Nextpower CFO tax sell-to-cover of 9,870 shares
Nextpower Inc. Chief Financial Officer Charles D. Boynton reported an insider transaction involving 9,870 shares of common stock at $129.38 per share.
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Form Type
4
Rhea-AI Filing Summary
Nextpower Inc. Chief Financial Officer Charles D. Boynton reported an insider transaction involving 9,870 shares of common stock at $129.38 per share. According to the disclosure, these shares were required to be sold in a tax "sell-to-cover" transaction tied to the vesting and conversion of RSUs.
The sales were mandated by Nextpower’s sell-to-cover policy adopted on March 2, 2023 under Rule 10b5-1 and the company’s equity incentive plan, and were not discretionary trades by Boynton. Following the transaction, he holds 363,000 common shares directly.
Insider Trade Summary 10b5-1
Other: 9,870 shares
Other
1 txn
Insider
BOYNTON CHARLES D
Role
Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Common Stock | 9,870 | $129.38 | $1.28M |
Holdings After Transaction:
Common Stock — 363,000 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 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
Key Figures
Shares in transaction: 9,870 shares
Transaction price: $129.38 per share
Shares held after: 363,000 shares
+1 more
4 metrics
Shares in transaction
9,870 shares
Common Stock involved in Form 4 transaction
Transaction price
$129.38 per share
Price for the 9,870 common shares
Shares held after
363,000 shares
Direct common stock ownership after transaction
Restructuring shares
9,870 shares
Shares classified as restructuring/other in summary
Key Terms
sell-to-cover, RSUs, Rule 10b5-1, equity incentive plan
4 terms
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.
RSUs financial
"in order to satisfy the tax withholding obligations in connection with the vesting and conversion of RSUs"
RSUs, or restricted stock units, are a form of company shares given to employees as part of their compensation. They are typically awarded with certain restrictions, such as a waiting period before they can be fully owned or sold, similar to earning a gift that becomes fully yours over time. For investors, RSUs can impact a company's stock offerings and reflect how much the company relies on stock-based incentives to attract and retain talent.
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Nextpower (NXT) CFO Charles Boynton report?
Nextpower CFO Charles Boynton reported an insider transaction involving 9,870 shares of common stock at $129.38 per share. The filing describes this as an "other" transaction related to equity compensation, not a standard open-market buy or sell.
Was the Nextpower (NXT) CFO’s Form 4 trade discretionary?
No, the filing states the sales were mandated by Nextpower’s sell-to-cover policy. They were executed to cover tax withholding on RSU vesting and conversion and "do not represent discretionary trades" by CFO Charles Boynton, according to the footnote.
What is a sell-to-cover transaction in the Nextpower (NXT) CFO filing?
A sell-to-cover transaction sells enough shares to cover tax withholding on equity awards. In this case, 9,870 shares were sold automatically when Boynton’s RSUs vested and converted, satisfying tax obligations without him choosing to sell additional shares.
How does Rule 10b5-1 relate to the Nextpower (NXT) CFO’s transaction?
The footnote explains that Nextpower’s sell-to-cover policy was adopted pursuant to Rule 10b5-1. That rule allows pre-arranged trading plans, so these mandated sales occurred under a preset policy rather than discretionary market timing by CFO Charles Boynton.
AI-generated analysis. How Rhea-AI works. Not financial advice.
