[Form 4] NWPX Infrastructure, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Aaron Wilkins, Chief Financial Officer of NWPX Infrastructure, Inc. (NWPX), reported sales of common stock under a 10b5-1 trading plan adopted on 05/23/2025. The Form 4 shows he sold 500 shares on 08/29/2025 at a weighted average price of $54.02 and 2,000 shares on 09/02/2025 at a weighted average price of $52.2448, reducing his direct common stock holdings from 29,262 to 24,762 shares. The filing also discloses existing equity awards: 5,587 restricted stock units that vest in January 2026–2028 and 16,761 performance shares that vest in March 2026–2028 and may pay out 0–200% based on total EBITDA margin. The form is signed by Mr. Wilkins on 09/03/2025.

Positive

• Sales executed under a 10b5-1 plan, indicating trades were pre-planned (adoption date 05/23/2025).
• Remaining equity compensation disclosed: 5,587 Restricted Stock Units vesting 2026–2028 and 16,761 Performance Shares tied to EBITDA margin.

Negative

• CFO sold 2,500 shares, reducing direct ownership from 26,762 to 24,762 shares as shown on the Form 4.
• Performance shares subject to payout range of 0–200%, indicating potential for no payout if targets are not met.

Insights

Securities Analyst

TL;DR: CFO executed routine sales under a pre-established 10b5-1 plan, modestly reducing direct holdings while retaining substantial equity awards.

The reported transactions are sales (codes S) totaling 2,500 shares executed in two date groups with weighted average prices of $54.02 and $52.2448. The filer states the sales were made pursuant to a 10b5-1(c) plan adopted 05/23/2025, which provides an affirmative defense for planned trades. Post-transaction direct ownership is 24,762 shares. Material outstanding equity compensation remains: 5,587 restricted stock units vesting in January 2026–2028 and 16,761 performance shares subject to achievement of total EBITDA margin and vesting March 2026–2028. From a disclosure and governance perspective, the filing is complete and includes a commitment to provide granular trade price details if requested.

Corporate Governance Expert

TL;DR: Insider sales align with a documented trading plan, reducing direct holdings but leaving time‑based and performance‑based awards intact.

The Form 4 clearly identifies the reporting person as the CFO and marks the transactions as executed under a 10b5-1 plan, which indicates pre-planned disposals rather than ad hoc trades. The filing discloses the remaining equity award schedule and the performance criteria (total EBITDA margin) governing potential payout levels for performance shares. The document is signed and dated, satisfying filing formalities.

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).

X

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^*

Wilkins Aaron

(Last) (First) (Middle)

201 NE PARK PLAZA DRIVE

SUITE 100

(Street)

VANCOUVER WA 98684

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NWPX Infrastructure, Inc. [ NWPX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

3. Date of Earliest Transaction (Month/Day/Year)
08/29/2025

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	08/29/2025		S(1)		500(1)	D	$54.02	26,762	D
Common Stock	09/02/2025		S(1)		2,000(1)	D	$52.2448(2)	24,762	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
Restricted Stock Units	(3)							(4)	(4)	Common Stock	5,587(3)		5,587	D
Performance Shares	(5)							(6)	(6)	Common Stock	16,761(5)		16,761	D

Explanation of Responses:

1. Adoption date of referenced 10b5-1(c) plan is: 05-23-2025

2. This transaction was executed in multiple trades at prices ranging from $52.00 to $52.76 per share. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or to the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

3. Each Restricted Stock Unit represents a contingent right to receive one share of NWPX common stock.

4. The Restricted Stock Units vest in installments in January of 2026, 2027 and 2028.

5. Performance Shares vest in an amount ranging from 0-200% to the extent such Performance Shares are earned. Performance Shares are earned based on NWPX's total EBITDA margin over the measurement period.

6. Performance Shares vest in installments in March of 2026, 2027 and 2028.

	/s/ Aaron Wilkins	09/03/2025
	** 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 trades did NWPX CFO Aaron Wilkins report on the Form 4?

The CFO reported sales of 500 shares on 08/29/2025 at $54.02 and 2,000 shares on 09/02/2025 at a weighted average $52.2448.

Were the insider trades by Aaron Wilkins pre-planned?

Yes. The Form 4 indicates the transactions were made pursuant to a 10b5-1(c) plan adopted 05/23/2025.

How many shares does Aaron Wilkins own after these transactions?

Following the reported sales, the filing shows 24,762 shares beneficially owned directly.

What equity awards does Aaron Wilkins hold according to the filing?

He holds 5,587 Restricted Stock Units vesting in January 2026–2028 and 16,761 Performance Shares vesting March 2026–2028, with payout tied to total EBITDA margin (0–200%).

Who signed and dated the Form 4?

The Form 4 is signed /s/ Aaron Wilkins and dated 09/03/2025.