Item 1(a) Name of issuer: FTC Solar, Inc.

Item 1(b) Address of issuer's principal executive offices: 9020 N Capital of Texas Hwy, Suite I-260 Austin, Texas

2(a) Name of person filing: This Schedule 13G is being filed by ARC Family Trust and Shaker Sadasivam, as joint filers in accordance with the provisions of Rule 13d-1(k)(1) of the Act. Mr. Sadasivam is the trustee of ARC Family Trust and has sole voting and dispositive power with respect to the shares held by ARC Family Trust.

2(b) Address or principal business office or, if none, residence:The business address of ARC Family Trust is 20 Montchanin Road, Ste. 100, Greenville, DE 19807 and the business address of Shaker Sadasivam is 1950 Pine Run Drive, Chesterfield, MO 63108.

2(c) Citizenship: ARC Family Trust is a Delaware entity and Shaker Sadasivam is a citizen of the USA.

2(d) Title of class of securities:  Common Stock

2(e) CUSIP No.:30320C 103

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(g) [  ] A parent holding company or control person in accordance with §240.13d–1(b)(1)(ii)(G);

Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

ARC Family Trust ownership as of 2/4/2022

(a) Amount beneficially owned: 21,941,357

(b) Percent of class: 22.7%

 

 

SCHEDULE 13G

(c) Number of shares as to which the person has:

(i) Sole power to vote or to direct the vote: 0

(ii) Shared power to vote or to direct the vote: 21,941,357

(iii) Sole power to dispose or to direct the disposition of: 0

(iv) Shared power to dispose or to direct the disposition of: 21,941,357

Shaker Sadasivam ownership as of 2/4/2022

(a) Amount beneficially owned: 24,958,451

(b) Percent of class: 25.7%

(c) Number of shares as to which the person has:

(i) Sole power to vote or to direct the vote: 3,017,094

(ii) Shared power to vote or to direct the vote: 21,941,357

(iii) Sole power to dispose or to direct the disposition of: 3,017,094

(iv) Shared power to dispose or to direct the disposition of: 21,941,357

The ownership percentages reported are based on 96,751,102 shares of Issuer’s common stock outstanding as of February 4, 2022.

Not Applicable.

ARC Family Trust was established by Ahmad Chatila, a member of Issuer’s board of directors, for the benefit of certain members of his family. Shaker Sadasivam, also a member of the Issuer’s board of directors, is the trustee of ARC Family Trust and has sole voting and dispositive power with respect to the shares described herein. 

The beneficial ownership for Mr. Sadasivam consists of (i) 2,474,001 shares of common stock held by ChristSivam, LLC, (ii) 543,093 shares of common stock to be issued from the settlement of restricted stock units that have vested and are held by ChristSivam, LLC and (iii) 21,941,357 shares of common stock held by the ARC Family Trust for the benefit of certain members of Mr. Chatila’s family. Mr. Sadasivam is the Manager of ChristSivam, LLC and has sole voting and dispositive power with respect to the shares held by ChristSivam, LLC.

The numbers reported in Item 6 reflect beneficial ownership of Issuer’s common stock as of February 4, 2022.

Not Applicable.

Item 8. Identification and Classification of Members of the Group.

Not Applicable.

Item 9. Notice of Dissolution of Group.

Not Applicable.

 

 

Not Applicable.

 

Signatures

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

ARC Family Trust

 

 

 

 

 

 

 

 

 

 

Exhibit Index

 

 

 

 

 

Exhibit 1

AGREEMENT OF JOINT FILING

This joint filing agreement (this “Agreement”) is made and entered into as of this 14th day of February, 2022, by and among the undersigned.

The parties to this Agreement hereby acknowledge and agree that the foregoing statement on Schedule 13G in respect of the shares of common stock of FTC Solar, Inc., par value $0.0001 per share, is filed on behalf of each of the parties to this Agreement and that all subsequent amendments to this statement on Schedule 13G may be filed on behalf of each of the undersigned without the necessity of filing additional joint filing agreements. The parties to this Agreement acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained herein or therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate.

This agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which together shall constitute one and the same instrument.

 

 

ARC Family Trust