# EDGAR Filing Document

**Accession Number:** 0000788611
**File Stem:** 0001641172-25-019642
**Filing Date:** 2025-7
**Character Count:** 23753
**Document Hash:** 2fb3e09dd0bb586fadb9cbf7dbea4ba3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001641172-25-019642.hdr.sgml**: 20250715

**ACCESSION NUMBER**: 0001641172-25-019642

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20250714

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250715

**DATE AS OF CHANGE**: 20250715

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NextTrip, Inc.
- **CENTRAL INDEX KEY:** 0000788611
- **STANDARD INDUSTRIAL CLASSIFICATION:** TRANSPORTATION SERVICES [4700]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 820404220
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 0228

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38015
- **FILM NUMBER:** 251123271

**BUSINESS ADDRESS:**
- **STREET 1:** 3900 PASEO DEL SOL
- **CITY:** SANTE FE
- **STATE:** NM
- **ZIP:** 87507
- **BUSINESS PHONE:** (954) 526-9688

**MAIL ADDRESS:**
- **STREET 1:** 3900 PASEO DEL SOL
- **CITY:** SANTE FE
- **STATE:** NM
- **ZIP:** 87507

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SIGMA ADDITIVE SOLUTIONS, INC.
- **DATE OF NAME CHANGE:** 20220812

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SIGMA LABS, INC.
- **DATE OF NAME CHANGE:** 20101014

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FRAMEWAVES INC
- **DATE OF NAME CHANGE:** 20010130

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): July 14, 2025**

**NextTrip, Inc.**

**(Exact name of Registrant as Specified in Its Charter)**

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| | | |
|:---|:---|:---|
| **Nevada** | **001-38015** | **27-1865814** |
| **(State or Other Jurisdiction**<br> **of Incorporation)** | **(Commission**<br> **File Number)** | **(IRS Employer**<br> **Identification No.)** |

---

---

| | |
|:---|:---|
| **3900 Paseo del Sol**<br> **Santa Fe, New Mexico** | **87507** |
| **(Address of Principal Executive Offices)** | **(Zip Code)** |

---

**Registrant's Telephone Number, Including Area Code: (505) 438-2576**

**(Former Name or Former Address, if Changed Since Last Report)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

**Securities registered pursuant to Section 12(b) of the Act:**

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock, par value $0.001 per share | NTRP | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**

*<u>Increase in Board Size and Director Appointments</u>*

 

On July 14, 2025, the board of directors (the "Board") of NextTrip, Inc. (the "Company") adopted a resolution to increase the size of the Board from five to seven members, in accordance with Article III, Section 1 of the Company's Amended and Restated Bylaws, as amended.

Additionally, on July 14, 2025, the Board appointed Willian Kerby, the Company's Chief Executive Officer, and Andy Kaplan as directors to fill the two newly created vacancies, in each case effective July 17, 2025. Mr. Kerby shall serve as a Class II director of the Company, with his initial term expiring at the Company's 2026 Annual Meeting of Stockholders, and Mr. Kaplan shall serve as a Class III director, with his initial term expiring at the Company's 2027 Annual Meeting of Stockholders. Each of Messrs. Kerby and Kaplan will serve as a director for the balance of their respective initial terms, and until his successor is elected and qualified, subject to his earlier death, resignation or removal. Additionally, effective July 17, 2025, the Board appointed Mr. Kaplan to serve as a member of the Nominations & Governance Committee of the Board.

There is no arrangement or understanding between Messrs. Kerby or Kaplan and any other person pursuant to which either Messrs. Kerby or Kaplan were selected as directors of the Company. There are no family relationships between either of Messrs. Kerby or Kaplan and any of the Company's directors, executive officers or persons nominated or chosen by the Company to become a director or executive officer.

As noted above, Mr. Kerby serves as the Company's Chief Executive Officer. Mr. Kerby is entitled to receive compensation for his services as Chief Executive Officer pursuant to that employment letter agreement entered into by and between the Company and Mr. Kerby on December 29, 2023; Mr. Kerby will not be entitled to receive additional compensation for his service on the Board. Other than those related party transactions by and between the Company and Mr. Kerby that are disclosed in Part III, Item 13 of the Company's Annual Report on Form 10-K for the fiscal year ended February 28, 2025, filed with the Securities and Exchange Commission (the "Commission") on May 29, 2025, which information is incorporated herein by reference, Mr. Kerby has no direct or indirect material interest in any existing or currently proposed transaction that would require disclosure under Item 404(a) of Regulation S-K under the Securities Exchange Act of 1934, as amended (the "Exchange Act").

