Bennett David P 4
4 · Nextpower Inc. · Filed Apr 28, 2026
Research Summary
AI-generated summary of this filing
Nextpower (NXT) CAO David Bennett Sells 67,093 Shares
What Happened
David P. Bennett, Chief Accounting Officer of Nextpower Inc. (NXT), disposed of a total of 67,093 shares in two non‑discretionary sell‑to‑cover transactions following the vesting and conversion of performance stock units (PSUs). On 2026-04-27 he sold 32,908 shares at $120.32 for $3,959,491; on 2026-04-28 he sold 34,185 shares at $115.82 for $3,959,307. Both transactions are reported as "Other acquisition or disposition (J)" and are disposals (sales).
Key Details
- Transaction dates and amounts:
- 2026-04-27: 32,908 shares @ $120.32 — $3,959,491
- 2026-04-28: 34,185 shares @ $115.82 — $3,959,307
- Total sold: 67,093 shares for approximately $7.92 million.
- Shares owned after transaction: Not specified in the provided filing excerpt.
- Footnote: These sales were mandated by Nextpower’s sell‑to‑cover policy (adopted Mar 2, 2023) to satisfy tax withholding on PSU vesting/conversion; executed under the issuer’s authority and Rule 10b5‑1 — they are not discretionary trades by the reporting person.
- Filing: Form 4 filed 2026-04-28 covering the 4/27 and 4/28 transactions; filing appears timely based on the reported dates.
Context
Sell‑to‑cover transactions are a routine way for insiders to cover tax obligations when restricted awards or PSUs convert to shares; they don’t necessarily reflect the insider’s view of the company’s prospects. Because these were mandated tax‑related disposals, they are generally considered less informative than voluntary open‑market purchases or sales.
Insider Transaction Report
- Other
Common Stock
[F1]2026-04-27$120.32/sh−32,908$3,959,491→ 160,667 total - Other
Common Stock
[F1]2026-04-28$115.82/sh−34,185$3,959,307→ 126,482 total
Footnotes (1)
- [F1]Reflects the number of shares required to be sold pursuant to a "sell-to-cover" transaction in order to satisfy the tax withholding obligations in connection with the vesting and conversion of PSUs. These sales are mandated by the Issuer's "sell-to-cover" policy adopted by the Issuer on March 2, 2023 pursuant to the requirements of Rule 10b5-1 and its authority under its equity incentive plan, and do not represent discretionary trades by the Reporting Person.