---
schema_version: "secwatch.filing_event.v1"
accession: "0000950103-23-009188"
form_type: "8-K"
ticker: "NXT"
cik: "0001852131"
company_name: "Nextpower Inc."
filed_at: "2023-06-23T23:59:59+00:00"
generated_at: "2026-06-13T18:26:26.904731+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Nextracker approves FY2024 LTIP grants for NEOs with RSUs, PSUs, and options

## Summary
- CEO Daniel Shugar receives 142,912 RSUs, 142,912 PSUs (target), and 153,521 options.
- CFO David Bennett receives 63,516 RSUs, 63,516 PSUs (target), and 68,231 options.
- PSU payout ranges 0%-300% based on equally weighted revenue and EBITDA metrics for FY2024.
- Earned PSUs subject to cumulative 3-year relative TSR modifier; cliff vest March 31, 2026.
- RSUs vest 30% on first two anniversaries, 40% on third; options cliff vest on third anniversary.

## SEC filing metadata
- accession: 0000950103-23-009188
- form_type: 8-K
- ticker: NXT
- cik: 0001852131
- company_name: Nextpower Inc.
- filed_at: 2023-06-23T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1852131/000095010323009188/0000950103-23-009188-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1852131/000095010323009188/dp195600_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950103-23-009188
- JSON: https://secwatch.observer/filing/0000950103-23-009188.json
- Plain text: https://secwatch.observer/filing/0000950103-23-009188.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.