FARKAS MICHAEL D 4

What Happened

• Michael D. Farkas, a 10% owner of NEXTNRG, reported an acquisition of 260,000 shares of NEXTNRG common stock on June 16, 2026. The Form 4 lists the price as $0.39 per share (aggregate $100,360). A footnote to the filing states the Stock Purchase Agreement set the price at $0.386/share for an aggregate $100,360, and that instead of paying cash Mr. Farkas discharged $100,360 of liabilities owed to him under a March 7, 2024 note. Transaction code reported: A (grant/award/other acquisition). This was a purchase from the issuer (not an open‑market trade).

Key Details

• Transaction date: 2026-06-16; Form filed: 2026-06-18 (filed two days after the transaction; appears timely for a Form 4).
• Price reported on Form: $0.39/share; SPA footnote price: $0.386/share; aggregate purchase price: $100,360.
• Number of shares acquired: 260,000 (acquired from the issuer under a Stock Purchase Agreement).
• Consideration: In lieu of a cash payment, Mr. Farkas forgave $100,360 of liabilities under a prior note.
• Ownership/convertible interests noted: filing excludes 725,200 shares that may be issued upon conversion of 140,000 shares of Series B preferred stock held by Mr. Farkas (per footnote). The filing also notes shares held by entities (SIF Energy LLC, Balance Labs, Inc., Inductive Holdings LLC) over which he has voting and investment control.
• No indication in the filing that shares were immediately sold or that this was a tax-withholding or gift transaction.

Context

• This was a direct purchase from the company under an agreement with the issuer—not an open market buy—so it represents an issuer-approved issuance in exchange for extinguishing a personal claim rather than an independent market bet.
• As a 10% owner, Mr. Farkas is a significant holder; such transactions reflect changes in insider holdings but do not by themselves explain intent or future company prospects.