Form 4: NEXGEL CEO Adam R. Levy Sells Shares for Tax Planning Purposes

NEXGEL, Inc. CEO and Director Adam R. Levy reported the sale of 4,000 shares of common stock in two separate open market transactions for tax planning purposes.

Summary

• Adam R. Levy, Chief Executive Officer and Director of NEXGEL, Inc. (NXGL), reported the sale of common stock.
• On June 9, 2025, Mr. Levy sold 2,000 shares of common stock at a weighted average price of $2.3295 per share, with prices ranging from $2.3200 to $2.3390.
• On June 11, 2025, Mr. Levy sold an additional 2,000 shares of common stock at a price of $2.3900 per share.
• The total number of shares sold across both transactions is 4,000.
• Following these transactions, Mr. Levy beneficially owns 362,284 shares of NEXGEL common stock.
• The sales were stated to be for tax planning purposes, with the shares originally acquired on October 15, 2019.

Sentiment

Score: 4

Explanation: The sentiment is slightly negative due to insider selling, which can be perceived as a lack of confidence or a move to diversify, despite the stated reason of tax planning. However, the relatively small volume of shares sold compared to total holdings mitigates a stronger negative score.

Negatives

• The Chief Executive Officer and Director, Adam R. Levy, reduced his direct beneficial ownership in the company by 4,000 shares through open market sales.

Risks

• Insider selling, even for stated tax planning purposes, can sometimes be perceived negatively by the market and may lead to questions about management's confidence or future outlook, potentially impacting investor sentiment.

Management Comments

• The Reporting Person sold these shares for tax planning purposes.
• The Reporting Person undertakes to provide full information regarding the number of shares sold at each separate price sold if requested by the Securities and Exchange Commission Staff, the Issuer or a security holder of the Issuer.

Stakeholder Impact

• Shareholders may view the insider selling as a negative signal, potentially impacting investor confidence and the company's stock price.

Key Dates

Recommendation

Keywords

NEXGEL, NXGL, Adam R. Levy, Insider Sale, Form 4, Beneficial Ownership, Stock Transaction, CEO, Director