Form 4: NextTrip Director Converts Preferred Stock to Common

NextTrip, Inc. Director Andrew Jay Kaplan converted 31,250 shares of Series Q Nonvoting Convertible Preferred Stock into common stock following stockholder approval on November 21, 2025.

Summary

• Andrew Jay Kaplan, a Director of NextTrip, Inc. (NTRP), reported a change in beneficial ownership.
• On November 21, 2025, 31,250 shares of Series Q Nonvoting Convertible Preferred Stock were converted into 31,250 shares of Common Stock.
• The conversion occurred upon receipt of stockholder approval, which was obtained on November 19, 2025.
• The shares of Common Stock are indirectly beneficially owned by Mr. Kaplan through the Kaplan Wright Family Trust, which holds 36,250 shares following the transaction.
• An additional 108,400 shares of Common Stock are indirectly beneficially owned by Mr. Kaplan through KC Global Media Asia LLC.
• Mr. Kaplan disclaims beneficial ownership of securities held by KC Global Media Asia LLC and the Kaplan Wright Family Trust in excess of his pecuniary interest.

Sentiment

Score: 5

Explanation: The filing reports a routine, pre-approved conversion of preferred stock to common stock by an insider, which is a neutral event in terms of company performance or outlook.

Positives

• Conversion of preferred stock to common stock can simplify the company's capital structure.
• The transaction was executed following stockholder approval, indicating proper corporate governance.

Risks

• Mr. Kaplan disclaims beneficial ownership of all securities held by KC Global Media Asia LLC and the Kaplan Wright Family Trust in excess of his pecuniary interest, which could imply a nuanced ownership structure.

Future Outlook

NA

Industry Context

This is a routine insider transaction filing (Form 4) and does not provide information relevant to broader industry trends or competitors.

Corporate Governance

Related Party Transactions

• Andrew Jay Kaplan's beneficial ownership includes shares held by the Kaplan Wright Family Trust and KC Global Media Asia LLC, entities with which he has direct affiliations (trustee, chairman).

Stakeholder Impact

• Shareholders: The conversion of preferred stock to common stock may slightly increase the number of outstanding common shares, potentially leading to minor dilution, though this is a planned event.
• Investors: Provides transparency regarding insider holdings and changes in capital structure for a director.

Key Dates

Keywords

NextTrip, NTRP, Andrew Jay Kaplan, Form 4, Insider Transaction, Stock Conversion, Preferred Stock, Common Stock, Beneficial Ownership, Director