NEXTNRG CEO acquires 260K shares, cancels note
NEXTNRG, INC. director and CEO Michael D. Farkas acquired 260,000 shares of common stock on June 16, 2026 in a compensation-related transaction.
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Form Type
4
Rhea-AI Filing Summary
NEXTNRG, INC. director and CEO Michael D. Farkas acquired 260,000 shares of common stock on June 16, 2026 in a compensation-related transaction. The company issued these shares at $0.386 per share under a Stock Purchase Agreement, for an aggregate value of $100,360.
Instead of paying cash, Farkas cancelled $100,360 of liabilities the company owed him under a March 7, 2024 note. Following this award, he directly holds 63,497,924 common shares and also has indirect holdings through SIF Energy LLC, Balance Labs, Inc., and Inductive Holdings LLC, over which he has voting and investment control.
Insider Trade Summary
Grant/Award: 260,000 shares
Grant/Award
4 txns
Insider
FARKAS MICHAEL D
Role
CEO and Executive Chairman
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 260,000 | $0.386 | $100K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 63,497,924 shares (Direct);
Common Stock — 13,081,593 shares (Indirect, See footnote)
Footnotes (5)
- F1. Represents a purchase from the issuer pursuant to a Stock Purchase Agreement between Mr. Farkas and the issuer, dated June 16, 2026 (the "SPA"). Pursuant to the terms of the SPA, the issuer issued 260,000 shares of common stock to Mr. Farkas at a price per share of $0.386, for an aggregate purchase price of $100,360 (the "Purchase Price"). In lieu of delivering the Purchase Price, Mr. Farkas absolved the issuer of liabilities totaling $100,360 owed to Mr. Farkas pursuant to a note dated March 7, 2024.
- F2. Does not include 725,200 shares of common stock which may be issued upon conversion of 140,000 shares of Series B preferred stock held by the reporting person, each with a stated value of $10.00 per share, at 70% of $2.78 (the minimum price on the date of issuance).
- F3. Held by SIF Energy LLC. The reporting person has voting and investment control over such shares.
- F4. Held by Balance Labs, Inc. The reporting person has voting and investment control over such shares.
- F5. Held by Inductive Holdings LLC. The reporting person has voting and investment control over such shares.
Key Figures
Shares acquired: 260,000 shares
Issue price per share: $0.386 per share
Aggregate transaction value: $100,360
+5 more
8 metrics
Shares acquired
260,000 shares
Common Stock grant/award on June 16, 2026
Issue price per share
$0.386 per share
Stock Purchase Agreement with issuer
Aggregate transaction value
$100,360
Value of liabilities cancelled in lieu of cash
Direct holdings after transaction
63,497,924 shares
Common Stock directly owned by Michael D. Farkas
Indirect holding SIF Energy LLC
12,900,188 shares
Common Stock held indirectly with voting and investment control
Indirect holding Balance Labs, Inc.
26,578 shares
Common Stock held indirectly with voting and investment control
Indirect holding Inductive Holdings LLC
154,827 shares
Common Stock held indirectly with voting and investment control
Potential common from Series B
725,200 shares
Possible upon conversion of 140,000 Series B preferred shares
Key Terms
Stock Purchase Agreement, Series B preferred stock, stated value, conversion, +1 more
5 terms
Stock Purchase Agreement financial
"Represents a purchase from the issuer pursuant to a Stock Purchase Agreement between Mr. Farkas and the issuer"
A stock purchase agreement is a legal contract that sets the terms for buying or selling shares, specifying the price, number of shares, how payment is made, and any conditions or promises each side must meet. It matters to investors because it defines who owns what, when ownership changes, and what protections or obligations attach to the deal—think of it as a detailed receipt plus the house rules that determine the financial risks and benefits of the transaction.
Series B preferred stock financial
"140,000 shares of Series B preferred stock held by the reporting person"
Series B preferred stock is a type of ownership share issued by a company that offers certain advantages over common stock, such as priority in receiving dividends or assets if the company is sold or liquidated. It is typically issued after an initial round of funding, making it a way for investors to support a company's growth while gaining some protections and benefits. This stock matters to investors because it often provides a more secure investment position with potential for future growth.
stated value financial
"each with a stated value of $10.00 per share"
Stated value is an accounting figure a company assigns to a share when the share has no par (legal) value; it becomes the portion of proceeds recorded as the company’s permanent capital for regulatory and bookkeeping purposes. It matters to investors because it affects the equity reported on the balance sheet and the legal limits on distributions or dividend payments, but it is not the market price — think of it as a record-keeping sticker price rather than what buyers actually pay.
conversion financial
"shares of common stock which may be issued upon conversion of 140,000 shares of Series B preferred stock"
Conversion is the exchange of one type of financial instrument for another, most commonly turning convertible bonds or preferred shares into common stock. It matters to investors because conversion changes the number of outstanding shares and ownership stakes—like trading a coupon for a slice of a company—potentially reducing each existing owner's portion, affecting per-share earnings, voting power and the market value of the stock.
voting and investment control financial
"The reporting person has voting and investment control over such shares"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did NEXTNRG (NXXT) CEO Michael Farkas report in this Form 4?
Michael D. Farkas reported receiving 260,000 shares of NEXTNRG common stock on June 16, 2026. The shares were issued under a Stock Purchase Agreement in exchange for cancelling $100,360 of liabilities owed to him under a March 7, 2024 note.
Was this NEXTNRG (NXXT) Form 4 an open-market stock purchase?
No, the Form 4 shows a grant or award acquisition, not an open-market trade. NEXTNRG issued 260,000 shares directly to Michael D. Farkas under a Stock Purchase Agreement in exchange for cancelling $100,360 of liabilities, rather than a cash purchase in the market.
What does the Form 4 say about the CEO’s preferred stock in NEXTNRG (NXXT)?
The filing notes that it does not include 725,200 common shares that may be issued if 140,000 shares of Series B preferred stock held by Michael D. Farkas are converted, using a formula based on 70% of $2.78 as the minimum issuance price.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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