Daniel S. Shugar - Jun 21, 2024 Form 4 Insider Report for Nextracker Inc. (NXT)

Role
Chief Executive Officer, Director
Signature
/s/ Philip Reuther, as attorney-in-fact for Daniel S. Shugar
Stock symbol
NXT
Transactions as of
Jun 21, 2024
Transactions value $
-$1,190,442
Form type
4
Date filed
6/25/2024, 06:44 PM
Previous filing
May 22, 2024
Next filing
Jul 1, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NXT Common Stock Options Exercise +42.9K +12.04% 399K Jun 21, 2024 Direct F1
transaction NXT Common Stock Other -$1.19M -23.3K -5.84% $51.07 376K Jun 21, 2024 Direct F2
holding NXT Common Stock 124K Jun 21, 2024 By Trust F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction NXT Restricted Stock Units Options Exercise -42.9K -30% 100K Jun 21, 2024 Common Stock 42.9K Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Reflects the vesting and conversion of restricted stock units ("RSUs"), which were previously granted to the Reporting Person on June 21, 2023, into shares of the Issuer's common stock, on a one-for-one basis.
F2 Reflects the number of shares required to be sold pursuant to a "sell-to-cover" transaction in order to satisfy the tax withholding obligations in connection with the vesting and conversion of RSUs. These sales are mandated by the Issuer's "sell-to-cover" policy adopted by the Issuer on March 2, 2023 pursuant to the requirements of Rule 10b5-1 and its authority under its equity incentive plan, and do not represent discretionary trades by the Reporting Person.
F3 Reflects shares indirectly beneficially owned by the Reporting Person through the Kathleen and Daniel Shugar Family Trust, dated May 10, 2007.