New Fortress CEO adds equity in debt restructuring
NFE’s CEO Wesley R. Edens indirectly acquired equity and preferred interests tied to a major restructuring of the company’s funded debt.
Rhea-AI Filing Summary
New Fortress Energy Inc. (NFE) reported that Chief Executive Officer and director Wesley R. Edens, through Edens Family Partners LLC, indirectly acquired Class A common stock and Series A Mandatorily Convertible Preferred Stock on September 11, 2026. The awards and purchases occurred in connection with a corporate and debt restructuring, and the filing reports additional indirect holdings through a related trust.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 34,984 shares
Net Buy
5 txns
Insider
EDENS WESLEY R
Role
Chief Executive Officer
Bought
34,984 shs
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Series A Mandatorily Convertible Preferred Stock F4, F1, F2 | 48,288 | -- | -- |
| Purchase | Series A Mandatorily Convertible Preferred Stock F4, F3, F2 | 6,671 | -- | -- |
| Grant/Award | Class A Common Stock F1, F2 | 208,588 | -- | -- |
| Purchase | Class A Common Stock F3, F2 | 28,313 | -- | -- |
| holding | Class A Common Stock F2 | -- | -- | -- |
Holdings After Transaction:
Series A Mandatorily Convertible Preferred Stock — 54,959 contracts (Indirect, Edens Family Partners LLC);
Class A Common Stock — 957,337 shares (Indirect, Edens Family Partners LLC);
Class A Common Stock — 352,255 shares (Indirect, WRE 2012 GST Exempt Trust LLC)
Footnotes (4)
- F1. On September 11, 2026, in connection with the Issuer's corporate and organizational restructuring and a financial restructuring of the Issuer's principal funded debt obligations (the "Restructuring Transaction"), the reporting person acquired from the Issuer (i) 208,588 shares of Class A common stock ("Class A Shares") and (ii) 48,288 shares of the Issuer's Series A Mandatorily Convertible Preferred Stock ("Preferred Shares") as a pro rata portion of the consideration received by the lenders under the loans issued pursuant to the Issuer's Term Loan A Credit Agreement, by virtue of the reporting person's ownership of $110 million aggregate principal amount of the loans thereof.
- F2. The reporting person disclaims beneficial ownership except to the extent of his pecuniary interest therein.
- F3. Upon consummation of the Restructuring Transaction, the reporting person purchased from certain of the Issuer's existing creditors (i) 28,313 Class A Shares and (ii) 6,671 Preferred Shares for an aggregate consideration of $1,667,985.02.
- F4. Unless redeemed earlier by the Issuer, Preferred Shares will be automatically converted on the third anniversary of the closing of the Restructuring Transaction into 46.441271 Class A Shares (subject to adjustment) per Preferred Share.
Key Figures
Class A shares acquired via restructuring: 208,588 shares
Preferred shares acquired via restructuring: 48,288 shares
Loans held by Edens under Term Loan A: $110,000,000 aggregate principal amount
+5 more
8 metrics
Class A shares acquired via restructuring
208,588 shares
Indirectly acquired September 11, 2026 as consideration tied to lender status
Preferred shares acquired via restructuring
48,288 shares
Series A Mandatorily Convertible Preferred Stock received September 11, 2026
Loans held by Edens under Term Loan A
$110,000,000 aggregate principal amount
Ownership of loans determining pro rata restructuring consideration
Additional Class A shares purchased
28,313 shares
Purchased from existing creditors upon consummation of the restructuring
Additional preferred shares purchased
6,671 shares
Series A Mandatorily Convertible Preferred Stock purchased in same transaction
Aggregate consideration for post-restructuring purchases
$1,667,985.02
Paid for 28,313 Class A and 6,671 preferred shares
Preferred share conversion ratio
46.441271 Class A shares per preferred share
Automatic conversion on third anniversary of restructuring closing, unless redeemed earlier
Trust-held Class A shares
352,255 shares
Indirectly held through WRE 2012 GST Exempt Trust LLC after reported transactions
Key Terms
Series A Mandatorily Convertible Preferred Stock, Restructuring Transaction, aggregate principal amount, automatically converted
4 terms
Series A Mandatorily Convertible Preferred Stock financial
"48,288 shares of the Issuer's Series A Mandatorily Convertible Preferred Stock"
Restructuring Transaction financial
"in connection with the Issuer's corporate and organizational restructuring and a financial restructuring"
aggregate principal amount financial
"by virtue of the reporting person's ownership of $110 million aggregate principal amount of the loans"
The aggregate principal amount is the total amount of money borrowed through a bond or loan that the borrower promises to repay. It’s like the original price tag on a loan or bond, showing how much money is involved in the deal. This number matters because it indicates the size of the debt and helps investors understand the scale of the borrowing.
automatically converted financial
"Preferred Shares will be automatically converted on the third anniversary of the closing"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What equity did NFE CEO Wesley R. Edens receive in the restructuring?
Wesley R. Edens, through Edens Family Partners LLC, acquired 208,588 Class A shares and 48,288 Series A Mandatorily Convertible Preferred Shares as part of consideration to lenders in a corporate and debt restructuring tied to $110 million principal amount of term loans he owned.
What additional NFE securities did Wesley R. Edens purchase on September 11, 2026?
Upon consummation of the restructuring, Wesley R. Edens purchased from certain existing creditors 28,313 Class A shares and 6,671 Series A Mandatorily Convertible Preferred Shares for an aggregate consideration of $1,667,985.02.
How will NFE’s Series A Mandatorily Convertible Preferred Stock convert into common stock?
Unless redeemed earlier by New Fortress Energy Inc., each Series A Mandatorily Convertible Preferred Share will be automatically converted on the third anniversary of the restructuring closing into 46.441271 Class A shares of common stock, subject to adjustment.
What indirect NFE holdings are reported for Wesley R. Edens via trusts or entities?
Holdings are reported indirectly through Edens Family Partners LLC and a WRE 2012 GST Exempt Trust LLC, which is shown holding 352,255 Class A shares. Edens disclaims beneficial ownership except to the extent of his pecuniary interest in these entities.
Were Wesley R. Edens’s NFE transactions made under a Rule 10b5-1 plan?
The filing indicates the Rule 10b5-1 checkbox is not marked, so no Rule 10b5-1 trading plan is reported for these September 11, 2026 transactions related to New Fortress Energy Inc.
AI-generated analysis. How Rhea-AI works. Not financial advice.