Form 4 for NXT Nextpower Inc.
Accepted 2024-05-22 00:00:00 ET · period of report 2024-05-21 · accession 0000950103-24-007023 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DM | 2024-05-22 | 2024-05-21 | NXT | SHUGAR DANIEL S | CEO, Dir | A - Grant | $0.00 | +348.6K | 355.9K | +4,767% | $0 |
| DM | 2024-05-22 | 2024-05-21 | NXT | SHUGAR DANIEL S | CEO, Dir | A - Grant | $0.00 | +181.8K | 102.0K | New | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2024-05-21 | A | A | 214,368 | $0.00 | 221,682 | D | — | — | (F1) Reflects performance stock units ("PSUs"), originally granted to the Reporting Person on June 21, 2023, which were initially earned upon certification by the Board of Directors of the Issuer on May 21, 2024 of the level of achievement of the financial performance metrics applicable to the PSUs for the performance period from April 1, 2023 to March 31, 2024. The PSUs remain subject to an rTSR modifier performance metric for the performance period from April 1, 2023 to March 31, 2026, pursuant to which the number of shares earned based on achievement of the financial performance metrics can be adjusted between 75% - 150%. (F3) Each earned PSU reflects the right to receive one share of the Issuer's common stock upon satisfaction of the applicable vesting conditions. (F2) 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. |
| 2 | Common | Common Stock | 2024-05-21 | A | A | 134,260 | $0.00 | 355,942 | D | — | — | (F4) Reflects an award of restricted stock units ("RSUs") granted to the Reporting Person on May 21, 2024. Each RSU represents a contingent right to receive one share of the Issuer's common stock. The RSUs vest 30% on May 21, 2025, 30% on May 21, 2026, and 40% on May 21, 2027, subject to the Reporting Person's continued service to the Issuer through the relevant vesting date and acceleration in certain circumstances. |
| 3 | Derivative | Performance Stock Units | 2024-05-21 | A | A | 79,786 | — | 143,536 | D | — · — to — | 79,786 Common Stock | (F6) Reflects the second tranche of an award of PSUs, originally granted to the Reporting Person on April 6, 2022, which was earned upon the certification by the Board of Directors of the Issuer on May 21, 2024 of the level of achievement of the performance metrics applicable to the PSUs for the performance period from April 1, 2023 to March 31, 2024. The earned PSUs will service-vest on March 31, 2025, subject generally to the Reporting Person's continued employment with the Issuer through such date. (F3) Each earned PSU reflects the right to receive one share of the Issuer's common stock upon satisfaction of the applicable vesting conditions. |
| 4 | Derivative | Stock Option (Right to Buy) | 2024-05-21 | A | A | 102,019 | $0.00 | 102,019 | D | $47.05 · — to 2034-05-21 | 102,019 Common Stock | (F7) Reflects an award of stock options to purchase shares of common stock of the Issuer granted to the Reporting Person on May 21, 2024. This option will vest and become exercisable on May 21, 2027, subject to the Reporting Person's continued service to the Issuer through the vesting date and acceleration in certain circumstances. |