LEDESMA BRUCE 4

What Happened
Bruce Ledesma, Nextpower’s Chief Legal & Compliance Officer, reported RSUs vesting and converting into 20,326 shares on June 18, 2026. Following the conversion, 10,436 shares were disposed (sold) on June 22, 2026 at $128.38 per share for proceeds of $1,339,774. The filings also show conversion/exercise-related derivative entries tied to the RSU settlement.

Key Details

• Transaction dates and amounts:
  • 2026-06-18: RSUs vested and converted into 20,326 common shares (reported as exercise/conversion, code M). (F1)
  • 2026-06-22: 10,436 shares sold at $128.38 per share; proceeds $1,339,774 (reported as other disposition, code J).
• Shares owned after the reported transactions: not specified in the provided filing excerpt.
• Footnotes: F1 = conversion of previously granted RSUs (one-for-one). F2 = the sale reflects a mandatory "sell-to-cover" to satisfy tax withholding under the company’s policy (Rule 10b5-1); these sales were not discretionary trades by the reporting person.
• Filing/timeliness: Form filed 2026-06-23 for transactions dated 6/18 and 6/22. No late-filing flag was provided in the excerpt.

Context
The primary activity here is an RSU vesting/conversion followed by a sell-to-cover tax withholding sale. RSU conversions and automatic sell-to-cover transactions are routine administrative events; they represent vesting and tax-related dispositions rather than voluntary open-market selling intended as a market signal. Transaction code M indicates exercise/conversion of a derivative (RSU settlement) and the sale is marked as a mandated tax-withholding sale.