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Nextpower (NXT) CEO awarded RSUs and performance stock units

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Form Type
4

Rhea-AI Filing Summary

SHUGAR DANIEL S reported acquisition or exercise transactions in this Form 4 filing.

Nextpower Inc. reported that Chief Executive Officer Daniel Shugar received new equity awards in the form of restricted stock units and performance stock units. These are compensation grants, not open-market share purchases or sales.

The CEO was granted 192,308 restricted stock units that vest 30% on May 19, 2027, 30% on May 19, 2028, and 40% on May 19, 2029, contingent on continued service. He was also credited with 49,703 performance stock units tied to financial metrics for the period from April 1, 2025 to March 31, 2026, with an additional relative total shareholder return modifier that can adjust the final payout between 75% and 150% for the April 1, 2025 to March 31, 2028 period. Each earned unit represents the right to receive one share of common stock, and Shugar also indirectly holds 18,104 shares through a family trust.

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Insider SHUGAR DANIEL S
Role Chief Executive Officer
Type Security Shares Price Value
Grant/Award Common Stock 49,703 $0.00 --
Grant/Award Common Stock 192,308 $0.00 --
holding Common Stock -- -- --
Holdings After Transaction: Common Stock — 785,975 shares (Direct, null); Common Stock — 18,104 shares (Indirect, By Trust)
Footnotes (1)
  1. Reflects an award of restricted stock units ("RSUs") granted to the Reporting Person on May 19, 2026. Each RSU represents a contingent right to receive one share of the Issuer's common stock. The RSUs vest 30% on May 19, 2027, 30% on May 19, 2028, and 40% on May 19, 2029, subject to the Reporting Person's continued service to the Issuer through the relevant vesting date and acceleration in certain circumstances. Reflects performance stock units ("PSUs"), originally granted to the Reporting Person on May 23, 2025, which were initially earned upon certification by the Board of Directors of the Issuer on May 19, 2026 of the level of achievement of the financial performance metrics applicable to the PSUs for the performance period from April 1, 2025 to March 31, 2026. The PSUs remain subject to an rTSR modifier performance metric for the performance period from April 1, 2025 to March 31, 2028, pursuant to which the number of shares earned based on achievement of the financial performance metrics can be adjusted between 75% - 150%. Each earned PSU reflects the right to receive one share of the Issuer's common stock upon satisfaction of the applicable vesting conditions. The amount reported herein reflects 75% of the number of PSUs earned based on achievement of the financial performance metrics, which is the minimum amount of PSUs that will be earned and eligible to vest at the end of the three-year performance period, subject generally to the Reporting Person's continued employment with the Issuer through such date. Reflects shares indirectly beneficially owned by the Reporting Person through the Kathleen and Daniel Shugar Family Trust, dated May 10, 2007.
Restricted stock units granted 192,308 units RSUs granted to CEO on May 19, 2026
Performance stock units reported 49,703 units Minimum PSUs earned based on financial metrics
RSU vesting schedule 30% / 30% / 40% Vesting on May 19, 2027, 2028, and 2029
PSU adjustment range 75%–150% rTSR modifier over April 1, 2025–March 31, 2028
Indirectly owned shares 18,104 shares Held via Kathleen and Daniel Shugar Family Trust
restricted stock units ("RSUs") financial
"Reflects an award of restricted stock units ("RSUs") granted to the Reporting Person on May 19, 2026."
Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.
performance stock units ("PSUs") financial
"Reflects performance stock units ("PSUs"), originally granted to the Reporting Person on May 23, 2025, which were initially earned upon certification..."
rTSR modifier financial
"The PSUs remain subject to an rTSR modifier performance metric for the performance period from April 1, 2025 to March 31, 2028..."
beneficially owned financial
"Reflects shares indirectly beneficially owned by the Reporting Person through the Kathleen and Daniel Shugar Family Trust..."
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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).
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)
XDirector10% Owner
XOfficer (give title below)Other (specify below)
Chief Executive Officer
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
05/19/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock05/19/2026A49,703(1)A$0(1)785,975D
Common Stock05/19/2026A192,308(2)(3)(4)A$0(2)(3)(4)978,283D
Common Stock18,104(5)I(5)By Trust(5)
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. Reflects an award of restricted stock units ("RSUs") granted to the Reporting Person on May 19, 2026. Each RSU represents a contingent right to receive one share of the Issuer's common stock. The RSUs vest 30% on May 19, 2027, 30% on May 19, 2028, and 40% on May 19, 2029, subject to the Reporting Person's continued service to the Issuer through the relevant vesting date and acceleration in certain circumstances.
2. Reflects performance stock units ("PSUs"), originally granted to the Reporting Person on May 23, 2025, which were initially earned upon certification by the Board of Directors of the Issuer on May 19, 2026 of the level of achievement of the financial performance metrics applicable to the PSUs for the performance period from April 1, 2025 to March 31, 2026. The PSUs remain subject to an rTSR modifier performance metric for the performance period from April 1, 2025 to March 31, 2028, pursuant to which the number of shares earned based on achievement of the financial performance metrics can be adjusted between 75% - 150%.
3. Each earned PSU reflects the right to receive one share of the Issuer's common stock upon satisfaction of the applicable vesting conditions.
4. The amount reported herein reflects 75% of the number of PSUs earned based on achievement of the financial performance metrics, which is the minimum amount of PSUs that will be earned and eligible to vest at the end of the three-year performance period, subject generally to the Reporting Person's continued employment with the Issuer through such date.
5. 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 Shugar05/20/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

FAQ

What equity awards did Nextpower (NXT) CEO Daniel Shugar receive?

Daniel Shugar received grants of restricted stock units and performance stock units. The awards cover 192,308 RSUs and 49,703 PSUs, each representing the right to receive one share of Nextpower common stock if vesting and performance conditions are met.

What are the vesting terms for the 192,308 RSUs granted to Nextpower (NXT) CEO?

The 192,308 RSUs vest over three years: 30% on May 19, 2027, 30% on May 19, 2028, and 40% on May 19, 2029. Vesting requires Daniel Shugar’s continued service with Nextpower through each applicable vesting date.

How are the 49,703 performance stock units for Nextpower (NXT) CEO determined?

The 49,703 PSUs were earned based on financial performance metrics for April 1, 2025 to March 31, 2026. A relative total shareholder return modifier from April 1, 2025 to March 31, 2028 can adjust the final earned shares between 75% and 150% of that amount.

Does this Nextpower (NXT) Form 4 show any insider share sales or open-market purchases?

The Form 4 shows no open-market purchases or sales. It reports two acquisition transactions coded as grants or awards of stock-based compensation and one line reflecting indirectly owned shares held through a family trust associated with Daniel Shugar.

How many Nextpower (NXT) shares does the CEO hold indirectly through a trust?

Daniel Shugar indirectly beneficially owns 18,104 shares of Nextpower common stock. These shares are held through the Kathleen and Daniel Shugar Family Trust dated May 10, 2007, as disclosed in the Form 4 footnotes.

What is the rTSR modifier mentioned in the Nextpower (NXT) CEO PSU award?

The rTSR modifier is a relative total shareholder return performance measure applied from April 1, 2025 to March 31, 2028. It can adjust the number of PSUs ultimately earned between 75% and 150% of the amount based on financial performance metrics.