Form 4: Energy Vault CEO Sells Shares to Cover Tax Liability

Energy Vault Holdings, Inc. CEO Robert Piconi sold 12,135 shares of common stock at $0.8105 per share to satisfy tax obligations related to restricted stock unit vesting.

Summary

• Robert Piconi, who serves as Chief Executive Officer, Director, and a 10% Owner of Energy Vault Holdings, Inc. (NRGV), reported a sale of common stock.
• On July 18, 2025, 12,135 shares of common stock were sold at a price of $0.8105 per share.
• The purpose of this sale was to satisfy the reporting person's tax liability incurred from the vesting of restricted stock units.
• Following this transaction, Robert Piconi directly holds 20,032,526 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 acts as investment advisor.

Sentiment

Score: 5

Explanation: The transaction is a routine sale to cover tax liabilities on vested equity, which is a neutral event. It does not reflect a discretionary decision to sell shares based on company performance or outlook.

Negatives

• The transaction represents a reduction in direct share ownership by a key insider, although it was not a discretionary sale.

Future Outlook

NA

Industry Context

This Form 4 filing is a routine disclosure of an insider stock transaction, specifically a sale to cover tax obligations related to equity compensation. It does not provide broader industry context or trends.

Comparison to Industry Standards

• This is a standard insider transaction disclosure. Sales to cover tax liabilities on vested equity awards are common practice across industries and are not typically indicative of a change in management's long-term outlook on the company, unlike discretionary sales.

Related Party Transactions

• 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.

Stakeholder Impact

• The sale of a relatively small number of shares to cover tax liabilities is a routine event and is unlikely to have a significant direct impact on shareholders, employees, customers, suppliers, or creditors. It is a standard part of executive compensation management.

Key Dates

Recommendation

Keywords

Energy Vault Holdings, NRGV, Robert Piconi, SEC Form 4, Insider Trading, Stock Sale, Tax Liability, Restricted Stock Units, CEO, Director, 10% Owner