Nextdecade SEC Filings

NextDecade Corp (NEXT) reported insider equity activity by its Chief Executive Officer and Director on 10/16/2025. The officer had 223,509 restricted stock units (RSUs) vest. To cover taxes, the issuer withheld 87,951 shares at a price of $6.11. In addition, 223,510 RSUs became earned upon achievement of a milestone-based performance criterion and are scheduled to vest in two equal annual installments beginning 10/16/2026.

Following the reported transactions, the officer’s direct beneficial ownership stood at 5,605,384 shares of common stock.

NextDecade Corp (NEXT) reported insider holdings via a Form 3. The reporting person serves as Interim CFO and is identified as an officer. The filing lists 468,694 shares of common stock held with direct (D) ownership.

The event date for this initial statement of beneficial ownership is 10/07/2025. This is a routine Section 16 disclosure establishing the officer’s baseline equity position.

NextDecade Corporation approved a final investment decision for the Rio Grande LNG Train 5 project and executed a comprehensive project financing package. RG5 entered a construction/term loan facility of $3.589 billion, a private placement of $500 million 6.56% senior secured notes due 2050, and related common terms, collateral, and intercreditor agreements. The company also arranged a FinCo facility of $1.463 billion (with a $1.192 billion letter of credit sublimit) and expanded Super FinCo borrowing by $600 million to be consolidated into a $1.2 billion tranche at 13.0%.

The EPC lump-sum for Train 5 is approximately $4.36 billion, with total project costs estimated at $6.66 billion; commercial operations are expected in the first half of 2031. Covenants include hedging requirements and a minimum debt service coverage ratio of 1.10:1.00. RG5 paid $117 million to NextDecade LNG, LLC for reimbursed development and services fees. Equity for Train 5 will be funded through JV agreements and the FinCo/Super FinCo structures.

Governance changes include appointing Luke Boylston as Chief Accounting Officer with a grant of 150,000 RSUs, and a transition agreement with outgoing CFO Brent Wahl, including 74,503 RSUs vesting per grant terms.

NextDecade Corp (NEXT) reported an insider equity grant. An officer identified as Controller received 150,000 shares on 10/14/2025, recorded at a price of $0. The filing notes these shares are represented by restricted stock units, each equal to one share of common stock.

The restricted stock units vest in three equal annual installments beginning October 13, 2026. Following this grant, the reporting person beneficially owned 220,821 shares, held directly.

NextDecade Corporation disclosed that its Chief Financial Officer, Brent Wahl, informed the company on October 6, 2025 that he will resign effective October 20, 2025. The company and Mr. Wahl intend to enter a consulting arrangement covering the period through December 31, 2025 to support a smooth transition. The company named Michael Mott, age 65, as interim principal financial officer while a search for a permanent CFO is conducted. Mr. Mott joined NextDecade in June 2021 and has served in several senior roles including Senior Vice President, Enterprise Transformation (appointed July 2024) and Senior Vice President, Carbon Solutions (since February 2022), and previously held CFO and senior finance roles at other energy companies.

Hanwha Aerospace Co., Ltd. reported insider purchases of NextDecade Corp (NEXT) common stock on 09/23/2025 and 09/24/2025. On 09/23/2025 Hanwha Aerospace bought 551,819 shares at a weighted average price of $6.9856, increasing reported direct beneficial ownership to 18,088,187 shares. On 09/24/2025 it purchased 449,510 shares at a weighted average price of $7.0193, raising reported direct ownership to 18,537,697 shares. The filing also shows 17,536,369 shares held indirectly by Hanwha Ocean LLC, which Hanwha Aerospace may be deemed to beneficially own. The reporting person disclaims beneficial ownership except to the extent of its pecuniary interest and notes potential group affiliation but disclaims membership.

Insider purchase disclosed on Form 4: Director Edward Andrew Scoggins Jr. reported buying 15,000 shares of NextDecade Corp (NEXT) on 09/18/2025 at a weighted-average price of $6.4557, representing purchases executed at prices ranging from $6.41 to $6.48. After these purchases the reporting person beneficially owns 200,070 shares directly.

The filing is a single-person Form 4 and is signed by the reporting person on 09/19/2025. The reporting person commits to provide, upon request, the breakdown of shares purchased at each price within the disclosed range.

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.

Bardin Hill Investment Partners LP and related Bardin Hill entities reported a purchase of 357,021 shares of NextDecade Corp (NEXT) on 09/16/2025 at a reported price of $6.9825 per share. After the transaction the reporting group beneficially owns 9,274,894 shares, held indirectly. The filing lists multiple Bardin Hill-related reporting persons and states that Exhibit 99.1 contains footnote details and Exhibit 99.2 contains joint filer information and signatures. The Form 4 was filed by a designated filer, Bardin Hill Investment Partners LP.