Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Schultz Kenneth M
   2. Issuer Name and Ticker or Trading Symbol
FIRST SOLAR, INC. [FSLR] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Executive Vice President
(Last)
(First)
(Middle)
350 WEST WASHINGTON STREET, 6TH FLOOR		 3. Date of Earliest Transaction (Month/Day/Year)
07/30/2008
(Street)

TEMPE, AZ 85281-1244		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock (1) 07/30/2008   M   3,500 A $ 0 3,500 D  
Common Stock 07/30/2008   F   1,435 (2) D $ 285 2,065 D  

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Restricted Stock Units (3) 07/30/2008   M     3,500   (4)   (5) Common Stock 3,500 $ 0 23,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Schultz Kenneth M
350 WEST WASHINGTON STREET
6TH FLOOR
TEMPE, AZ 85281-1244		       Executive Vice President  

Signatures

 /s/ I. Paul Kacir, Attorney-in-Fact For: Kenneth M. Schultz   08/01/2008
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Represents vested shares of common stock issued pursuant to the conversion of 20% of the restricted stock units granted on July 30, 2007.
(2) Represents vested shares of common stock withheld by Issuer to satifsy certain tax withholding obligations associated with the conversion of the restriced stock units, which is consistent with the Issuer's insider trading policy.
(3) Each restricted stock unit represents the right to receive, following vesting, one share of First Solar, Inc. common stock.
(4) The restricted stock units were granted as part of First Solar, Inc.'s annual equity grant to executive officers. These units are scheduled to vest annually from the grant date at a rate of 20% over each of the first three years, with the remaining 40% scheduled to vest in the final fourth year. For informational purposes only, the closing price of First Solar, Inc. common stock on July 30, 2007 was $120.28.
(5) Upon termination of employment before an applicable vesting date, all the units which have not yet vested shall be forfeited, except as otherwise determined by the Compensation Committee of the Company.

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