Mr. Kaplan will be entitled to receive compensation in accordance with the Company's non-employee director compensation program for his services as a director of the Company. Other than in accordance the Company's compensation program for its non-employee directors, there are no plans, contracts or arrangements, or amendments to any plans, contracts or arrangements, entered into with Mr. Kaplan in connection with his appointment to the Board, nor were there any equity grants or awards made to Mr. Kaplan in connection therewith. Mr. Kaplan has no direct or indirect material interest in any existing or currently proposed transaction that would require disclosure under item 404(a) of Regulation S-K under the Exchange Act.

*<u>NTH Designee Board Appointments</u>*

As previously disclosed in the Company's filings with the Commission, on October 23, 2023, the Company (then known as Sigma) entered into a Share Exchange Agreement (the "Exchange Agreement") with NextTrip Holdings, Inc. ("NTH"), NextTrip Group, LLC, and William Kerby (the "NTH Representative"), pursuant to which the Company acquired NTH (the "NextTrip Acquisition") in exchange for shares of Company common stock. The NextTrip Acquisition was consummated on December 29, 2023; as a result, NTH became a wholly owned subsidiary of the Company.

As further previously disclosed in the Company's filings with the Commission, pursuant to the Exchange Agreement, the NTH Representative (Mr. Kerby) shall be entitled to designate a replacement for one director of the Company upon achievement of each of the milestones set forth in the Exchange Agreement (the "Board Appointment Rights"). All milestones set forth in the Exchange Agreement were achieved on or before May 5, 2025.

In July 2025, Mr. Kerby, in his capacity as the NTH Representative, informed the Company of his election to exercise the Board Appointment Rights pursuant to the Exchange Agreement and designated Stephen Kircher, Jimmy Byrd, Carmen Diges and David Jiang (collectively, the "NTH Appointees") as the individuals to replace the continuing legacy Sigma directors. On July 14, 2025, the Board appointed the NTH Appointees as directors of the Company, in each case effective July 28, 2025, at which time Salvatore Battinelli, Jacob Brunsberg, Dennis Duitch and Kent Summers will resign as directors of the Company.

Stephen Kircher shall serve as a Class I director, with his initial term expiring at the Company's 2028 Annual Meeting of Stockholders; Jimmy Byrd shall serve as a Class II director, with his initial term expiring at the Company's 2026 Annual Meeting of Stockholders; and Ms. Diges and Mr. Jiang shall each serve as a Class III director, with their initial terms expiring at the Company's 2027 Annual Meeting of Stockholders. Each of NTH Appointees will serve as a director for the balance of their respective initial terms, and until his or her successor is elected and qualified, subject to his or her earlier death, resignation or removal. Additionally, effective July 28, 2025, the Board appointed the NTH Appointees to serve on the following committees of the Board:

● <u>Audit Committee</u>: Carmen Diges (Chair), Stephen Kircher and Jimmy Byrd

● <u>Compensation Committee</u>: Jimmy Byrd (Chair), Stephen Kircher and Carmen Diges

● <u>Nominations & Governance Committee</u>: David Jiang (Chair) and Carmen Diges

Except for the fact that the NTH Appointees are being appointed to the Board pursuant to NTH's Board Appointment Rights under the Exchange Agreement, there is no arrangement or understanding between any of the NTH Appointees and any other person pursuant to which any such NTH Appointees were designated as an NTH Appointee by the NTH Representative or selected as directors of the Company. There are no family relationships between any of the NTH Appointees and any of the Company's directors, executive officers or persons nominated or chosen by the Company to become a director or executive officer.

Each of the NTH Appointees will be entitled to receive compensation in accordance with the Company's non-employee director compensation program for his or her services as a director of the Company. Other than in accordance the Company's compensation program for its non-employee directors, there are no plans, contracts or arrangements, or amendments to any plans, contracts or arrangements, entered into with any of the NTH Appointees in connection with their appointments to the Board, nor were there any equity grants or awards made to any of the NTH Appointees in connection therewith. None of the NTH Appointees have a direct or indirect material interest in any existing or currently proposed transaction that would require disclosure under item 404(a) of Regulation S-K under the Exchange Act.

**Item 7.01 Regulation FD Disclosure.**

On July 15, 2025, the Company issued a press release announcing the appointment of the NTH Appointees as directors of the Company, effective July 28, 2025. A copy of that press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K (this "Report") and incorporated herein by reference.

