Bennett David P 4

What Happened
David P. Bennett, Chief Accounting Officer of NextPower, had 25,407 restricted stock units (RSUs) vest and convert into 25,407 shares on 2026-06-18. To satisfy tax withholding obligations, 13,368 of those shares were sold on 2026-06-22 at $128.38 per share, generating $1,716,184. The remaining 12,039 shares were retained. This sale was a sell-to-cover transaction (routine for tax withholding), not an open-market discretionary sale.

Key Details

• Transaction dates: RSU conversion on 2026-06-18; share disposition (sell-to-cover) on 2026-06-22 at $128.38.
• Proceeds from disposition: $1,716,184 (13,368 shares × $128.38).
• Shares retained after the transaction: 12,039 (25,407 converted − 13,368 sold).
• Footnotes: F1 — RSUs granted June 21, 2023 vested and converted one-for-one into common stock. F2 — The sale was mandated by the issuer’s sell-to-cover policy adopted under Rule 10b5-1 and was not a discretionary trade by the reporting person.
• Filing timeliness: Form 4 filed 2026-06-23 while the primary transactions occurred 2026-06-18/06-22; this appears later than the standard 2-business-day filing window.

Context
“M” coded entries reflect exercise/conversion of a derivative — here the vesting/conversion of RSUs into common shares. The subsequent sale was a sell-to-cover to pay taxes (similar to a cashless exercise) and is generally considered routine, not necessarily a signal of confidence or lack thereof. Purchases by insiders tend to be more informative than routine sell-to-cover disposals.