Director at NextDecade (NEXT) receives 30,245 restricted stock shares

Rhea-AI Filing Summary

NextDecade Corp director Wells Louis Spencer reported receiving 30,245 shares of common stock as a restricted stock award on January 30, 2026. The shares were granted at a price of $0 per share and are scheduled to vest on January 31, 2027.

After this equity grant, Spencer beneficially owns 276,410 shares of NextDecade common stock in direct ownership. The filing reflects an equity-based compensation award rather than an open-market purchase.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Wells Louis Spencer

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	30,245	$0.00	--

Holdings After Transaction: Common Stock — 276,410 shares (Direct)

Footnotes (1)

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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^*

Wells Louis Spencer

(Last) (First) (Middle)

1000 LOUISIANA STREET, SUITE 3300

(Street)

HOUSTON TX 77002

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
01/30/2026

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	01/30/2026		A		30,245(1)	A	$0	276,410	D

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. Represents shares of restricted stock that will vest on January 31, 2027.

Remarks:

	/s/ Vera de Gyarfas, Attorney-in-fact	02/03/2026
	** 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 transaction did NextDecade (NEXT) report for Wells Louis Spencer?

NextDecade director Wells Louis Spencer received 30,245 shares of restricted common stock on January 30, 2026. The shares were granted at $0 per share as an equity award and increase his directly held beneficial ownership to 276,410 shares.

When do Wells Louis Spencer’s restricted shares in NextDecade (NEXT) vest?

The 30,245 restricted shares granted to Wells Louis Spencer are scheduled to vest on January 31, 2027. Until vesting, they are subject to restrictions, consistent with typical director equity compensation structures disclosed in insider transaction reports.

How many NextDecade (NEXT) shares does Wells Louis Spencer own after this Form 4?

Following the reported restricted stock grant, Wells Louis Spencer beneficially owns 276,410 shares of NextDecade common stock. The Form 4 indicates this ownership is held directly, reflecting his updated equity position after the January 30, 2026 award.

Was the NextDecade (NEXT) insider transaction an open-market purchase or an award?

The transaction was an equity award, not an open-market purchase. Wells Louis Spencer received 30,245 shares of restricted common stock at $0 per share, indicating a compensation-related grant rather than buying shares on the open market.

What type of security did Wells Louis Spencer receive from NextDecade (NEXT)?

He received restricted shares of NextDecade common stock, totaling 30,245 shares. These are subject to vesting conditions and will fully vest on January 31, 2027, as disclosed in the footnote to the insider’s Form 4 filing.