Corbin Chad Gregory 4

What Happened Corbin Chad Gregory, Chief Financial Officer of NextBoat Inc. (OTH), had 50,000 restricted stock units (RSUs vest) convert into common stock on May 26, 2026. The gross value of the vested shares at the market price on the vesting date ($2.44) was $122,000. To satisfy tax withholding obligations, 16,233 shares were surrendered (cashless withholding), leaving Gregory with a net issuance of 33,767 shares (net value ≈ $82,391). No shares were sold into the market.

Key Details

• Transaction dates and prices: Vesting/conversion on 2026-05-26 at $2.44 per share (gross 50,000 shares = $122,000); 16,233 shares withheld (≈ $39,609) for taxes. Filing date: 2026-05-28.
• Net shares received: 33,767 common shares (no open-market sale reported).
• Footnotes: RSUs represent contingent rights to one share each; these RSUs vested in full on the six-month anniversary of grant (May 26, 2026) subject to continued employment. The company withheld shares to cover tax obligations (routine).
• Other grants: Filing notes two additional RSU grants of 50,000 shares each (11/26/2025) remain unvested.
• Timeliness: Form 4 was filed two days after the transaction (not indicated as late).

Context This was a vesting/conversion of RSUs (derivative-to-stock event), not a purchase or a market sale. The withholding of shares to cover taxes is a common, routine method (cashless withholding) and does not indicate an open-market sale or change in investment stance. For retail investors, RSU vesting shows compensation realization by the CFO but is not the same signal as an insider buying shares on the open market.