Form 4: Nextracker CEO Daniel Shugar Reports Stock Transactions
SEC Form 4 Filing
Daniel Shugar, CEO of Nextracker Inc., reports the vesting and conversion of restricted stock units and subsequent sale of shares to cover tax obligations.
Summary
- On April 1, 2025, Daniel Shugar, CEO of Nextracker Inc., vested and converted 53,191 restricted stock units (RSUs) into common stock.
- On April 2, 2025, 27,114 shares of common stock were sold at $43.09 per share to cover tax withholding obligations related to the RSU vesting.
- Following these transactions, Shugar directly owns 378,293 shares of Nextracker common stock and indirectly owns 143,503 shares through a family trust.
- The sales were mandated by Nextracker's sell-to-cover policy adopted on September 10, 2024, under Rule 10b5-1.
Sentiment
Score: 5
Explanation: This is a neutral event, reflecting routine transactions related to executive compensation and tax obligations.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions, which are common for executives receiving stock-based compensation. It provides transparency into the trading activities of company insiders.
Key Dates
| Date | Description |
|---|---|
| May 10, 2007 | Date of the Kathleen and Daniel Shugar Family Trust |
| April 6, 2022 | Date the Restricted Stock Units were granted to Daniel Shugar |
| September 10, 2024 | Date Nextracker adopted the sell-to-cover policy |
| April 1, 2025 | Date of RSU vesting and conversion to common stock |
| April 2, 2025 | Date of stock sale to cover tax obligations |
| April 3, 2025 | Date of signature for the report |
Keywords
Nextracker, Daniel Shugar, restricted stock units, RSUs, Form 4, insider trading, sell-to-cover, stock, NXT
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