Form 4: Energy Vault CEO Sells Shares to Cover Tax Liability on Vesting Restricted Stock Units

Energy Vault Holdings, Inc. CEO Robert Piconi sold 9,326 shares of common stock on June 6, 2025, at $0.975 per share to cover tax obligations related to the vesting of restricted stock units.

Summary

• