BOYNTON CHARLES D 4
4 · Nextpower Inc. · Filed May 20, 2026
Research Summary
AI-generated summary of this filing
Nextpower (NXT) CFO Charles D. Boynton Receives Equity Award
What Happened
Charles D. Boynton, Chief Financial Officer of Nextpower, was granted equity awards on May 19, 2026: 24,851 restricted stock units (RSUs) and 96,153 performance stock units (PSUs), for a total of 121,004 units. Both awards are reported as acquisitions at $0 on the Form 4. The RSUs follow a time-based vesting schedule; the PSUs were certified as earned based on 2025–2026 financial metrics but remain subject to a relative TSR modifier and future vesting conditions.
Key Details
- Transaction date and price: May 19, 2026; acquisition price reported $0 (code A = award/grant).
- Share counts: 24,851 RSUs; 96,153 PSUs; total 121,004 units reported.
- Shares owned after transaction: Not disclosed in the filing.
- Notable footnotes:
- RSUs (F1): Vest 30% on 5/19/2027, 30% on 5/19/2028 and 40% on 5/19/2029, subject to continued service and certain acceleration events.
- PSUs (F2–F4): Originally granted 5/23/2025 and certified by the board on 5/19/2026 for the Apr 1, 2025–Mar 31, 2026 performance period; reported amount reflects 75% (the minimum) of PSUs earned based on financial metrics. PSUs remain subject to an rTSR modifier for the full three‑year performance period (Apr 1, 2025–Mar 31, 2028) that can adjust final payout between 75%–150%. Each earned PSU converts to one share upon satisfaction of vesting conditions.
- Filing timeliness: Form 4 was filed 2026-05-20 (one day after the report date), which falls within normal reporting timelines.
Context
These awards are compensation, not open-market purchases or sales, and they generally vest over time (and for PSUs depend on continued performance and a relative TSR modifier). Until vesting conditions are met, the units are not freely tradable. Such grants are routine for executives and should be viewed as part of long-term incentive pay rather than an immediate market signal.
Insider Transaction Report
- Award
Common Stock
[F1]2026-05-19+24,851→ 310,910 total - Award
Common Stock
[F2][F3][F4]2026-05-19+96,153→ 407,063 total
Footnotes (4)
- [F1]Reflects an award of restricted stock units ("RSUs") granted to the Reporting Person on May 19, 2026. Each RSU represents a contingent right to receive one share of the Issuer's common stock. The RSUs vest 30% on May 19, 2027, 30% on May 19, 2028, and 40% on May 19, 2029, subject to the Reporting Person's continued service to the Issuer through the relevant vesting date and acceleration in certain circumstances.
- [F2]Reflects performance stock units ("PSUs"), originally granted to the Reporting Person on May 23, 2025, which were initially earned upon certification by the Board of Directors of the Issuer on May 19, 2026 of the level of achievement of the financial performance metrics applicable to the PSUs for the performance period from April 1, 2025 to March 31, 2026. The PSUs remain subject to an rTSR modifier performance metric for the performance period from April 1, 2025 to March 31, 2028, 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.
- [F4]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.