Form 4: Energy Vault CEO Robert Piconi Reports Tax Withholding

Energy Vault CEO Robert Piconi had 329,921 shares withheld to cover tax obligations related to the vesting of restricted stock units.

Summary

• CEO Robert Piconi reported the withholding of 329,921 shares of common stock.
• The transaction occurred on March 31, 2026, at a price of $3.30 per share.
• The withholding was executed to satisfy tax liabilities associated with the vesting of restricted stock units (RSUs).
• Following this transaction, Piconi maintains a beneficial ownership of 16,591,673 shares of Energy Vault Holdings, Inc.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, as it is a routine administrative transaction related to executive compensation rather than a strategic or operational update.

Positives

• The transaction was a mandatory tax withholding event rather than a discretionary market sale, indicating continued long-term alignment with the company.

Negatives

• The transaction reflects a reduction in the total number of shares held by the CEO, albeit for tax purposes.

Risks

• Concentration of ownership risk remains as the CEO holds a significant portion of the company's outstanding equity.

Future Outlook

No forward-looking guidance or strategic outlook was provided in this regulatory filing.

Management Comments

• The filing notes that the transaction represents shares withheld by the Issuer to satisfy the reporting person's tax liability on vesting of restricted stock units and is not a market sale.

Industry Context

StockSavvy.ai notes that tax withholding filings are standard administrative procedures for executives following the vesting of equity compensation and do not typically signal a change in management sentiment regarding company performance.

Comparison to Industry Standards

• The practice of withholding shares to cover tax obligations upon RSU vesting is a standard corporate governance procedure across the energy storage and technology sectors.
• The reporting timeline is consistent with SEC requirements for Section 16 reporting.

Stakeholder Impact

• Minimal impact on shareholders as the transaction was a non-market tax withholding event.

Next Steps

• No future actions or milestones were disclosed in this filing.

Key Dates

Keywords

Energy Vault, NRGV, Insider Trading, Form 4, Robert Piconi, Equity Vesting