Nextpower (NXT) CEO nets shares after RSU vesting and tax sell-to-cover

Rhea-AI Filing Summary

Nextpower Inc. CEO Daniel S. Shugar reported compensation-related equity activity. On June 18, 2026, previously granted restricted stock units vested and converted into 57,165 shares of common stock on a one-for-one basis. In connection with this vesting, 30,077 shares were sold in a mandatory “sell-to-cover” transaction to satisfy tax withholding obligations under the company’s Rule 10b5-1 sell-to-cover policy, meaning these were not discretionary trades by the CEO. After these transactions and a related restructuring entry, Shugar directly holds 938,767 common shares and indirectly holds 326,544 shares through the Kathleen and Daniel Shugar Family Trust.

Insights

Equity compensation analyst

Routine RSU vesting with mandatory tax sale; overall position remains large.

Nextpower’s CEO received 57,165 common shares via RSU vesting and conversion, a standard equity compensation event. A separate entry shows a 30,077-share transaction tied to a mandated “sell-to-cover” for taxes under a Rule 10b5-1 policy.

The filing indicates no open-market buying or selling decisions; the disposition was driven by tax obligations and plan rules rather than timing the stock. Following these moves, the CEO still holds 938,767 shares directly plus 326,544 shares indirectly via a family trust, suggesting his overall exposure to the stock remains substantial.

Insider Trade Summary 10b5-1

Net Buyer: 27,088 shares

Net Buy 4 txns

Insider SHUGAR DANIEL S

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Other	Common Stock	30,077	$128.38	$3.86M
Exercise	Restricted Stock Units	57,165	$0.00	$0.00
Exercise	Common Stock	57,165	$0.00	$0.00
holding	Common Stock	--	--	--

Holdings After Transaction: Restricted Stock Units — 0 shares (Direct); Common Stock — 938,767 shares (Direct); Common Stock — 326,544 shares (Indirect, By Trust)

Footnotes (3)

1. F1. Reflects the vesting and conversion of restricted stock units ("RSUs"), which were previously granted to the Reporting Person on June 21, 2023, into shares of the Issuer's common stock, on a one-for-one basis.
2. F2. 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 RSUs. 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.
3. F3. Reflects shares indirectly beneficially owned by the Reporting Person through the Kathleen and Daniel Shugar Family Trust, dated May 10, 2007.

Key Figures

RSUs vested and converted: 57,165 shares Sell-to-cover tax shares: 30,077 shares Direct holdings after transactions: 938,767 shares +3 more

6 metrics

RSUs vested and converted 57,165 shares Restricted Stock Units converting to common stock on June 18, 2026

Sell-to-cover tax shares 30,077 shares Shares sold to satisfy tax withholding obligations

Direct holdings after transactions 938,767 shares Common stock directly owned by CEO after Form 4 events

Indirect trust holdings 326,544 shares Shares held via the Kathleen and Daniel Shugar Family Trust

Restructuring-related shares 30,077 shares Shares involved in other acquisition or disposition entry (code J)

Exercise transactions 1 transaction, 57,165 shares Derivative exercise/conversion count and shares from summary

Key Terms

Restricted Stock Units, sell-to-cover, Rule 10b5-1, equity incentive plan, +1 more

5 terms

Restricted Stock Units financial

"Reflects the vesting and conversion of restricted stock units ("RSUs"), which were previously granted"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

sell-to-cover financial

"Reflects the number of shares required to be sold pursuant to a "sell-to-cover" transaction"

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

"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

"under its equity incentive plan, and do not represent discretionary trades"

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.

indirectly beneficially owned financial

"Reflects shares indirectly beneficially owned by the Reporting Person through the Kathleen and Daniel Shugar Family Trust"

FAQ

What insider transactions did Nextpower (NXT) CEO Daniel Shugar report?

Daniel Shugar reported RSU vesting into 57,165 shares of Nextpower common stock and a related 30,077-share sell-to-cover tax transaction. These actions reflect equity compensation mechanics rather than discretionary open-market buying or selling decisions.

How many Nextpower (NXT) shares does the CEO hold after this Form 4?

After the reported transactions, Daniel Shugar directly holds 938,767 shares of Nextpower common stock. He also indirectly holds 326,544 shares through the Kathleen and Daniel Shugar Family Trust, providing a sizeable overall ownership position in the company.

What is the 57,165-share RSU transaction for Nextpower (NXT) CEO?

The 57,165-share transaction reflects restricted stock units granted on June 21, 2023 that vested and converted into common stock on a one-for-one basis. This is a typical equity compensation event, classified as an exercise or conversion of a derivative security.

Why were 30,077 Nextpower (NXT) shares sold in a sell-to-cover transaction?

The 30,077 shares were sold to cover tax withholding obligations triggered by the RSU vesting and conversion. The filing notes this sell-to-cover is mandated by Nextpower’s Rule 10b5-1 sell-to-cover policy and does not represent discretionary trading by the CEO.

Does the Nextpower (NXT) Form 4 show any open-market stock sales by the CEO?

The Form 4 describes a mandatory sell-to-cover transaction of 30,077 shares for tax withholding, not an open-market discretionary sale. It is executed under a pre-established Rule 10b5-1 policy tied to equity award vesting rather than active trading decisions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/23/2026 - 07:11 PM Accepted by SEC EDGAR 06/23/2026 - 07:11 PM Learn about SEC filing dates

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^*

SHUGAR DANIEL S

(Last) (First) (Middle)

C/O NEXTPOWER INC.

6200 PASEO PADRE PARKWAY

(Street)

FREMONT CALIFORNIA 94555

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Nextpower Inc. [ NXT ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/18/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	06/18/2026		M		57,165(1)	A	(1)	968,844	D
Common Stock	06/22/2026		J(2)		30,077(2)	D	$128.38	938,767	D
Common Stock								326,544(3)	I(3)	By Trust(3)

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	(1)	06/18/2026		M			57,165(1)	(1)	(1)	Common Stock	57,165	(1)	0	D

Explanation of Responses:

1. Reflects the vesting and conversion of restricted stock units ("RSUs"), which were previously granted to the Reporting Person on June 21, 2023, into shares of the Issuer's common stock, on a one-for-one basis.

2. 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 RSUs. 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.

3. Reflects shares indirectly beneficially owned by the Reporting Person through the Kathleen and Daniel Shugar Family Trust, dated May 10, 2007.

	/s/ Philip Reuther, as attorney-in-fact for Daniel S. Shugar	06/23/2026
	** 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.
* Form 4: SEC 1474 (03-26)