Form 4: Energy Vault CEO Reports Stock Transaction

Energy Vault Holdings CEO Robert Piconi reported a disposition of 10,400 common shares for tax withholding purposes related to restricted stock unit vesting.

Summary

• Robert Piconi, Chief Executive Officer, Director, and 10% Owner of Energy Vault Holdings, Inc. (NRGV), reported a transaction on September 22, 2025.
• 10,400 shares of common stock were disposed of at a price of $2.02 per share.
• This disposition was a non-discretionary event, representing shares withheld by Energy Vault Holdings, Inc. to cover Robert Piconi's tax liability upon the vesting of restricted stock units.
• Following this transaction, Robert Piconi directly holds 20,199,884 shares of common stock.
• Additionally, Robert Piconi indirectly holds 4,307,946 shares through the Piconi 2021 Delaware Trust and another 4,307,946 shares through the Piconi Family 2021 Delaware Trust, for which he serves as investment advisor.

Sentiment

Score: 5

Explanation: The transaction is a routine tax withholding event associated with the vesting of restricted stock units, not a discretionary sale or purchase, indicating a neutral sentiment.

Positives

• The underlying event of restricted stock unit vesting is a positive for the executive, indicating continued compensation and potential achievement of performance milestones.

Stakeholder Impact

• Shareholders: Minimal impact as this is a routine, non-discretionary transaction for tax purposes, not a sale for personal gain.
• Management: The vesting of restricted stock units is a standard component of executive compensation, aligning management's interests with long-term company performance.

Key Dates

Recommendation

This Form 4 reports a non-discretionary disposition of shares for tax withholding purposes related to restricted stock unit vesting. Such routine transactions typically do not signal a change in the company's fundamentals or the insider's long-term view, thus a 'hold' recommendation is appropriate as there is no new information to warrant a change in investment strategy.

Keywords

Energy Vault, NRGV, Robert Piconi, Form 4, insider transaction, stock ownership, CEO, director, restricted stock units, tax withholding