Form 4: NEXTNRG CEO Michael Farkas Gifts 1 Million Shares to Congregation

NEXTNRG, Inc. CEO and Executive Chairman Michael D. Farkas reported a disposition of 1,000,000 shares of common stock as a bona fide gift to Congregation Bais Avrohom Zev.

Summary

• Michael D. Farkas, the CEO, Executive Chairman, Director, and 10% Owner of NEXTNRG, INC. (NXXT), filed a Form 4 reporting a change in his beneficial ownership.
• On June 20, 2025, Mr. Farkas disposed of 1,000,000 shares of NEXTNRG Common Stock.
• This disposition was executed as a bona fide gift to Congregation Bais Avrohom Zev.
• Following the gift, Mr. Farkas no longer possesses voting or investment power over the 1,000,000 shares transferred to the Congregation.
• After the reported transaction, Mr. Farkas's total beneficial ownership in NEXTNRG, INC. stands at 74,232,561 shares.
• This total includes 61,150,968 shares held directly and 13,081,533 shares held indirectly through various entities: 154,827 shares by SIF Energy LLC, 26,578 shares by Balance Labs, Inc., and 12,900,188 shares by Inductive Holdings LLC.
• Mr. Farkas retains voting and investment control over the shares held by SIF Energy LLC, Balance Labs, Inc., and Inductive Holdings LLC.

Sentiment

Score: 5

Explanation: The document is a factual report of an insider's share disposition via gift. This event is neutral from a company performance or operational perspective, although it does reduce direct insider ownership.

Positives

• The filing demonstrates transparency in insider shareholdings, adhering to SEC disclosure requirements.
• The transaction represents a philanthropic act by the company's CEO and Executive Chairman.

Negatives

• The transaction results in a reduction of 1,000,000 shares from the direct beneficial ownership of a key insider, although it was a gift and not a sale.

Future Outlook

Not applicable. This document is a report of an insider transaction and does not contain forward-looking statements or guidance regarding the company's future performance.

Management Comments

• The filing is signed by Michael D. Farkas, confirming the accuracy of the reported transaction.

Industry Context

This document is a standard SEC Form 4 filing, which is a mandatory disclosure for insiders reporting changes in their beneficial ownership of company securities. Such filings are common across all publicly traded companies and do not inherently reflect broader industry trends or competitive dynamics.

Stakeholder Impact

• Shareholders: The transaction reduces the direct ownership stake of a key insider, which could be viewed neutrally or slightly negatively depending on individual investor interpretation, despite being a gift. However, Mr. Farkas retains substantial beneficial ownership and control over a significant portion of shares held indirectly.
• Employees, Customers, Suppliers, Creditors: No direct or material impact on these stakeholders is indicated by this filing.

Key Dates

Keywords

NEXTNRG, NXXT, Michael D. Farkas, Form 4, insider transaction, beneficial ownership, common stock, gift, CEO, executive chairman, director, 10% owner