Nextpower COO reports mandated tax-related share sales
Nextpower Inc. Chief Operating Officer Nicholas Marco Miller reported mandated tax-related share sales under the company’s sell-to-cover policy.
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Form Type
4
Rhea-AI Filing Summary
Nextpower Inc. Chief Operating Officer Nicholas Marco Miller reported mandated tax-related share sales under the company’s sell-to-cover policy. On two days, he sold a total of 40,256 shares of Common Stock to satisfy tax withholding obligations tied to vesting and conversion of PSUs. These sales were executed pursuant to a Rule 10b5-1 sell-to-cover policy adopted on March 2, 2023 and are described as non-discretionary, not voluntary trading decisions. After these transactions, he holds 166,357 shares directly.
Insider Trade Summary 10b5-1
Other: 40,256 shares
Other
2 txns
Insider
Miller Nicholas Marco
Role
Chief Operating Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Common Stock | 20,512 | $115.82 | $2.38M |
| Other | Common Stock | 19,744 | $120.32 | $2.38M |
Holdings After Transaction:
Common Stock — 166,357 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 PSUs. 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
Sell-to-cover on Apr 27: 19,744 shares at $120.32
Sell-to-cover on Apr 28: 20,512 shares at $115.82
Total sell-to-cover shares: 40,256 shares
+3 more
6 metrics
Sell-to-cover on Apr 27
19,744 shares at $120.32
Non-derivative Common Stock, sell-to-cover transaction
Sell-to-cover on Apr 28
20,512 shares at $115.82
Non-derivative Common Stock, sell-to-cover transaction
Total sell-to-cover shares
40,256 shares
Shares sold to satisfy tax withholding obligations
Shares held after transactions
166,357 shares
Direct ownership after April 28, 2026 transaction
Transaction code
Code J
Other acquisition or disposition classification on Form 4
Policy adoption date
March 2, 2023
Date sell-to-cover policy adopted under Rule 10b5-1
Key Terms
sell-to-cover, Rule 10b5-1, equity incentive plan, tax withholding obligations, +1 more
5 terms
sell-to-cover financial
"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.
tax withholding obligations financial
"in order to satisfy the tax withholding obligations in connection with the vesting"
PSUs financial
"in connection with the vesting and conversion of PSUs"
PSUs are company shares promised to employees or executives that only become actual stock if the business hits specific performance targets over a set period. For investors, PSUs matter because they link pay to measurable outcomes — similar to a conditional bonus that converts into ownership — which can influence management decisions, dilution of shares, and signals about confidence in future results.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Nextpower (NXT) COO Nicholas Marco Miller report in this Form 4?
He reported mandated sales of 40,256 Nextpower common shares to cover tax withholding on vesting PSUs. These non-discretionary transactions were executed under the company’s Rule 10b5-1 sell-to-cover policy, rather than as voluntary open-market trading.
What is the purpose of Nextpower (NXT) sell-to-cover policy mentioned in the Form 4?
The policy requires automatic sales of enough shares to satisfy tax withholding when equity awards, such as PSUs, vest. This mechanism allows tax obligations to be met without the insider choosing when or how many shares to sell.
AI-generated analysis. How Rhea-AI works. Not financial advice.
