Hanwha Aerospace boosts NextDecade stake with November share buys

Rhea-AI Filing Summary

Hanwha Aerospace Co., Ltd. filed a Form 4 reporting open-market purchases of NextDecade Corp (NEXT) common stock. On 11/13/2025 it bought 460,334 shares at a weighted average price of $6.0826, bringing its directly held stake to 19,589,868 shares. On 11/14/2025 it bought another 244,330 shares at a weighted average price of $6.0886, increasing its direct holdings to 19,834,198 shares. The filing also notes indirect beneficial ownership of 17,536,369 shares held through Hanwha Ocean LLC and states that Hanwha Aerospace may be deemed part of a group that beneficially owns over 10% of NextDecade’s common stock, while disclaiming both group status and full beneficial ownership.

Insider Trade Summary

Net Buyer: 704,664 shares ($4,287,655)

Net Buy 3 txns

Insider Hanwha Aerospace Co., Ltd.

Role 10% Owner

Bought 704,664 shs ($4.29M)

Type	Security	Shares	Price	Value
Purchase	Common Stock	244,330	$6.0886	$1.49M
Purchase	Common Stock	460,334	$6.0826	$2.80M
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 19,834,198 shares (Direct); Common Stock — 17,536,369 shares (Indirect, See footnote)

Footnotes (1)

1. The price reported is a weighted average price. The shares reported in this transaction were purchased at prices ranging from $5.9700 to $6.2300, inclusive. The reporting person shall provide to the Securities and Exchange Commission, the Issuer or any security holder of the Issuer, upon request, full information regarding the number of shares purchased at each separate price. The price reported is a weighted average price. The shares reported in this transaction were purchased at prices ranging from $5.9100 to $6.2400, inclusive. The reporting person shall provide to the Securities and Exchange Commission, the Issuer or any security holder of the Issuer, upon request, full information regarding the number of shares purchased at each separate price. This filing shall not be deemed an admission that the reporting person is the beneficial owner of all securities covered by this filing for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise, or is subject to Section 16 of the Exchange Act. The reporting person disclaims beneficial ownership of the securities reported herein, except to the extent of its pecuniary interest therein. Reflects securities held directly by Hanwha Ocean LLC. Hanwha Aerospace Co., Ltd. may be deemed to beneficially own the securities held directly by Hanwha Ocean LLC.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Hanwha Aerospace Co., Ltd.

(Last) (First) (Middle)

1204, CHANGWON-DAERO, SEONGSAN-GU

(Street)

CHANGWON-SI, GYEONGSANGNAM-DO M5 51542

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NextDecade Corp [ NEXT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
11/13/2025

4. If Amendment, Date of 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

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	11/13/2025		P		460,334	A	$6.0826(1)	19,589,868	D(3)
Common Stock	11/14/2025		P		244,330	A	$6.0886(2)	19,834,198	D(3)
Common Stock								17,536,369	I(3)	See footnote(4)

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 Securities Underlying Derivative Security (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: 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

Explanation of Responses:

1. The price reported is a weighted average price. The shares reported in this transaction were purchased at prices ranging from $5.9700 to $6.2300, inclusive. The reporting person shall provide to the Securities and Exchange Commission, the Issuer or any security holder of the Issuer, upon request, full information regarding the number of shares purchased at each separate price.

2. The price reported is a weighted average price. The shares reported in this transaction were purchased at prices ranging from $5.9100 to $6.2400, inclusive. The reporting person shall provide to the Securities and Exchange Commission, the Issuer or any security holder of the Issuer, upon request, full information regarding the number of shares purchased at each separate price.

3. This filing shall not be deemed an admission that the reporting person is the beneficial owner of all securities covered by this filing for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise, or is subject to Section 16 of the Exchange Act. The reporting person disclaims beneficial ownership of the securities reported herein, except to the extent of its pecuniary interest therein.

4. Reflects securities held directly by Hanwha Ocean LLC. Hanwha Aerospace Co., Ltd. may be deemed to beneficially own the securities held directly by Hanwha Ocean LLC.

Remarks:

The reporting person may be deemed a member of a "group" (as such term is used in Section 13(d) of the Exchange Act and the rules promulgated thereunder) that beneficially owns more than 10% of the outstanding shares of Common Stock. The reporting person disclaims membership in any such group.

	Hanwha Aerospace Co., Ltd. By: /s/ Jaeil Son Title: Chief Executive Officer	11/17/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider activity did Hanwha Aerospace report for NEXT stock?

Hanwha Aerospace Co., Ltd. reported open-market purchases of NextDecade Corp (NEXT) common stock on two dates, increasing its directly held share position.

How many NextDecade (NEXT) shares did Hanwha Aerospace buy on 11/13/2025?

On 11/13/2025, Hanwha Aerospace bought 460,334 shares of NextDecade common stock at a weighted average price of $6.0826 per share.

How many NextDecade (NEXT) shares did Hanwha Aerospace buy on 11/14/2025?

On 11/14/2025, Hanwha Aerospace bought 244,330 shares of NextDecade common stock at a weighted average price of $6.0886 per share.

What is Hanwha Aerospaces direct ownership in NextDecade after these trades?

After the reported trades, Hanwha Aerospace directly held 19,834,198 shares of NextDecade common stock.

What indirect holdings in NextDecade (NEXT) are reported for Hanwha Aerospace?

The filing reports 17,536,369 shares of NextDecade common stock held indirectly through Hanwha Ocean LLC, which Hanwha Aerospace may be deemed to beneficially own.

Does Hanwha Aerospace indicate it is part of a group owning over 10% of NEXT?

The filing states Hanwha Aerospace may be deemed a member of a group that beneficially owns more than 10% of NextDecades common stock, but it disclaims membership in any such group and full beneficial ownership.

What price ranges are disclosed for the NEXT share purchases?

For the 11/13/2025 trade, shares were purchased between $5.9700 and $6.2300. For the 11/14/2025 trade, shares were purchased between $5.9100 and $6.2400.