Nextpower (NXT) COO receives RSUs and PSUs with rTSR targets
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Miller Nicholas Marco reported acquisition or exercise transactions in this Form 4 filing.
Nextpower Inc. reported that Chief Operating Officer Nicholas Marco Miller received equity awards in the form of company stock on May 19, 2026. The filing shows grants totaling 79,687 stock-based units at no cash cost to him, reflecting compensation rather than open-market purchases.
Footnotes explain that 62,499 of these are restricted stock units, each equal to one common share, vesting 30% on May 19, 2027, 30% on May 19, 2028, and 40% on May 19, 2029, if he continues serving the company. The remaining units relate to performance stock awards that were initially earned based on financial performance from April 1, 2025 to March 31, 2026 and are subject to an additional rTSR modifier through March 31, 2028, which can adjust the final number of shares earned between 75% and 150% of the initial amount.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Miller Nicholas Marco
Role
Chief Operating Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 6,212 | $0.00 | -- |
| Grant/Award | Common Stock | 10,976 | $0.00 | -- |
| Grant/Award | Common Stock | 62,499 | $0.00 | -- |
Holdings After Transaction:
Common Stock — 172,569 shares (Direct, null)
Footnotes (1)
- Reflects an award of restricted stock units ("RSUs") granted to the Reporting Person on May 19, 2026. Each RSU represents a contingent right to receive one share of the Issuer's common stock. The RSUs vest 30% on May 19, 2027, 30% on May 19, 2028, and 40% on May 19, 2029, subject to the Reporting Person's continued service to the Issuer through the relevant vesting date and acceleration in certain circumstances. Reflects performance stock units ("PSUs"), originally granted to the Reporting Person on May 23, 2025, which were initially earned upon certification by the Board of Directors of the Issuer on May 19, 2026 of the level of achievement of the financial performance metrics applicable to the PSUs for the performance period from April 1, 2025 to March 31, 2026. The PSUs remain subject to an rTSR modifier performance metric for the performance period from April 1, 2025 to March 31, 2028, pursuant to which the number of shares earned based on achievement of the financial performance metrics can be adjusted between 75% - 150%. Each earned PSU reflects the right to receive one share of the Issuer's common stock upon satisfaction of the applicable vesting conditions. The amount reported herein reflects 75% of the number of PSUs earned based on achievement of the financial performance metrics, which is the minimum amount of PSUs that will be earned and eligible to vest at the end of the three-year performance period, subject generally to the Reporting Person's continued employment with the Issuer through such date.
Key Figures
Restricted stock units granted: 62,499 units
Additional PSU tranche: 10,976 units
Additional PSU tranche: 6,212 units
+5 more
8 metrics
Restricted stock units granted
62,499 units
RSUs granted May 19, 2026
Additional PSU tranche
10,976 units
Performance stock units reflected May 19, 2026
Additional PSU tranche
6,212 units
Performance stock units reflected May 19, 2026
RSU vesting schedule
30% / 30% / 40%
Vesting on May 19, 2027, 2028, 2029
Performance modifier range
75%–150%
rTSR modifier on PSUs for 2025–2028 period
Initial PSU grant date
May 23, 2025
Original grant date for PSUs
Financial performance period
Apr 1, 2025–Mar 31, 2026
Period used to certify PSU financial metrics
TSR performance period
Apr 1, 2025–Mar 31, 2028
rTSR modifier measurement window for PSUs
Key Terms
restricted stock units ("RSUs"), performance stock units ("PSUs"), rTSR modifier, performance period, +1 more
5 terms
restricted stock units ("RSUs") financial
"Reflects an award of restricted stock units ("RSUs") granted to the Reporting Person on May 19, 2026."
Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.
performance stock units ("PSUs") financial
"Reflects performance stock units ("PSUs"), originally granted to the Reporting Person on May 23, 2025, which were initially earned upon certification..."
rTSR modifier financial
"The PSUs remain subject to an rTSR modifier performance metric for the performance period from April 1, 2025 to March 31, 2028..."
performance period financial
"for the performance period from April 1, 2025 to March 31, 2026."
The performance period is the specific time span over which an investment’s results, an employee’s targets, or a fund’s returns are measured and judged. It matters to investors because the length and start/end of that window determine which gains or losses count toward performance fees, bonus payouts, or benchmark comparisons—much like timing a race decides who wins, the chosen period can change whether results look strong or weak.
vesting conditions financial
"Each earned PSU reflects the right to receive one share of the Issuer's common stock upon satisfaction of the applicable vesting conditions."
Vesting conditions are the rules that determine when someone earning company stock or stock options actually gains the right to keep or sell them, typically based on staying with the company for a set time or meeting performance targets. Think of it like keys that unlock gradually — some unlock by calendar date, others only after agreed milestones. Investors care because vesting shapes management incentives, the timing of share sales, and the number of shares that can enter the market, which can affect a company's valuation and ownership mix.
FAQ
What did Nextpower (NXT) disclose about COO Nicholas Marco Miller in this Form 4?
Nextpower disclosed that COO Nicholas Marco Miller received stock-based compensation awards on May 19, 2026. These include restricted stock units and performance stock units tied to multi‑year financial and relative total shareholder return performance conditions, rather than open‑market share purchases or sales.
How many stock-based units did the Nextpower (NXT) COO receive?
The COO received grants totaling 79,687 stock-based units of Nextpower common stock. This includes 62,499 restricted stock units plus two performance-related stock unit tranches of 10,976 and 6,212 units, all awarded at a stated price of $0.00 per share as equity compensation.
How do the restricted stock units for Nextpower (NXT) COO vest?
The 62,499 restricted stock units vest over three years: 30% on May 19, 2027, 30% on May 19, 2028, and 40% on May 19, 2029. Vesting requires the COO’s continued service with Nextpower through each applicable vesting date, with possible acceleration in certain circumstances.
What performance period applies to the Nextpower (NXT) COO’s performance stock units?
The performance stock units were originally granted on May 23, 2025 and tied to financial performance from April 1, 2025 to March 31, 2026. They remain subject to a relative total shareholder return modifier measured over April 1, 2025 to March 31, 2028, which can adjust final shares earned.
How can the number of performance stock units for Nextpower (NXT) COO change?
The number of performance stock units ultimately earned can be adjusted between 75% and 150% of the amount earned from financial metrics. This adjustment depends on a relative total shareholder return modifier applied over the April 1, 2025 to March 31, 2028 performance period described in the disclosure.