KERBY WILLIAM 5
5 · NextTrip, Inc. · Filed Mar 28, 2025
Insider Transaction Report
Form 5
NextTrip, Inc.NTRP
KERBY WILLIAM
Director
Transactions
- Award
Series L Nonvoting Convertible Preferred Stock
2024-12-31$3.02/sh+165,562$499,997→ 331,124 total→ Common Stock (165,562 underlying) - Award
Series L Nonvoting Convertible Preferred Stock
2025-02-24$3.02/sh+165,562$499,997→ 331,124 total→ Common Stock (165,562 underlying)
Footnotes (4)
- [F1]Shares of Series L Nonvoting Convertible Preferred Stock ("Series L Preferred") shall not be convertible into shares of common stock unless and until stockholder approval of the conversion of the Series L Preferred into common stock ("Stockholder Approval") is obtained. Following receipt of Stockholder Approval, each share of Series L Preferred will automatically convert into one share of common stock, subject to certain limitations.
- [F2]On December 31, 2024, the Issuer and the Reporting Person entered into a debt conversion agreement, pursuant to which $0.5 million in existing promissory notes owed to the Reporting Person for monies advanced to the Issuer were converted into 165,562 shares of Series L Preferred at a price of $3.02 per share. The debt conversion agreement and the conversion of the promissory notes into shares of Series L Preferred were approved in advance by the Issuer's board of directors.
- [F3]The shares of Series L Preferred do not expire.
- [F4]On February 24, 2025, the Issuer and the Reporting Person entered into a debt conversion agreement, pursuant to which $0.5 million in deferred salary owed to the Reporting Person was converted into 165,562 shares of Series L Preferred at a price of $3.02 per share. The debt conversion agreement and the conversion of the deferred salary into shares of Series L Preferred were approved in advance by the Issuer's board of directors.