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NEXTNAV INC.·4

Mar 23, 8:32 PM ET

Gray Timothy 4

Research Summary

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Updated

NEXTNAV (NN) CFO Timothy Gray Receives RSUs, Sells 1,405 Shares

What Happened

  • Timothy Gray, Chief Financial Officer of NEXTNAV, received equity awards on March 19, 2026 and sold a small number of shares the next day. The Form 4 reports grants totaling 44,400 restricted stock units (3,372 bonus RSUs that vested immediately + 41,028 time‑vesting RSUs) and a grant of stock options covering 60,342 shares (total units = 104,742). On March 20, 2026 he sold 1,405 shares in an open‑market transaction at $18.11 per share, generating proceeds of $25,445. The filing states the sale proceeds were used to satisfy tax withholding related to the vested bonus RSUs.

Key Details

  • Transaction dates and prices:
    • 2026-03-19: Award/acquisition of 3,372 RSUs (bonus, 100% vested on grant) — $0 price (award).
    • 2026-03-19: Grant of 41,028 RSUs (time‑vesting) — $0 price (award).
    • 2026-03-19: Grant of options covering 60,342 shares (derivative award) — $0 price (award of options).
    • 2026-03-20: Open‑market sale of 1,405 shares at $18.11, proceeds $25,445.
  • Shares/units received: 44,400 RSUs granted (3,372 immediately vested); 60,342 options granted (derivative).
  • Post‑transaction beneficial ownership: Not specified in the filing.
  • Footnotes of note:
    • F1: 3,372 Bonus RSUs vested 100% on March 19, 2026.
    • F2: 41,028 RSUs vest over four years (25% at 1 year, then quarterly thereafter).
    • F3: The March 20 sale proceeds were used to satisfy tax withholding for the vested Bonus RSUs.
    • F4: Options vest 25% after one year, then quarterly over three years.
  • Filing timeliness: Reported on March 23, 2026 for transactions dated March 19–20, 2026; this appears to be within the standard Form 4 reporting window (filed within two business days).

Context

  • The bulk of activity is receipt of equity compensation (awards and option grants), not a cash purchase. The small open‑market sale was disclosed as being to cover tax withholding on vested bonus RSUs, a common administrative sale and not necessarily an expression of sentiment about the stock. The options are subject to multi‑year vesting; exercise and subsequent sale would be separate transactions if and when they occur.