Daniel S. Shugar - Feb 8, 2023 Form 3 Insider Report for Nextracker Inc. (NXT)

Role
Chief Executive Officer, Director
Signature
/s/ Leah Schlesinger, Attorney-in-Fact for Daniel Shugar
Stock symbol
NXT
Transactions as of
Feb 8, 2023
Transactions value $
$0
Form type
3
Date filed
2/9/2023, 05:01 PM
Next filing
Feb 17, 2023

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
holding NXT Restricted Stock Units Feb 8, 2023 Common Stock 133K Direct F1
holding NXT Stock Option (Right to Buy) Feb 8, 2023 Common Stock 399K $21.00 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock ("Common Stock"). The RSUs vest 30% on April 1, 2023, 30% on April 1, 2024, and the remainder on April 1, 2025, subject to the Reporting Person's continued service to the Issuer through the relevant vesting date and acceleration in certain circumstances.
F2 These stock options vest between 0% and 100% based on the Issuer's equity valuation achieving certain compounded annual growth rates in excess of an initial valuation of $3 billion over the four year period beginning April 1, 2022 and ending March 31, 2026, with the ending valuation based on the average of the Issuer's closing prices on the previous twenty (20) trading days prior to March 31, 2026, subject to the Reporting Person's continued service to the Issuer through the relevant vesting date and acceleration in certain circumstances.

Remarks:

Exhibit List: Exhibit 24 - Power of Attorney