NEXT Form 4: William Vrattos acquires 100k shares; holds 1.3M indirectly
Rhea-AI Filing Summary
NextDecade Corp (NEXT) director William C. Vrattos reported purchases and holdings in the company. On 09/17/2025 he acquired 100,000 common shares at a weighted-average price of $6.864 (purchases ranged from $6.82 to $6.89). After the reported transaction the filing shows Vrattos' indirect holdings include 1,029,812 shares held by CGW Holdings LLC and 306,551 shares held by CGW Holdings II LLC, plus 8,123 shares held in an IRA for his benefit. The form also discloses a disposition of 26,533 shares. Vrattos disclaims beneficial ownership of the LLC-held shares except to the extent of any pecuniary interest.
Positive
- Director purchase of 100,000 shares at a weighted-average price of $6.864, indicating insider buying activity
- Detailed pricing disclosure showing purchase prices ranged from $6.82 to $6.89 and willingness to provide per-trade details
Negative
- Majority holdings are indirect via CGW Holdings LLC and CGW Holdings II LLC, with Vrattos disclaiming beneficial ownership except for pecuniary interest
- Reported disposition of 26,533 shares reduces direct holdings modestly
Insights
TL;DR: Director purchased 100,000 shares at ~$6.86, increasing indirect holdings; transaction is a material insider buy but ownership mainly indirect.
The reported 100,000-share purchase at a weighted-average price of $6.864 represents a meaningful director-level acquisition and may signal confidence in the issuer at that price range. Most shares remain held indirectly through controlled LLCs and an IRA; the reporting person explicitly disclaims direct beneficial ownership of LLC-held shares except for any pecuniary interest. The filing also shows a small disposition of 26,533 shares, and the disclosure clarifies multiple purchase prices between $6.82 and $6.89.
TL;DR: Insider activity is transparent and properly disclosed, but majority ownership is indirect through controlled entities.
The Form 4 provides clear itemization of direct and indirect positions and includes required explanatory notes: control of CGW entities with spouse and an IRA holding. The disclaimer of beneficial ownership for LLC-held shares is standard; investors should note that reported voting or economic interests may differ from direct ownership. The filing follows Section 16 disclosure norms and provides range pricing details upon request.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Common Stock | 100,000 | $6.864 | $686K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Reflects the weighted-average price of shares purchased. These shares were purchased in multiple transactions at prices ranging from $6.82 to $6.89. The Reporting Person undertakes to provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth herein. The reporting person controls the limited liability company with his spouse and disclaims beneficial ownership of any such shares for Section 16 purposes except to the extent of his pecuniary interest therein, if any. Shares held by IRA custodian for benefit of the reporting person.
FAQ
What did NEXT director William Vrattos report buying on Form 4?
What price range were the purchases executed at?
