SEC Form 4 · accession 0000950103-26-008599
Nextpower Inc. · NXT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Daniel S Shugar
Officer — Chief Executive Officer · Director
Period of report
Jun 4, 2026
Accepted (ET)
Jun 5, 2026 · 4:38 pm EDT
Rule 10b5-1 plan
yes — trade under a plan
Issuer CIK
0001852131
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Jun 4, 2026 | M | 21,402 | $21.00 | A | 933,081 | D | |
| Common StockF3 | holding | — | — | — | 18,104 | I | By Trust |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (Right to Buy)F1,F2,F4 | $21.00 | Jun 4, 2026 | M | 21,402 | D | Apr 1, 2026 | Mar 15, 2027 | Common Stock | 21,402 | 0 | D |
Explanation of responses
- F1Reflects an award of performance-based options ("Performance Options") to purchase shares of the Issuer's common stock ("Common Stock") that vested and became exercisable as of April 1, 2026 upon the achievement of both a continuous service requirement and the achievement of certain Nextpower equity valuation growth conditions. These Performance Options contain unique restrictions which (i) provide a limited period of time following vesting to exercise such Performance Options (i.e., by no later than March 15, 2027) or otherwise such Performance Options terminate and (ii) cap the maximum "gain" value realizable by Mr. Shugar upon exercise of the total award of Performance Options at 250% of the aggregate exercise price (the "Max Benefit Limit").
- F2The exercise reported in this Form 4 was effected pursuant to a 10b5-1 trading plan adopted by the Reporting Person on December 3, 2025.
- F3Reflects shares indirectly beneficially owned by the Reporting Person through the Kathleen and Daniel Shugar Family Trust, dated May 10, 2007.
- F4As a result of the application of the Max Benefit Limit, 212,169 Performance Options were forfeited and cancelled without any consideration.