Form 4: Energy Vault CEO Sells Shares for Tax Obligations

Energy Vault Holdings CEO Robert Piconi disposed of 91,374 common shares to cover tax liabilities related to restricted stock unit vesting.

Summary

• Robert Piconi, CEO, Director, and 10% Owner of Energy Vault Holdings, Inc. (NRGV), reported a transaction on January 22, 2026.
• The transaction involved the disposition of 91,374 shares of common stock at a price of $4.61 per share.
• This disposition was classified with transaction code 'F', indicating shares were withheld by the Issuer to satisfy the reporting person's tax liability on the vesting of restricted stock units.
• Following this transaction, Robert Piconi directly beneficially owns 20,083,137 shares of common stock.
• Additionally, Piconi 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 both of which he serves as investment advisor.

Sentiment

Score: 5

Explanation: The sentiment is neutral as this is a routine, non-discretionary transaction for tax purposes related to executive compensation, rather than a discretionary sale or purchase reflecting a change in management's outlook on the company.

Positives

• The transaction represents the vesting of restricted stock units, indicating that previously granted equity compensation to a key executive is maturing.
• The CEO continues to hold a substantial direct and indirect beneficial ownership in the company, totaling over 28 million shares, demonstrating continued alignment with shareholder interests.

Negatives

• The disposition of shares, even for tax purposes, results in a reduction of the CEO's direct equity stake in the company.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This is a routine insider transaction related to executive compensation and tax obligations, and as such, it does not directly reflect broader industry trends or competitive positioning.

Related Party Transactions

• Robert Piconi indirectly beneficially owns shares through the Piconi 2021 Delaware Trust and the Piconi Family 2021 Delaware Trust, for which he serves as investment advisor. These are related entities through which he holds a significant portion of his beneficial ownership.

Stakeholder Impact

• Shareholders: Minimal direct impact as this is a routine tax-related transaction, not a discretionary sale indicating a lack of confidence. The CEO retains substantial ownership.
• Employees: No direct impact mentioned.

Key Dates

Keywords

Energy Vault, NRGV, Form 4, Insider Transaction, CEO, Stock Sale, Tax Liability, Restricted Stock Units, Equity Compensation