LEDESMA BRUCE 4

What Happened

• Bruce Ledesma, Chief Legal & Compliance Officer of Nextpower Inc. (NXT), was credited with 64,103 performance stock units (PSUs) on 2026-05-19. The reported acquisition price is $0.00 (transaction code A — award/grant). These PSUs were originally granted May 23, 2025 and were certified by the Board on May 19, 2026 as earned based on financial metrics for the period April 1, 2025–March 31, 2026.
• Each earned PSU represents the right to receive one share of Nextpower common stock upon satisfaction of vesting conditions. The award remains subject to a relative TSR (rTSR) modifier for the multi-year performance period through March 31, 2028 that can adjust final payout between 75% and 150%. The 64,103 reported here reflects 75% of the number of PSUs earned (the minimum amount eligible to vest), subject to continued employment.

Key Details

• Transaction date: 2026-05-19; Form 4 filed 2026-05-20 (timely, one day after the transaction).
• Transaction type: Award/grant (code A); 64,103 PSUs @ $0.00 reported.
• Each PSU = right to one share upon vesting; rTSR modifier may increase/decrease final shares (75%–150% range).
• Reported amount reflects the 75% minimum portion eligible to vest at the end of the three-year performance period (subject to employment through that date).
• Shares owned after the transaction are not disclosed in the provided filing excerpt.

Context

• PSUs are performance-based, deferred equity awards, not open-market purchases or sales. They represent future upside tied to company financial goals and relative TSR performance plus continued service, rather than an immediate cash investment or liquidation.