NextTrip director reports 25,000-share derivative position
NextTrip, Inc. director Andrew Jay Kaplan reported indirect restructuring-type transactions involving securities held by KC Global Media Asia LLC.
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Form Type
4
Rhea-AI Filing Summary
NextTrip, Inc. director Andrew Jay Kaplan reported indirect restructuring-type transactions involving securities held by KC Global Media Asia LLC. The filing shows 16,667 shares of Series A Nonvoting Convertible Preferred Stock at $3.00 per share, each convertible into one share of common stock after shareholder approval, and 8,333 associated warrants exercisable at $3.00 per share. In total, these positions represent 25,000 shares of common stock on an as-converted basis. The transactions are coded as “other acquisition or disposition” and Kaplan disclaims beneficial ownership beyond his pecuniary interest.
Insider Trade Summary
Other: 25,000 shares
Other
2 txns
Insider
Kaplan Andrew Jay
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Series A Nonvoting Convertible Preferred Stock | 16,667 | $3.00 | $50K |
| Other | Warrant | 8,333 | $0.00 | $0.00 |
Holdings After Transaction:
Series A Nonvoting Convertible Preferred Stock — 16,667 contracts (Indirect, By KC Global Media Asia LLC);
Warrant — 8,333 contracts (Indirect, By KC Global Media Asia LLC)
Footnotes (4)
- F1. Each share of Series A Nonvoting Convertible Preferred Stock is convertible into one share of Common Stock. The shares are not convertible into Common Stock until shareholder approval is received after which it will automatically convert to common shares on the third business day after such approval is received. There is no expiration date for the Series A Nonvoting Convertible Preferred Stock. The price of each share of Series A Non is $3.00 and includes 1/2 warrant with an initial exercise date which is six months from the issue date and a term of three years.
- F2. The securities are held by KC Global Media Asia LLC ("KCGM"). Mr. Kaplan serves as Chairman of KCGM and is deemed to beneficially own the securities held by KCGM.
- F3. Mr. Kaplan disclaims beneficial ownership of all securities held by KCGM in excess of his pecuniary interest, if any, and this report shall not be deemed an admission that he is the beneficial owner of, or has pecuniary interest in, any such excess shares for the purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
- F4. The shares were purchased pursuant to a Securities Purchase Agreement between the Issuer and the Reporting Person.
Key Figures
Series A preferred shares: 16,667 shares at $3.00
Warrants reported: 8,333 warrants
Underlying common shares: 25,000 shares
+1 more
4 metrics
Series A preferred shares
16,667 shares at $3.00
Indirectly held; each convertible into one common share
Warrants reported
8,333 warrants
Each exercisable into one share of common stock
Underlying common shares
25,000 shares
Total common stock on an as-converted basis
Warrant exercise price
$3.00 per share
Initial exercise date six months from issue; three-year term
Key Terms
Series A Nonvoting Convertible Preferred Stock, warrant, Securities Purchase Agreement, beneficial ownership, +1 more
5 terms
Series A Nonvoting Convertible Preferred Stock financial
"Each share of Series A Nonvoting Convertible Preferred Stock is convertible into one share of Common Stock."
warrant financial
"includes 1/2 warrant with an initial exercise date which is six months from the issue date and a term of three years."
A warrant is a time-limited financial contract that gives its holder the right to buy a company's shares at a set price before a specified date, like a coupon that lets you purchase stock at a fixed discount for a limited time. It matters to investors because warrants offer leveraged exposure to a stock’s upside and can dilute existing shareholders if exercised, so they affect potential gains and the company’s outstanding share count.
Securities Purchase Agreement financial
"The shares were purchased pursuant to a Securities Purchase Agreement between the Issuer and the Reporting Person."
A securities purchase agreement is a written contract between a buyer and a seller outlining the terms for buying or selling financial assets such as stocks or bonds. It specifies details like the price, quantity, and conditions of the transaction, similar to a shopping list with agreed-upon terms. For investors, it provides clarity and legal protection when transferring ownership of these financial instruments.
beneficial ownership financial
"Mr. Kaplan disclaims beneficial ownership of all securities held by KCGM in excess of his pecuniary interest, if any,"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"in excess of his pecuniary interest, if any, and this report shall not be deemed an admission"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did NextTrip (NTRP) report for Andrew Jay Kaplan?
NextTrip reported two indirect, restructuring-type transactions involving KC Global Media Asia LLC. They cover 16,667 shares of Series A Nonvoting Convertible Preferred Stock and 8,333 warrants, together representing 25,000 common shares on an as-converted basis, with no open-market buying or selling reported.
What are the key terms of NextTrip (NTRP) Series A Nonvoting Convertible Preferred Stock?
Each Series A Nonvoting Convertible Preferred share converts into one common share after shareholder approval. Conversion will occur automatically on the third business day after approval. The stated price is $3.00 per share and each preferred share includes one-half warrant with a three-year term.
When can the warrants reported in the NextTrip (NTRP) Form 4 be exercised?
The warrants linked to the preferred shares have a delayed start date. Each warrant has an initial exercise date six months from its issue date, a term of three years, and an exercise price of $3.00 per share, all tied to underlying common stock.
Who actually holds the NextTrip (NTRP) securities reported for Andrew Jay Kaplan?
The securities are held by KC Global Media Asia LLC. Kaplan serves as Chairman of this entity and is deemed to beneficially own its holdings, but he disclaims beneficial ownership of any securities beyond his pecuniary interest, according to the filing’s footnotes.
What does the “other acquisition or disposition” code mean in this NextTrip (NTRP) Form 4?
The “J” code indicates an “other acquisition or disposition” rather than a straightforward market buy or sell. In this case, the summary characterizes the activity as restructuring-type transactions involving derivative securities, not open-market trading in NextTrip common stock.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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