[144] NEXTNAV INC. SEC Filing

Rhea-AI Filing Summary

NextNav Inc. (NXNVW) filed a Form 144 notifying the proposed sale of 6,399 common shares, with an aggregate market value of $111,982.50, to be sold on or about 09/16/2025 on NASDAQ through Morgan Stanley Smith Barney LLC. The filer reports that these shares were acquired as restricted stock units from the issuer on 09/15/2025 and paid on that date. The filing also discloses two recent 10b5-1 sales by CHRISTIAN D GATES: 1,252 shares sold on 08/11/2025 for $17,202.48 and 6,399 shares sold on 06/17/2025 for $89,306.36. The notice includes the standard representation that the seller is not aware of any undisclosed material adverse information.

Positive

• Full regulatory disclosure: Proposed sale, acquisition date, and broker are clearly stated
• Use of recognized broker: Morgan Stanley Smith Barney LLC identified for execution
• Prior 10b5-1 sales disclosed: Two recent plan-based sales (06/17/2025 and 08/11/2025) are reported, showing consistency in reporting

Negative

• Insider share disposition: Proposed sale of 6,399 shares may be interpreted as insider liquidity
• Concentration of recent sales: Multiple sales by the same individual within the past three months (6,399 and 1,252 shares) could attract investor attention

Insights

Financial Analyst

TL;DR: Routine insider sale notice; quantity and timing disclosed, limited immediate impact on valuation.

The Form 144 reports a proposed sale of 6,399 common shares valued at $111,982.50, to occur on 09/16/2025 via Morgan Stanley. The shares were acquired as restricted stock units on 09/15/2025, indicating a recent vesting event rather than an open-market purchase. Two prior 10b5-1 sales by the same individual in June and August 2025 are documented, establishing recent liquidity activity by the insider. For investors, this filing provides transparency on insider share movement but contains no new operational or financial metrics. Impact on market value is likely neutral absent additional context.

Corporate Governance Expert

TL;DR: Disclosure follows Rule 144 and documents 10b5-1 sales; governance standards for insider trading appear observed.

The filing identifies Morgan Stanley Smith Barney LLC as the executing broker and affirms the seller's representation of no undisclosed material adverse information. The acquisition method is stated as restricted stock units vested 09/15/2025, and the filer documents prior 10b5-1 plan sales. These items show the insider is using established mechanisms for orderly disposition and providing required regulatory notice. The form contains the signature/attestation language required by Rule 144; there is no indication of governance irregularities within the filing itself.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	6399	111982.50	133130567	09/16/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	09/15/2025	Restricted Stock Units	Issuer			6399	09/15/2025	N/A

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
10b5-1 Sales for CHRISTIAN D GATES 11911 Freedom Dr. Suite 200 Reston VA 20190	Common	08/11/2025	1252	17202.48
10b5-1 Sales for CHRISTIAN D GATES 11911 Freedom Dr. Suite 200 Reston VA 20190	Common	06/17/2025	6399	89306.36

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does NextNav's (NXNVW) Form 144 disclose about the proposed sale?

The filing discloses a proposed sale of 6,399 common shares valued at $111,982.50 to be sold on or about 09/16/2025 on NASDAQ through Morgan Stanley Smith Barney LLC.

How and when were the shares to be sold on the Form 144 acquired?

The shares were acquired as restricted stock units and vested on 09/15/2025, with payment recorded on that date.

Were there any recent insider sales by the same person?

Yes. The filing lists two 10b5-1 sales by CHRISTIAN D GATES: 6,399 shares on 06/17/2025 for $89,306.36 and 1,252 shares on 08/11/2025 for $17,202.48.

Who is the broker handling the proposed sale listed in the Form 144?

The broker named is Morgan Stanley Smith Barney LLC, Executive Financial Services, 1 New York Plaza.

Does the Form 144 state whether the seller knows any undisclosed material information?

Yes. By signing the notice the person represents they do not know any material adverse information about the issuer that has not been publicly disclosed.