The information in Item 7.01 of this Report, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that Section, nor shall it be deemed subject to the requirements of Item 10 of Regulation S-K, nor shall it be deemed incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, regardless of any general incorporation language in such filing. The furnishing of this information hereby shall not be deemed an admission as to the materiality of any such information.

***Forward-Looking Statements***

This Report, including Exhibit 99.1 attached hereto, contains certain forward-looking statements that involve substantial risks and uncertainties. When used herein, the terms "anticipates," "expects," "estimates," "believes," "will" and similar expressions, as they relate to us or our management, are intended to identify such forward-looking statements.

Forward-looking statements in this Report, including Exhibit 99.1 attached hereto, or hereafter, including in other publicly available documents filed with the Commission, reports to the stockholders of the Company and other publicly available statements issued or released by us involve known and unknown risks, uncertainties and other factors which could cause our actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. Such future results are based upon management's best estimates based upon current conditions and the most recent results of operations. Our actual results, performance or achievements may differ materially from those expressed or implied by such forward-looking statements.

**Item 9.01. Financial Statements and Exhibits.**

(d) Exhibits. The following exhibits are filed herewith.

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| | |
|:---|:---|
| **Exhibit**<br> **Number** | **Description** |
| 99.1 | [Press Release, dated July 15, 2025.](ex99-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the inline XBRL Document) |

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
|  | **NEXTTRIP, INC.** | **NEXTTRIP, INC.** |
| Date: July 15, 2025 | By: | */s/ William Kerby* |
|  | Name: | William Kerby |
|  | Title: | Chief Executive Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

![](ex99-1_001.jpg)

**NextTrip to Realign and Strengthen Board of Directors with Appointments of Carmen Diges, David Jiang, Jimmy Byrd, and Steve Kircher** 

*Appointments Add a Diverse Range of Experience Across Global Capital Markets, Corporate Development, Technology, and Media*

**Santa Fe, NM – July 14, 2025 – NextTrip, Inc. (NASDAQ: NTRP) ("NextTrip," "we," "our," or the "Company"),** a technology-forward travel company redefining how people discover, plan, and book travel, today announced the transition and strengthening of its Board of Directors with the appointments of Carmen Diges, David Jiang, Steve Kircher, and Jimmy Byrd. The appointments add a diverse range of experience across global capital markets, corporate development, technology, and media, supporting the Company's strategic execution and long-term growth initiatives.

Carmen, David, Steve and Jimmy are being appointed to the board in accordance with the share exchange agreement entered into with NextTrip Holdings Inc. in December 2023. These appointments mark the final step in the Company's reverse acquisition of the NextTrip business, and come after the successful completion of all change in control and business milestones outlined in the original share exchange agreement. The appointments will take effect on July 28, 2025, at which time Salvatore Battinelli, Jacob Brunsberg, Dennis Duitch and Kent Summers, the continuing Sigma Additive solutions directors, will step down. With this board transition, the Company will be fully aligned under NextTrip's leadership and strategic direction.

Bill Kerby, CEO of NextTrip, and Don Monaco, NextTrip's Chairman of the Board, jointly stated: "We would like to extend our sincere thanks to Salvatore, Jacob, Dennis, and Kent for their support, guidance, and engagement throughout the reverse-acquisition process and for their contributions during the transition period."

"This is a pivotal moment for NextTrip as we accelerate the growth of our travel and content platforms," added Mr. Kerby. "We believe that the addition of Carmen, David, Jimmy, and Steve, strengthens our governance and ensures we are better aligned to pursue value creation, innovation, and global expansion."

**Carmen Diges**

Carmen Diges is a senior capital markets and M&A attorney with deep experience advising multinational companies, funds, and boards on complex transactions and governance matters. She has served in advisory and board roles across sectors, including infrastructure, energy, mining, and technology, and is known for her ability to navigate cross-border transactions and public company responsibilities with precision and integrity.

![](ex99-1_001.jpg)

**David Jiang**

David Jiang's career includes serving as CEO of PineBridge Investments, where he led the post-crisis transformation of AIG's asset management division into an independent firm managing over $75 billion in assets across more than 20 countries. He also held key executive roles at BNY Mellon, including CEO of Asia-Pacific and Global Head of Passive, ETF, and Beta Investing. Earlier in his career, he managed multi-billion-dollar portfolios as a Senior Portfolio Manager at Mellon Capital Management. As an entrepreneur, Mr. Jiang co-founded software and hardware technology companies, and is a holder of multiple patents. As an investor, Mr. Jiang focuses on disruptive technologies in ClimateTech, BioTech, FinTech, and AI. Mr. Jiang is a founding investor in NextTrip and has made multiple direct and indirect investments in the Company.

