Nextpower (NXT) CEO nets shares after RSU vesting and tax sell-to-cover
Filing Impact
Filing Sentiment
Form Type
4
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.
Positive
- None.
Negative
- None.
Insights
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
57,165 shares exercised/converted
Mixed
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 | -- |
| Exercise | Common Stock | 57,165 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 938,767 shares (Direct, null);
Restricted Stock Units — 0 shares (Direct, null);
Common Stock — 326,544 shares (Indirect, By Trust)
Footnotes (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. 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. 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.
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.