Form 4: Energy Vault CEO Piconi Boosts Stake with Open Market Purchase

Energy Vault Holdings CEO Robert Piconi increased his direct beneficial ownership by purchasing 10,000 shares of common stock on the open market.

Summary

• CEO Robert Piconi reported transactions in Energy Vault Holdings, Inc. common stock.
• On November 13, 2025, 2,642 shares were disposed of at $3.54 to satisfy tax liabilities related to restricted stock unit vesting.
• On November 14, 2025, Piconi purchased 10,000 shares on the open market at a weighted average price of $2.9958 per share, with prices ranging from $2.995 to $3.
• Following these transactions, Piconi directly owns 20,207,242 shares and indirectly owns 8,615,892 shares through two family trusts.

Sentiment

Score: 7

Explanation: The sentiment is positive due to the CEO's open market purchase, indicating confidence in the company's stock. The tax-related disposition is a routine event and does not significantly detract from the positive signal of the purchase.

Positives

• CEO Robert Piconi made an open market purchase of 10,000 shares, indicating confidence in the company's future.
• The purchase price of $2.9958 is below the price at which shares were withheld for tax ($3.54), suggesting Piconi sees value at the current market price.

Negatives

• A portion of shares (2,642) were disposed of to cover tax liabilities, which is a common occurrence but still a reduction in direct ownership.

Future Outlook

NA

Industry Context

This filing reflects an individual insider's transaction and does not directly provide broader industry context. However, insider buying can be a signal of management's perception of value within the energy storage and grid infrastructure sector, where Energy Vault operates.

Related Party Transactions

• Indirect beneficial ownership of 8,615,892 shares through Piconi 2021 Delaware Trust and Piconi Family 2021 Delaware Trust, for which the Reporting Person serves as investment advisor.

Stakeholder Impact

• Shareholders may view the CEO's open market purchase as a positive signal of management's belief in the company's future performance and valuation.
• The increase in direct beneficial ownership by a key executive aligns management's interests more closely with those of public shareholders.

Key Dates

Recommendation

The CEO's decision to purchase a significant number of shares on the open market, even after a tax-related disposition, suggests a strong belief in the company's intrinsic value and future growth potential. This insider buying activity, especially from a key executive like the CEO, often signals to the market that the stock is undervalued or poised for positive developments, making it a compelling 'buy' signal for investors.

Keywords

Energy Vault Holdings, NRGV, Robert Piconi, Insider Trading, Form 4, Stock Purchase, CEO, Beneficial Ownership, Restricted Stock Units, Tax Withholding