**Steve Kircher**

Steve Kircher currently serves as Chairman and CEO of Kircher Holdings LLC, a family office with a diverse investment portfolio. Kircher Holdings owns, through Trust, the Frangipani Beach Resort, a boutique hotel in Anguilla, British West Indies, and Borgo San Vincenzo, a boutique hotel in Tuscany, Italy. In addition to his leadership at Kircher Holdings, Mr. Kircher serves as an observer on the Board of Directors of Reviver Corporation (www.reviver.com), the world's first digital license plate and connected vehicle platform company, and as a director on the Board of Directors of Third Home International, a unique membership group for luxury properties around the world. Mr. Kircher's business background includes leading several high-growth companies with successful exits in the public markets.

**Jimmy Byrd**

Jimmy Byrd is the Executive Vice President, Corporate Development at Ledcor Group, a diversified construction company, where he oversees strategic growth initiatives across Canada and the United States. He has a successful track record in infrastructure development, M&A execution, and operations. Mr. Byrd's experience scaling platforms and delivering shareholder value aligns with NextTrip's current expansion strategy.

These appointments follow a series of strategic developments at NextTrip, including new partnerships, targeted travel agency acquisitions, and the anticipated growth in both viewership and available content for its JOURNY travel media brand. The Company continues to build a high-impact leadership team as it positions itself at the dynamic intersection of travel, technology, and content-driven media. Additional information regarding the appointments will be reported in a forthcoming Schedule 14f-1 to be filed by NextTrip with the U.S. Securities and Exchange Commission ("SEC").

**About NextTrip**

NextTrip (NASDAQ: NTRP) is a technology-forward travel company redefining how people discover, plan, and book travel. By combining modern booking tools with immersive media and content, NextTrip offers a comprehensive suite of solutions across cruises, group travel, luxury getaways, and vacation rentals. The Company's innovative platforms, including its FAST (Free Ad-Supported Streaming TV) channels and travel-focused media brands, engage and inspire travelers during the discovery phase, driving informed decisions and seamless bookings. With a growing portfolio of B2C and B2B offerings, NextTrip delivers personalized, end-to-end travel experiences for consumers and strategic value for industry partners. For more information or to book a trip, visit www.nexttrip.com.

![](ex99-1_001.jpg)

**Forward-Looking Statements**

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Statements preceded by, followed by or that otherwise include the words "believe," "anticipate," "estimate," "expect," "intend," "plan," "project," "prospects," "outlook," and similar words or expressions, or future or conditional verbs such as "will," "should," "would," "may," and "could" are generally forward-looking in nature and not historical facts. These forward-looking statements involve known and unknown risks, uncertainties and other factors. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are risks relating to, among other things, the Company's ability to effectively integrate recently acquired businesses and partnered offerings with its own business; the Company's continued development efforts related to its various platforms; changes in the Company's business strategy; market acceptance and use of the Company's platforms; changes in travel, and in particular cruise and group travel, trends; changes in domestic and foreign business, market, financial, political and legal conditions; unanticipated conditions that could adversely affect the Company; the overall level of consumer demand for NextTrip's products/services; general economic conditions and other factors affecting consumer confidence, preferences, and behavior in the travel industry; disruption and volatility in the global currency, capital, and credit markets; the financial strength of NextTrip's customers; NextTrip's ability to raise additional capital to fund its operations; NextTrip's ability to successfully implement its business strategy; stability of consumer demand for NextTrip's products; any breaches of, or interruptions in, NextTrip's information systems; fluctuations in the price, availability and quality of products as well as foreign currency fluctuations; NextTrip's ability to maintain its Nasdaq listing; and changes in tax laws and liabilities, tariffs, legal, regulatory, political and economic risks. The Company disclaims any intention to, and undertakes no obligation to, revise any forward-looking statements, whether as a result of new information, a future event, or otherwise, except as required by applicable law. For additional information regarding risks and uncertainties that could impact NextTrip's forward-looking statements, please see disclosures contained in the Company's Annual Report on Form 10-K for the fiscal year ended February 28, 2025 filed with the SEC on May 29, 2025 and our other filings with the SEC which may be viewed at www.sec.gov.

**Contacts**

Chris Tyson

Executive Vice President

MZ Group - MZ North America

949-491-8235

NTRP@mzgroup.us

<u>www.mzgroup.us</u>