| SECURITIES AND EXCHANGE
COMMISSION Washington, D.C. 20549 |
SCHEDULE 13G |
UNDER THE SECURITIES EXCHANGE ACT OF 1934
|
(Amendment
No. 3
)*
|
FTC Solar, Inc. (Name of Issuer) |
Common Stock, $0.0001 par value (Title of Class of Securities) |
30320C103 (CUSIP Number) |
12/31/2024 (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) |
 Rule
13d-1(d) |
SCHEDULE 13G |
| CUSIP No. | 30320C103 |
| 1 | Names of Reporting Persons ARC Family Trust | ||||||||
| 2 | Check the appropriate box if a member of a Group (see
instructions)
(a)
(b) | ||||||||
| 3 | Sec Use Only | ||||||||
| 4 | Citizenship or Place of Organization DELAWARE | ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 9 | Aggregate Amount Beneficially Owned by Each Reporting
Person 1,174,086.00 | ||||||||
| 10 | Check box if the aggregate amount in row (9) excludes
certain shares (See Instructions) | ||||||||
| 11 | Percent of class represented by amount in row (9) 9.1 % | ||||||||
| 12 | Type of Reporting Person (See Instructions) OO |
SCHEDULE 13G |
| CUSIP No. | 30320C103 |
| 1 | Names of Reporting Persons Shaker Sadasivam | ||||||||
| 2 | Check the appropriate box if a member of a Group (see
instructions)
(a)
(b) | ||||||||
| 3 | Sec Use Only | ||||||||
| 4 | Citizenship or Place of Organization UNITED STATES | ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 9 | Aggregate Amount Beneficially Owned by Each Reporting
Person 1,508,788.00 | ||||||||
| 10 | Check box if the aggregate amount in row (9) excludes
certain shares (See Instructions) | ||||||||
| 11 | Percent of class represented by amount in row (9) 11.7 % | ||||||||
| 12 | Type of Reporting Person (See Instructions) IN |
SCHEDULE 13G |
| Item 1. | ||
| (a) | Name of issuer: FTC Solar, Inc. | |
| (b) | Address of issuer's principal executive
offices: 9020 N Capital of Texas Hwy, Suite I-260 Austin, Texas 78759 | |
| Item 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. The Agreement of Joint Filing of the reporting persons was filed as Exhibit 1 to the Schedule 13G filed on February 13, 2024. | |
| (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. | |
| (c) | Citizenship: ARC Family Trust is a Delaware entity and Shaker Sadasivam is a citizen of the USA. | |
| (d) | Title of class of securities: Common Stock, $0.0001 par value | |
| (e) | CUSIP No.: 30320C103 | |
| Item 3. | If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: | |
| (a) | Broker
or dealer registered under section 15 of the Act (15 U.S.C. 78o); | |
| (b) | Bank
as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); | |
| (c) | Insurance
company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c); | |
| (d) | Investment
company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); | |
| (e) | An
investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E); | |
| (f) | An
employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F); | |
| (g) | A
parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G); | |
| (h) | A
savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C.
1813); | |
| (i) | A
church plan that is excluded from the definition of an investment company under section 3(c)(14)
of the Investment Company Act of 1940 (15 U.S.C. 80a-3); | |
| (j) | A
non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S.
institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution: | |
| (k) | Group,
in accordance with Rule 240.13d-1(b)(1)(ii)(K). | |
| Item 4. | Ownership | |
| (a) | Amount beneficially owned: ARC Family Trust: 1,174,086; Shaker Sadasivam: 1,508,788 | |
| (b) | Percent of class: ARC Family Trust: 9.1%; Shaker Sadasivam: 11.7 % | |
| (c) | Number of shares as to which the person has: | |
| (i) Sole power to vote or to direct the vote: ARC Family Trust: 0; Shaker Sadasivam: 334,702 | ||
| (ii) Shared power to vote or to direct the
vote: ARC Family Trust: 1,174,086; Shaker Sadasivam: 1,174,086 | ||
| (iii) Sole power to dispose or to direct the
disposition of: ARC Family Trust: 0; Shaker Sadasivam: 334,702 | ||
| (iv) Shared power to dispose or to direct the
disposition of: ARC Family Trust: 1,174,086; Shaker Sadasivam: 1,508,788 | ||
| Item 5. | Ownership of 5 Percent or Less of a Class. | |
| Item 6. | Ownership of more than 5 Percent on Behalf of Another Person. | |
If any other person is known to have the right to receive or the power to direct
the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to
that effect should be included in response to this item and, if such interest relates to more
than 5 percent of the class, such person should be identified. A listing of the shareholders of
an investment company registered under the Investment Company Act of 1940 or the beneficiaries
of employee benefit plan, pension fund or endowment fund is not required.
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) 32,992 shares of common stock held by Mr. Sadasivam, (ii) 301,710 shares of common stock held by ChristSivam, LLC and (iii) 1,174,086 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 December 31, 2024. Effective as of November 29, 2024, the Issuer implemented a 1-for-10 reverse stock split of the Issuer's common stock. | ||
| Item 7. | Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person. | |
Not Applicable
| ||
| Item 8. | Identification and Classification of Members of the Group. | |
Not Applicable
| ||
| Item 9. | Notice of Dissolution of Group. | |
Not Applicable
| ||
| Item 10. | Certifications: |
Not Applicable
|
| SIGNATURE | |
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. |
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