Form 4: Energy Vault CEO Robert Piconi Receives 2.5 Million Restricted Stock Units

Energy Vault's CEO, Robert Piconi, was granted 2.5 million restricted stock units (RSUs) on March 24, 2025, according to a recent SEC filing.

Summary

• Robert Piconi, CEO of Energy Vault Holdings, Inc., received 2,500,000 restricted stock units (RSUs) on March 24, 2025.
• These RSUs represent a contingent right to receive shares of Energy Vault's common stock.
• 33.2% of the RSUs will vest on March 31, 2026, with the remaining portion vesting in eight substantially similar quarterly installments thereafter.
• Following this transaction, Piconi directly owns 20,110,858 shares of common stock.
• Piconi also indirectly owns 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: 7

Explanation: The document reflects a standard executive compensation practice, which is generally viewed neutrally to positively as it aligns management interests with shareholders. The vesting schedule promotes long-term commitment.

Positives

• The grant of RSUs to the CEO aligns his interests with those of the shareholders, incentivizing him to improve the company's performance.
• The vesting schedule encourages long-term commitment from the CEO.

Future Outlook

The document does not contain specific forward-looking statements beyond the RSU vesting schedule.

Industry Context

This type of equity compensation is common for CEOs in publicly traded companies to align their interests with shareholders and incentivize long-term growth.

Comparison to Industry Standards

• Equity compensation packages for CEOs in the energy and technology sectors often include a mix of stock options, restricted stock units, and performance-based incentives.
• The vesting schedule of these RSUs, with a portion vesting after one year and the remainder over subsequent quarters, is a fairly standard practice.
• Comparing the total equity compensation value to that of CEOs at similarly sized companies in the energy storage sector (e.g., Fluence, Stem) would provide a more comprehensive assessment.

Stakeholder Impact

• Shareholders: The RSU grant aligns the CEO's interests with those of the shareholders, potentially leading to increased shareholder value.
• Employees: The grant could boost employee morale by demonstrating the company's commitment to its leadership.

Key Dates

Keywords

Energy Vault, Robert Piconi, restricted stock units, RSUs, beneficial ownership, SEC Form 4, stock options, vesting