William D. Watkins - Jan 2, 2024 Form 4 Insider Report for Nextracker Inc. (NXT)

Role
Director
Signature
/s/ Leah Schlesinger, Attorney-in-Fact for William D. Watkins
Stock symbol
NXT
Transactions as of
Jan 2, 2024
Transactions value $
$0
Form type
4
Date filed
1/4/2024, 05:11 PM
Previous filing
Sep 25, 2023
Next filing
Aug 9, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NXT Common Stock Award $0 +17.7K $0.00 17.7K Jan 2, 2024 By Trust F1, F2, F3, F4
holding NXT Common Stock 9.5K Jan 2, 2024 Direct
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On January 2, 2024, Flex Ltd. ("Flex") completed a distribution of all of the shares of common stock of Yuma, Inc. ("Yuma Shares") to Flex shareholders on a pro rata basis based on the number of ordinary shares of Flex (each, a "Flex Share") held by each Flex shareholder (the "Distribution") as of December 29, 2023, pursuant to that certain Agreement and Plan of Merger by and among Nextracker Inc. ("Nextracker"), Flex, Yuma, Inc. and Yuma Acquisition Corp. ("Merger Sub"), dated as of February 7, 2023 (the "Merger Agreement").
F2 Upon the consummation of the Distribution, on January 2, 2024, Flex completed the merger of Yuma Inc. with and into Merger Sub, with Yuma surviving the merger as a wholly owned subsidiary of Nextracker (the "Merger"). Pursuant to the Merger Agreement, as a result of the Merger, each Yuma Share that was issued and outstanding as of immediately prior to the closing of the Merger automatically converted into the right to receive a number of shares of Class A common stock, par value $0.0001 of Nextracker ("Nextracker Class A Common Stock") based on an exchange ratio of 0.174185 (the "Exchange Ratio").
F3 This amount reflects the number of shares of Nextracker Class A Common Stock issued by Nextracker to the Reporting Person in connection with the Merger in respect of the number of Yuma Shares held by the Reporting Person after giving effect to the Distribution.
F4 Shares held by the Denise P. Watkins u/a/d 01-0701994 William D. Watkins Trustee of Watkins Family Trust, of which the Reporting Person and his spouse are co-trustees and co-beneficiaries.