NextCure (NXTC) Insider Kabakoff Granted Low-Priced Options

Rhea-AI Filing Summary

The latest Form 4 for NextCure, Inc. (ticker: NXTC) reports that director David S. Kabakoff received an equity-based compensation award of 28,050 stock options on 20 June 2025. The options carry an exercise price of $0.47 per share, expire on 19 June 2035, and are owned directly by the director. A single “A” transaction code indicates the acquisition of derivative securities; no open-market purchase or sale of common stock is involved.

Per the footnote, the award vests in full on the earlier of 20 June 2026 or the 2026 Annual Meeting of Stockholders. After the grant, Kabakoff’s beneficial ownership in derivative securities stands at 28,050 options. The filing contains no additional non-derivative holdings, no 10b5-1 trading plan disclosure, and no amendments to prior filings.

Because this is a routine director compensation grant under the company’s incentive plan, it does not change NextCure’s cash position and produces only minimal potential dilution already anticipated in the plan’s share reserve. Investors may view the low strike price as an incentive to drive long-term shareholder value, but the transaction itself is unlikely to have a material near-term impact on NXTC’s share price or fundamentals.

Positive

• Alignment of interests: Granting 28,050 options at a low $0.47 strike ties director compensation to future share performance.
• Compliance clarity: Filing is timely and includes full vesting and expiration details, indicating strong governance procedures.

Negative

• Potential dilution: Any option grant slightly increases the fully diluted share count, though the effect here is minimal.

Insights

Financial Analyst

TL;DR: Routine option grant; negligible financial impact, aligns director incentives.

This Form 4 shows a standard annual equity award to director David Kabakoff—28,050 options at a strike of $0.47. No shares change hands, so there is no immediate cash outlay or inflow, and dilution is immaterial relative to NextCure’s outstanding share count. The ten-year term and one-year vesting schedule mirror typical governance practices. As there are no concurrent sales, the filing does not signal insider sentiment shifts. Overall, the event is neutral for valuation and liquidity, warranting limited investor attention.

Corporate Governance Expert

TL;DR: Standard board compensation; supports alignment, no red flags detected.

The board continues to compensate directors with option grants, which helps align oversight incentives with shareholder returns. The one-year cliff vesting ensures commitment through the 2026 AGM. Legal formalities are met—signature by attorney-in-fact, proper Section 16 timing, and clear footnote disclosure. No 10b5-1 plan is claimed, reducing complexity. Given the modest size of the grant and its conformity to policy, the governance impact is neutral to mildly positive, but not sufficiently material to influence investment decisions.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider KABAKOFF DAVID S

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (Right to Buy)	28,050	$0.00	--

Holdings After Transaction: Stock Option (Right to Buy) — 28,050 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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).

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^*

KABAKOFF DAVID S

(Last) (First) (Middle)

C/O NEXTCURE, INC.

9000 VIRGINIA MANOR ROAD, SUITE 200

(Street)

BELTSVILLE MD 20705

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NextCure, Inc. [ NXTC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/20/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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

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
Stock Option (Right to Buy)	$0.47	06/20/2025		A		28,050		(1)	06/19/2035	Common Stock	28,050	$0	28,050	D

Explanation of Responses:

1. The option vests in full on the earlier of June 20, 2026 and the date of the 2026 Annual Meeting of Stockholders.

	/s/ Steven P. Cobourn, as attorney-in-fact for David S. Kabakoff	06/24/2025
	** 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.

FAQ

What did director David S. Kabakoff acquire in the Form 4 for NXTC?

He received 28,050 stock options to purchase NextCure common stock.

At what price can the options be exercised?

The exercise price is $0.47 per share.

When do the options vest and expire?

They vest fully by 20 June 2026 or the 2026 AGM, whichever comes first, and expire on 19 June 2035.

Does the Form 4 report any purchase or sale of NXTC common stock?

No. The filing only reports an option grant; no common shares were bought or sold.

Is the transaction likely to affect NextCure shareholders?

Impact is minimal; it is a routine compensation grant with negligible dilution.