First Solar Management

Management criteria checks 3/4

First Solar's CEO is Mark Widmar, appointed in Jul 2016, has a tenure of 8.5 years. total yearly compensation is $7.73M, comprised of 12.5% salary and 87.5% bonuses, including company stock and options. directly owns 0.076% of the company’s shares, worth MX$325.81M. The average tenure of the management team and the board of directors is 5.2 years and 8 years respectively.

Key information

Mark Widmar

Chief executive officer

US$7.7m

Total compensation

CEO salary percentage	12.5%
CEO tenure	8.5yrs
CEO ownership	0.08%
Management average tenure	5.2yrs
Board average tenure	8yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Mark Widmar's remuneration changed compared to First Solar's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	US$1b
Jun 30 2024	n/a	n/a	US$1b
Mar 31 2024	n/a	n/a	US$1b
Dec 31 2023	US$8m	US$965k	US$831m
Sep 30 2023	n/a	n/a	US$474m
Jun 30 2023	n/a	n/a	US$156m
Mar 31 2023	n/a	n/a	US$42m
Dec 31 2022	US$7m	US$922k	-US$44m
Sep 30 2022	n/a	n/a	US$95m
Jun 30 2022	n/a	n/a	US$189m
Mar 31 2022	n/a	n/a	US$216m
Dec 31 2021	US$7m	US$900k	US$469m
Sep 30 2021	n/a	n/a	US$453m
Jun 30 2021	n/a	n/a	US$563m
Mar 31 2021	n/a	n/a	US$517m
Dec 31 2020	US$8m	US$900k	US$398m
Sep 30 2020	n/a	n/a	US$223m
Jun 30 2020	n/a	n/a	US$99m
Mar 31 2020	n/a	n/a	US$43m
Dec 31 2019	US$9m	US$900k	-US$115m
Sep 30 2019	n/a	n/a	-US$3m
Jun 30 2019	n/a	n/a	US$24m
Mar 31 2019	n/a	n/a	-US$6m
Dec 31 2018	US$7m	US$875k	US$144m

Compensation vs Market: Mark's total compensation ($USD7.73M) is above average for companies of similar size in the MX market ($USD5.52M).

Compensation vs Earnings: Mark's compensation has been consistent with company performance over the past year.

CEO

Mark Widmar (58 yo)

8.5yrs

Tenure

US$7,725,497

Compensation

Mr. Mark R. Widmar has been the Chief Executive Officer and Director of First Solar, Inc. since July 1, 2016. Mr. Widmar served as the Chief Financial Officer of 8Point3 General Partner, LLC, a General Par...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Mark Widmar	CEO & Director	8.5yrs	US$7.73m	0.076% MX$ 325.8m
Alexander Bradley	Chief Financial Officer	8.5yrs	US$3.12m	0.029% MX$ 122.0m
Markus Gloeckler	Chief Technology Officer	4.2yrs	US$2.89m	0.0083% MX$ 35.6m
Jason Dymbort	Executive VP	4.8yrs	US$2.93m	0.012% MX$ 53.1m
Kuntal Verma	Chief Manufacturing Officer	4.5yrs	US$2.92m	0.0033% MX$ 14.1m
Byron Jeffers	Chief Accounting Officer	5.2yrs	no data	0% MX$ 0
Richard Romero	VP of Investor Relations & Treasurer	no data	no data	no data
Caroline Stockdale	Chief People & Communications Officer	5.3yrs	US$1.67m	0.021% MX$ 87.7m
Michael Koralewski	Chief Supply Chain Officer	9.3yrs	no data	0.0073% MX$ 30.9m
Georges Antoun	Chief Commercial Officer	8.5yrs	US$2.47m	0.035% MX$ 148.9m
Patrick Buehler	Chief Product Officer	4.5yrs	no data	0.0032% MX$ 13.8m

5.2yrs

Average Tenure

50.5yo

Average Age

Experienced Management: FSLR *'s management team is seasoned and experienced (5.2 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Mark Widmar	CEO & Director	8.5yrs	US$7.73m	0.076% MX$ 325.8m
Michael T. Sweeney	Independent Director	21.5yrs	US$305.30k	0.016% MX$ 69.0m
Paul Stebbins	Independent Director	18.1yrs	US$295.30k	0.020% MX$ 85.4m
William Post	Lead Independent Director	14.6yrs	US$287.80k	0.024% MX$ 103.0m
Michael Ahearn	Chairman of the Board	25yrs	US$405.56k	0.10% MX$ 445.0m
Lisa Kro	Independent Director	2.7yrs	US$315.30k	0.0029% MX$ 12.4m
Anita George	Independent Director	3.5yrs	US$280.30k	0.0036% MX$ 15.4m
Venkata S. Renduchintala	Independent Director	less than a year	no data	0.00060% MX$ 2.6m
Molly Joseph	Independent Director	7.6yrs	US$302.80k	0.015% MX$ 62.0m
Norman Wright	Independent Director	2.7yrs	US$280.30k	0.0033% MX$ 14.0m

8.0yrs

Average Tenure

60.5yo

Average Age

Experienced Board: FSLR *'s board of directors are considered experienced (8 years average tenure).

