Bennett David P 4
4 · Nextpower Inc. · Filed May 27, 2026
Research Summary
AI-generated summary of this filing
Nextpower (NXT) CAO David P. Bennett Sells 1,234 Shares
What Happened
David P. Bennett, Chief Accounting Officer of Nextpower Inc. (NXT), had 1,234 shares disposed of on May 26, 2026 at $129.38 per share, generating proceeds of $159,655. The filing reports the transaction as an "other acquisition or disposition" (code J), but a footnote clarifies these shares were sold to satisfy tax withholding obligations related to the vesting and conversion of RSUs — not a discretionary sale.
Key Details
- Transaction date and price: May 26, 2026 — 1,234 shares at $129.38 per share. Total proceeds: $159,655.
- Filing date/timeliness: Form 4 filed May 27, 2026 (timely; within the standard reporting window).
- Shares owned after transaction: Not specified in the provided filing excerpt.
- Footnote: Sale reflects a "sell-to-cover" required by the issuer's policy (adopted Mar 2, 2023) in connection with RSU vesting and conversion; mandated under the equity incentive plan and Rule 10b5-1, and does not represent a discretionary trade by the reporting person.
- Transaction code: Reported as J (other acquisition/disposition) with explanatory footnote (sell-to-cover / tax withholding).
Context
Sell-to-cover transactions occur when a company withholds or sells a portion of vested equity awards to cover taxes; these are routine and generally do not signal insider views on the company's outlook. For retail investors, purchases by insiders tend to be more informative than mandatory tax-withholding sales like this one.
Insider Transaction Report
- Other
Common Stock
[F1]2026-05-26$129.38/sh−1,234$159,655→ 149,162 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 RSUs. 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.