Nextpower (NXT) legal chief’s 6,930-share tax sell-to-cover detailed

Rhea-AI Filing Summary

Nextpower Inc. Chief Legal & Compliance Officer Bruce Ledesma had 6,930 shares of common stock sold at $125.81 per share to cover taxes from the vesting and conversion of RSUs. These sales were carried out under the company’s mandated Rule 10b5-1 “sell-to-cover” policy and were not discretionary trades. Following the transactions, Ledesma directly holds 249,378 shares of Nextpower common stock.

Insider Trade Summary 10b5-1

1 transaction reported

Mixed 1 txn

Insider LEDESMA BRUCE

Role Chief Legal & Compliance Ofc

Type	Security	Shares	Price	Value
Other	Common Stock	6,930	$125.81	$872K

Holdings After Transaction: Common Stock — 249,378 shares (Direct, null)

Footnotes (1)

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Key Figures

Tax-related shares sold: 6,930 shares Sale price per share: $125.81 per share Shares held after transaction: 249,378 shares

3 metrics

Tax-related shares sold 6,930 shares Sell-to-cover transaction for RSU tax withholding

Sale price per share $125.81 per share Price for the 6,930-share tax-related sale

Shares held after transaction 249,378 shares Direct holdings of common stock after the Form 4 transaction

Key Terms

sell-to-cover, Rule 10b5-1, equity incentive plan, RSUs

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.

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

"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.

RSUs financial

"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.

Form 4 Insider Transactions: What Each Field Means →

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^*

LEDESMA BRUCE

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Legal & Compliance Ofc

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/22/2026

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	05/22/2026		J(1)		6,930(1)	D	$125.81	249,378	D

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

Explanation of Responses:

1. 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.

	/s/ Philip Reuther, as attorney-in-fact for Bruce Ledesma	05/26/2026
	** 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)

FAQ

What did Nextpower (NXT) insider Bruce Ledesma report in this Form 4?

Bruce Ledesma reported 6,930 Nextpower common shares sold to cover tax obligations from RSU vesting. The shares were sold automatically under the company’s Rule 10b5-1 “sell-to-cover” policy and were not discretionary trades by the reporting person.

How many Nextpower (NXT) shares were involved in Bruce Ledesma’s tax-related sale?

The Form 4 shows 6,930 shares of Nextpower common stock were sold. These shares were required to be sold to satisfy withholding taxes arising from the vesting and conversion of restricted stock units, under the issuer’s mandated sell-to-cover policy.

At what price were Bruce Ledesma’s Nextpower (NXT) shares sold?

The transaction was reported at a price of $125.81 per share for the 6,930 shares. This price reflects the value used in the tax-related sell-to-cover transaction connected to RSU vesting and was executed under a pre-established Rule 10b5-1 framework.

How many Nextpower (NXT) shares does Bruce Ledesma hold after this Form 4 transaction?

After the reported transaction, Bruce Ledesma directly holds 249,378 shares of Nextpower common stock. This figure reflects his post-transaction position following the 6,930-share tax-related sale required to satisfy RSU withholding obligations.

Was Bruce Ledesma’s Nextpower (NXT) share sale discretionary?

No, the sale was not discretionary. The footnote explains the 6,930 shares were sold automatically under the issuer’s mandated “sell-to-cover” policy, adopted March 2, 2023 pursuant to Rule 10b5-1 and its equity incentive plan authority.