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/01/21 09:58
End of Day Share Price	2025/01/21 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

First Solar, Inc. is covered by 87 analysts. 37 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Anders Rosenlund	ABG Sundal Collier
Adam Krop	Ardour Capital Investments, LLC
James Fontanelli	Arete Research Services LLP

First Solar Management

Management criteria checks 3/4

Key information

Recent management updates

Insider recently sold Mex$30m worth of stock

Insider recently sold Mex$23m worth of stock

First Solar, Inc., Annual General Meeting, May 08, 2024

Independent Director recently sold Mex$13m worth of stock

First Solar, Inc. Announces Board Resignations

Independent Director recently sold Mex$10m worth of stock

Recent updates

Third quarter 2024 earnings released: EPS: US$2.92 (vs US$2.51 in 3Q 2023)

First Solar, Inc. to Report Q3, 2024 Results on Oct 29, 2024

Second quarter 2024 earnings released: EPS: US$3.26 (vs US$1.60 in 2Q 2023)

First Solar, Inc. to Report Q2, 2024 Results on Jul 30, 2024

Investor sentiment improves as stock rises 15%

First Solar, Inc. Becomes the Solar Industry's First EPEAT Climate+ Champion, Setting Global Standard for Ultra-Low Carbon Solar

Insider recently sold Mex$30m worth of stock

Investor sentiment improves as stock rises 34%

Insider recently sold Mex$23m worth of stock

First quarter 2024 earnings released: EPS: US$2.21 (vs US$0.40 in 1Q 2023)

First Solar, Inc. Reaffirms Earnings Guidance for the Year 2024

New minor risk - Insider selling

First Solar, Inc. to Report Q1, 2024 Results on May 01, 2024

First Solar, Inc., Annual General Meeting, May 08, 2024

Independent Director recently sold Mex$13m worth of stock

First Solar, Inc. Provides Earnings Guidance for the Year 2024

Full year 2023 earnings released: EPS: US$7.78 (vs US$0.41 loss in FY 2022)

First Solar, Inc. Announces Board Resignations

First Solar, Inc. to Report Q4, 2023 Results on Feb 27, 2024

Investor sentiment improves as stock rises 16%

New major risk - Earnings quality

Third quarter 2023 earnings released: EPS: US$2.51 (vs US$0.46 loss in 3Q 2022)

First Solar, Inc. Updates Earnings Guidance for the Full Year 2023

First Solar, Inc. to Report Q3, 2023 Results on Oct 31, 2023

First Solar, Inc. Maintains Earnings Guidance for the Full Year 2023

Second quarter 2023 earnings released: EPS: US$1.60 (vs US$0.52 in 2Q 2022)

First Solar, Inc. to Report Q2, 2023 Results on Jul 27, 2023

Now 20% undervalued after recent price drop

First Solar, Inc. Announces Limited Production Run of World’S First Bifacial Thin Film Photovoltaic Module

Independent Director recently sold Mex$10m worth of stock

First Solar, Inc. (NasdaqGS:FSLR) acquired Evolar AB from Magnora ASA (OB:MGN) for $38 million.

Now 21% undervalued after recent price drop

First quarter 2023 earnings released: EPS: US$0.40 (vs US$0.41 loss in 1Q 2022)

Independent Director recently sold Mex$28m worth of stock

Full year 2022 earnings released: US$0.41 loss per share (vs US$4.41 profit in FY 2021)

First Solar, Inc. to Report Q4, 2022 Results on Feb 28, 2023

Now 21% undervalued after recent price drop

Third quarter 2022 earnings released: US$0.46 loss per share (vs US$0.42 profit in 3Q 2021)

First Solar, Inc. Updates Earnings Guidance for the Year 2022

First Solar, Inc. to Report Q3, 2022 Results on Oct 27, 2022

The funds managed by Real Assets group of PAG completed the acquisition of A solar operations and maintenance (O&M) platform with approximately 665 MWDC ,in Japan from First Solar, Inc. (NasdaqGS:FSLR).

Insider recently sold Mex$1.5b worth of stock

Independent Director recently sold Mex$13m worth of stock

Second quarter 2022 earnings released: EPS: US$0.52 (vs US$0.78 in 2Q 2021)

First Solar, Inc. Updates Earnings Guidance for the Year 2022

Investor sentiment improved over the past week

First Solar, Inc. to Report Q2, 2022 Results on Jul 28, 2022

The funds managed by Real Assets group of PAG completed the acquisition of 293 Megawatts Utility Scale Solar Development Platform in Japan from First Solar, Inc. (NasdaqGS:FSLR).

First Solar, Inc. Announces Director Appointments

Insufficient new directors

PAG entered into a definitive agreement to acquire O&M platform from First Solar, Inc. (NasdaqGS:FSLR).

First quarter 2022 earnings released: US$0.41 loss per share (vs US$1.98 profit in 1Q 2021)

First Solar, Inc., Annual General Meeting, May 26, 2022

First Solar, Inc. to Report Q1, 2022 Results on Apr 28, 2022

First Solar, Inc. Announces Kathryn A. Hollister Not to Stand for Re-Election as A Member of the Board of Directors

First Solar in Talks to Sell Japan Project Development, O&M Biz

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

First Solar, Inc. Provides Earnings Guidance for the Year 2022

Investor sentiment improved over the past week

Sharon L. Allen Intends Not to Stand for Re-Election as Member of the Company’s Board of Directors of First Solar, Inc

First Solar, Inc. to Report Q4, 2021 Results on Mar 01, 2022

Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against First Solar, Inc

First Solar, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit

Bernstein Litowitz Berger & Grossmann LLP Announces the Filing of A Securities Class Action Lawsuit Against First Solar, Inc

Third quarter 2021 earnings released: EPS US$0.42 (vs US$1.46 in 3Q 2020)

Investor sentiment improved over the past week

Second quarter 2021 earnings released: EPS US$0.78 (vs US$0.35 in 2Q 2020)

Investor sentiment improved over the past week

First quarter 2021 earnings released: EPS US$1.98 (vs US$0.86 in 1Q 2020)