Nextpower CEO mandated tax sell-to-cover sales
Nextpower Inc. director and CEO Daniel S. Shugar reported mandated tax-related share sales tied to performance stock units (PSUs).
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Form Type
4
Rhea-AI Filing Summary
Nextpower Inc. director and CEO Daniel S. Shugar reported mandated tax-related share sales tied to performance stock units (PSUs). On April 27 and 28, 2026, a total of 150,958 shares of common stock were sold in two "sell-to-cover" transactions at prices of $120.32 and $115.82 per share to satisfy tax withholding obligations upon PSU vesting, under the company’s Rule 10b5-1 sell-to-cover policy. After these transactions, Shugar directly held 736,272 shares of Nextpower common stock and indirectly held 18,104 shares through the Kathleen and Daniel Shugar Family Trust.
Insider Trade Summary 10b5-1
Other: 150,958 shares
Other
3 txns
Insider
SHUGAR DANIEL S
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Common Stock | 76,917 | $115.82 | $8.91M |
| Other | Common Stock | 74,041 | $120.32 | $8.91M |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 736,272 shares (Direct);
Common Stock — 18,104 shares (Indirect, By Trust)
Footnotes (2)
- 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 PSUs were earned upon the final certification by the Board of Directors of the Issuer on April 22, 2026 and the sell-to-cover transactions occurred over two trading days. 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.
- F2. Reflects shares indirectly beneficially owned by the Reporting Person through the Kathleen and Daniel Shugar Family Trust, dated May 10, 2007.
Key Figures
Sell-to-cover shares (total): 150,958 shares
Sell-to-cover price 1: $120.32 per share
Sell-to-cover price 2: $115.82 per share
+5 more
8 metrics
Sell-to-cover shares (total)
150,958 shares
Common stock sold in tax-related sell-to-cover transactions
Sell-to-cover price 1
$120.32 per share
Weighted-average price for 74,041 shares on April 27, 2026
Sell-to-cover price 2
$115.82 per share
Weighted-average price for 76,917 shares on April 28, 2026
Direct holdings after transactions
736,272 shares
Common stock directly held by CEO after reported transactions
Indirect holdings via trust
18,104 shares
Shares indirectly beneficially owned through family trust
Restructuring shares flagged
150,958 shares
Shares classified under restructuring-type code J in summary
Board certification date
April 22, 2026
Date PSUs were certified as earned by Board of Directors
Sell-to-cover policy adoption
March 2, 2023
Date issuer adopted Rule 10b5-1 sell-to-cover policy
Key Terms
sell-to-cover, PSUs, Rule 10b5-1, equity incentive plan, +1 more
5 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.
PSUs financial
"These PSUs were earned upon the final certification by the Board of Directors of the Issuer on April 22, 2026"
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.
Rule 10b5-1 regulatory
"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"
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.
indirectly beneficially owned financial
"Reflects shares indirectly beneficially owned by the Reporting Person through the Kathleen and Daniel Shugar Family Trust"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did Nextpower (NXT) report for CEO Daniel Shugar?
Nextpower reported that CEO Daniel Shugar executed two mandated tax-related "sell-to-cover" transactions totaling 150,958 common shares. These sales were tied to the vesting and conversion of PSUs and executed under the company’s pre-adopted Rule 10b5-1 sell-to-cover policy.
What triggered the PSUs that led to the Nextpower (NXT) CEO’s tax sales?
The PSUs were earned upon the final certification by Nextpower’s Board of Directors on April 22, 2026. Their vesting and conversion created tax obligations, which in turn triggered the required sell-to-cover share sales to satisfy withholding, as described in the footnotes.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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