Nextpower officer reports mandated tax-related share sales
Nextpower Inc. Chief Legal & Compliance Officer Bruce Ledesma reported mandated share sales tied to tax withholding.
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Form Type
4
Rhea-AI Filing Summary
Nextpower Inc. Chief Legal & Compliance Officer Bruce Ledesma reported mandated share sales tied to tax withholding. On April 27, 26,326 shares of common stock were sold at $120.32 per share, leaving 219,554 shares held. On April 28, 27,349 shares were sold at $115.82 per share, leaving 192,205 shares held directly.
According to the footnote, these transactions reflect shares required to be sold under a "sell-to-cover" policy to satisfy tax obligations from the vesting and conversion of PSUs. The policy was adopted under Rule 10b5-1 and the equity incentive plan, so the trades were not discretionary.
Insider Trade Summary 10b5-1
Other: 53,675 shares
Other
2 txns
Insider
LEDESMA BRUCE
Role
Chief Legal & Compliance Ofc
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Common Stock | 27,349 | $115.82 | $3.17M |
| Other | Common Stock | 26,326 | $120.32 | $3.17M |
Holdings After Transaction:
Common Stock — 192,205 shares (Direct)
Footnotes (1)
- F1. Reflects the number of shares required to be sold pursuant to a "sell-to-cover" transaction in order to satisfy the tax withholding obligations in connection with the vesting and conversion of PSUs. These sales are mandated by the Issuer's "sell-to-cover" policy adopted by the Issuer on March 2, 2023 pursuant to the requirements of Rule 10b5-1 and its authority under its equity incentive plan, and do not represent discretionary trades by the Reporting Person.
Key Figures
Shares sold 2026-04-27: 26,326 shares at $120.32
Shares sold 2026-04-28: 27,349 shares at $115.82
Total restructuring shares: 53,675 shares
+2 more
5 metrics
Shares sold 2026-04-27
26,326 shares at $120.32
Mandated sell-to-cover transaction for tax withholding
Shares sold 2026-04-28
27,349 shares at $115.82
Mandated sell-to-cover transaction for tax withholding
Total restructuring shares
53,675 shares
Total shares involved in two J-code restructuring transactions
Shares held after latest transaction
192,205 shares
Direct common stock ownership after April 28, 2026 transaction
Shares held after earlier transaction
219,554 shares
Direct common stock ownership after April 27, 2026 transaction
Key Terms
sell-to-cover, Rule 10b5-1, equity incentive plan, PSUs, +1 more
5 terms
sell-to-cover financial
"Reflects the number of shares required to be sold pursuant to a "sell-to-cover" transaction in order to satisfy the tax withholding obligations"
Sell-to-cover is when part of newly issued or exercised company stock is immediately sold to pay required taxes and fees, so the recipient keeps the remaining shares. For investors this matters because it reduces the number of shares insiders or employees actually hold after a grant, can create small, routine share sales that aren’t signal of cashing out, and slightly increases share supply on the market—like selling a portion of a paycheck to cover the tax bill.
Rule 10b5-1 regulatory
"mandated by the Issuer's "sell-to-cover" policy adopted by the Issuer on March 2, 2023 pursuant to the requirements of Rule 10b5-1"
Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.
equity incentive plan financial
"pursuant to the requirements of Rule 10b5-1 and its authority under its equity incentive plan"
An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.
PSUs financial
"in connection with the vesting and conversion of PSUs"
PSUs are company shares promised to employees or executives that only become actual stock if the business hits specific performance targets over a set period. For investors, PSUs matter because they link pay to measurable outcomes — similar to a conditional bonus that converts into ownership — which can influence management decisions, dilution of shares, and signals about confidence in future results.
tax withholding obligations financial
"in order to satisfy the tax withholding obligations in connection with the vesting and conversion of PSUs"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Nextpower Inc. (NXT) disclose in Bruce Ledesma’s latest Form 4?
Nextpower Inc. reported that Chief Legal & Compliance Officer Bruce Ledesma completed two mandated share sales to cover tax withholding from PSU vesting. These transactions were executed under a pre-established sell-to-cover policy and are not considered discretionary trading decisions by the insider.
What is the purpose of the sell-to-cover policy described in Nextpower’s Form 4 for NXT?
The sell-to-cover policy requires selling enough shares when PSUs vest to pay related tax withholding obligations. For Bruce Ledesma, this meant automatic sales of specific share amounts, carried out under a Rule 10b5-1 framework and the company’s equity incentive plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
