Form 4: Energy Vault CEO's Stock Transaction for Tax Liability

Energy Vault Holdings CEO Robert Piconi reported a transaction involving shares withheld to cover tax obligations on vested restricted stock units.

Summary

• Robert Piconi, Chief Executive Officer, Director, and 10% Owner of Energy Vault Holdings, Inc. (NRGV), reported a transaction on March 5, 2026.
• The transaction involved the disposition of 68,737 shares of Common Stock at a price of $3 per share.
• These shares were withheld by the Issuer to satisfy Piconi's tax liability upon the vesting of restricted stock units.
• Following this transaction, Piconi directly beneficially owns 20,021,900 shares of Common Stock.
• Piconi also indirectly beneficially 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: 5

Explanation: StockSavvy.ai views this as a neutral event, typical for executive compensation and tax compliance, with no direct positive or negative implications for the company's operational or financial performance.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that insider transactions, such as tax-related share withholdings, are common occurrences and typically do not reflect a change in management's long-term view of the company or broader industry trends. This specific transaction is a routine compliance event for equity compensation.

Stakeholder Impact

• Shareholders: Minimal direct impact as this is a routine tax-related transaction for executive compensation.
• Employees: No direct impact on general employees.
• Management: Robert Piconi's beneficial ownership remains substantial, indicating continued alignment with company performance.

Key Dates

Recommendation

This Form 4 details a routine tax-related transaction for an executive's vested restricted stock units. It does not provide new information regarding the company's operational performance, financial health, or strategic direction that would alter an investment thesis. Therefore, a 'hold' recommendation is appropriate as the filing itself does not present a catalyst for a change in investment stance.

Keywords

Energy Vault Holdings, NRGV, Robert Piconi, Form 4, Insider Transaction, Restricted Stock Units, Tax Withholding, CEO, Director, 10% Owner