Nextpower CAO automatic sell-to-cover of 2,599 shares
Nextpower Inc. Chief Accounting Officer Bennett David P reported an automatic share transaction related to tax withholding.
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Form Type
4
Rhea-AI Filing Summary
Nextpower Inc. Chief Accounting Officer Bennett David P reported an automatic share transaction related to tax withholding. On May 22, 2026, 2,599 shares of common stock were sold in a mandated "sell-to-cover" transaction at $125.81 per share to satisfy tax obligations from vested RSUs under the company’s equity incentive plan and Rule 10b5-1 policy, rather than as a discretionary trade. Following this event, Bennett directly holds 150,396 shares of Nextpower common stock.
Insider Trade Summary 10b5-1
Other: 2,599 shares
Other
1 txn
Insider
Bennett David P
Role
Chief Accounting Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Common Stock | 2,599 | $125.81 | $327K |
Holdings After Transaction:
Common Stock — 150,396 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: 2,599 shares
Transaction price per share: $125.81 per share
Shares held after transaction: 150,396 shares
+1 more
4 metrics
Shares in transaction
2,599 shares
Sell-to-cover on May 22, 2026
Transaction price per share
$125.81 per share
Sell-to-cover valuation
Shares held after transaction
150,396 shares
Direct ownership following event
Rule 10b5-1 policy adoption date
March 2, 2023
Adoption of sell-to-cover policy
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 in order to satisfy the tax withholding obligations"
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 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) disclose for Bennett David P?
Nextpower disclosed an automatic transaction where 2,599 common shares were sold to cover taxes on vested RSUs. The event is coded as an “other” transaction and is tied to the company’s equity incentive plan and Rule 10b5-1 policy.
Was the May 22, 2026 NXT insider transaction a discretionary trade?
No. The 2,599-share transaction was part of a mandated “sell-to-cover” process for tax withholding on RSU vesting. The footnote states these sales are required by Nextpower’s policy and do not represent discretionary trades by the reporting person.
What is Nextpower’s Rule 10b5-1 sell-to-cover policy mentioned in the filing?
The footnote explains that Nextpower has a “sell-to-cover” policy, adopted March 2, 2023 under Rule 10b5-1. It mandates selling enough shares at RSU vesting to cover tax withholding, meaning these transactions are pre-arranged and not discretionary trades by the insider.
AI-generated analysis. How Rhea-AI works. Not financial advice.
