Howard Wenger, who serves as President and Director of Nextpower Inc. (NASDAQ:NXT), conducted several transactions involving the sale of company common stock in late May 2026. Across two days, specifically May 20 and May 21, 2026, Mr. Wenger sold a total of 140,587 shares of Nextpower's common stock, generating proceeds valued at approximately $17.2 million.
These significant sales were directly linked to the exercise of performance-based stock options. The timing of these transactions occurred while the company's stock was declining by 9.6% over the previous week. However, it is notable that despite this recent dip, the shares had risen by 133% over the course of the past year.
Details of Stock Transactions
On May 20, Mr. Wenger executed a sale of 16,090 shares of Nextpower common stock. The price for these shares was $127.32 per share, resulting in total proceeds estimated at approximately $2,048,578.
This initial transaction on May 20 was completed pursuant to a pre-arranged trading plan known as a 10b5-1 plan, which had been adopted previously on August 18, 2025.
The following day, May 21, saw the sale of an additional 124,497 shares of common stock. These sales were also structured under the same 10b5-1 trading plan. Crucially, these particular shares included amounts necessary to cover both the exercise price and any tax withholding obligations associated with exercising performance-based options.
These multiple transactions on May 21 saw weighted average selling prices ranging between $119.99 and $125.66 per share, with specific reported prices falling within the range of $119.46 to $125.34. The aggregate value derived from these sales on May 21 amounted to approximately $15,149,150.
Prior to executing the final sales, Mr. Wenger had first acquired a substantial block of shares. On May 20, he exercised performance-based stock options, obtaining 124,497 shares of Nextpower common stock at an exercise price of $21 per share. This acquisition totaled approximately $2,614,437.
These specific performance options had vested on April 1, 2026. The vesting required the satisfaction of both a continuous service requirement and certain stipulated Nextpower equity valuation growth conditions. Furthermore, these performance options contained unique limitations, including a restricted exercise period (no later than March 15, 2027) and an established cap on the maximum potential