Nextpower CAO exercises RSUs, sells for taxes

Nextpower Inc. Chief Accounting Officer Bennett David P reported routine equity compensation activity involving restricted stock units and related tax sales.

Rhea-AI Filing Summary

Nextpower Inc. Chief Accounting Officer Bennett David P reported routine equity compensation activity involving restricted stock units and related tax sales. On June 18, 2026, 25,407 RSUs granted on June 21, 2023 vested and converted into the same number of common shares on a one-for-one basis.

In connection with this vesting, 13,368 common shares were sold in a mandated sell-to-cover transaction at $128.38 per share to satisfy tax withholding obligations under the company’s Rule 10b5-1 sell-to-cover policy, and are not discretionary trades. After these transactions and a related non-discretionary adjustment, Bennett directly owns 161,201 shares of Nextpower common stock.

Insider Trade Summary 10b5-1

25,407 shares exercised/converted

Exercise 3 txns

Insider Bennett David P

Role Chief Accounting Officer

Type	Security	Shares	Price	Value
Other	Common Stock	13,368	$128.38	$1.72M
Exercise	Restricted Stock Units	25,407	$0.00	$0.00
Exercise	Common Stock	25,407	$0.00	$0.00

Holdings After Transaction: Restricted Stock Units — 0 contracts (Direct); Common Stock — 161,201 shares (Direct)

Footnotes (2)

1. F1. Reflects the vesting and conversion of restricted stock units ("RSUs"), which were previously granted to the Reporting Person on June 21, 2023, into shares of the Issuer's common stock, on a one-for-one basis.
2. F2. 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

RSUs vested and converted: 25,407 shares Sell-to-cover shares: 13,368 shares Sell-to-cover price: $128.38 per share +1 more

4 metrics

RSUs vested and converted 25,407 shares Restricted stock units converted to common stock on June 18, 2026

Sell-to-cover shares 13,368 shares Shares sold to satisfy tax withholding obligations

Sell-to-cover price $128.38 per share Price for mandated tax-related share sale

Post-transaction holdings 161,201 shares Nextpower common shares directly owned after reported transactions

Key Terms

Restricted Stock Units, sell-to-cover, Rule 10b5-1, equity incentive plan

4 terms

Restricted Stock Units financial

"Reflects the vesting and conversion of restricted stock units ("RSUs"), which were previously granted"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

sell-to-cover financial

"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.

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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did Nextpower (NXT) report for Bennett David P?

Bennett David P reported RSU vesting and related tax sales. On June 18, 2026, 25,407 restricted stock units vested into common shares, and a portion of those shares was sold automatically to cover tax withholding obligations under a predetermined company policy.

How many Nextpower (NXT) RSUs vested for Bennett David P in this Form 4?

25,407 restricted stock units vested for Bennett David P. These RSUs, granted on June 21, 2023, converted into 25,407 shares of Nextpower common stock on a one-for-one basis as part of his equity compensation package.

How many Nextpower (NXT) shares were sold to cover taxes in this filing?

13,368 common shares were sold to cover taxes. The shares were sold at $128.38 each in a mandated sell-to-cover transaction designed to satisfy tax withholding requirements linked to the RSU vesting, rather than as discretionary open-market sales.

Are Bennett David P’s Nextpower (NXT) share sales discretionary trades?

The reported share sales are not discretionary trades. They were executed under Nextpower’s Rule 10b5-1 sell-to-cover policy to meet tax withholding obligations from RSU vesting, meaning the timing and amount were pre-set by company policy.

How many Nextpower (NXT) shares does Bennett David P hold after these transactions?

Bennett David P directly holds 161,201 common shares after the transactions. This figure reflects his position following the RSU vesting, the automatic sell-to-cover tax transaction, and related non-discretionary adjustments recorded in the Form 4.

What do the M and J transaction codes mean in the Nextpower (NXT) Form 4?

The M code reflects a derivative exercise, and J marks another non-standard transaction. Here, M represents the conversion of RSUs into common stock, while J relates to a non-discretionary restructuring entry tied to the tax sell-to-cover process.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/23/2026 - 07:09 PM Learn about SEC filing dates

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^*

Bennett David P

(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 Accounting Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/18/2026

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	06/18/2026		M		25,407(1)	A	(1)	174,569	D
Common Stock	06/22/2026		J(2)		13,368(2)	D	$128.38	161,201	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
Restricted Stock Units	(1)	06/18/2026		M			25,407(1)	(1)	(1)	Common Stock	25,407	(1)	0	D

Explanation of Responses:

1. Reflects the vesting and conversion of restricted stock units ("RSUs"), which were previously granted to the Reporting Person on June 21, 2023, into shares of the Issuer's common stock, on a one-for-one basis.

2. 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 David Bennett	06/23/2026
	** 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)