Form 4: Hanwha Aerospace Boosts NextDecade Stake

Hanwha Aerospace Co., Ltd., a 10% owner and director, significantly increased its direct beneficial ownership in NextDecade Corp by acquiring over 1 million shares of common stock in late September 2025.

Summary

• Hanwha Aerospace Co., Ltd. acquired 551,819 shares of NextDecade Corp common stock on September 23, 2025, at a weighted average price of $6.9856 per share, with prices ranging from $6.8100 to $7.1550.
• An additional 449,510 shares of NextDecade Corp common stock were acquired on September 24, 2025, at a weighted average price of $7.0193 per share, with prices ranging from $6.8200 to $7.2200.
• These transactions resulted in a total direct beneficial ownership of 18,537,697 shares of NextDecade Corp common stock following the September 24, 2025, acquisition.
• Hanwha Aerospace Co., Ltd. also indirectly holds 17,536,369 shares through Hanwha Ocean LLC, and may be deemed to beneficially own these securities.
• The acquisitions were made pursuant to a Rule 10b5-1(c) pre-arranged trading plan.

Sentiment

Score: 8

Explanation: The acquisition of over 1 million shares by a 10% owner and director, Hanwha Aerospace Co., Ltd., signals strong confidence in NextDecade Corp's prospects. Insider buying, especially by a significant strategic investor, is generally viewed as a positive indicator for the company's future performance.

Positives

• A significant 10% owner and director, Hanwha Aerospace Co., Ltd., increased its direct stake in NextDecade Corp by over 1 million shares, signaling confidence in the company's future prospects.
• The acquisitions were executed under a Rule 10b5-1(c) plan, indicating a pre-planned and strategic investment approach rather than opportunistic trading.

Risks

• Hanwha Aerospace Co., Ltd. disclaims beneficial ownership of the reported securities, except to the extent of its pecuniary interest therein.
• The reporting person may be deemed a member of a 'group' (as such term is used in Section 13(d) of the Exchange Act) that beneficially owns more than 10% of the outstanding shares of Common Stock, but the reporting person disclaims membership in any such group.

Future Outlook

The acquisitions were made pursuant to a Rule 10b5-1(c) plan, indicating a pre-arranged strategy for the purchase of equity securities. This suggests a deliberate, long-term investment perspective from the reporting person, potentially signaling confidence in NextDecade Corp's future trajectory.

Management Comments

• Jaeil Son, Chief Executive Officer of Hanwha Aerospace Co., Ltd., signed the filing on behalf of the reporting person.

Industry Context

Hanwha Aerospace Co., Ltd.'s increased investment in NextDecade Corp, a company involved in the LNG sector, highlights continued strategic interest and potential confidence in the future of natural gas and energy infrastructure. This could reflect broader industry trends towards securing energy supply or expanding into new energy markets, particularly given Hanwha's diverse business interests.

Corporate Governance

Related Party Transactions

• Hanwha Aerospace Co., Ltd. may be deemed to beneficially own 17,536,369 shares held directly by Hanwha Ocean LLC, indicating an indirect beneficial interest through a related entity.

Stakeholder Impact

• Shareholders may view the increased stake by a significant owner and director as a vote of confidence, potentially leading to positive sentiment and increased investor interest in NextDecade Corp.
• The continued investment by Hanwha Aerospace Co., Ltd. could strengthen strategic alignment and potentially influence future corporate decisions or strategic direction at NextDecade Corp.

Key Dates

Recommendation

The significant increase in direct beneficial ownership by Hanwha Aerospace Co., Ltd., a 10% owner and director, through open market purchases, is a strong positive signal. Insider buying, particularly by a strategic investor with deep knowledge of the company and industry, often indicates management's belief that the stock is undervalued or that future prospects are strong. The execution under a 10b5-1 plan further suggests a deliberate, long-term investment strategy, making NextDecade Corp a compelling 'buy' for investors.

Keywords

NextDecade, Hanwha Aerospace, NEXT, Stock Purchase, Insider Buying, Form 4, 10% Owner, LNG, Energy Investment, Beneficial Ownership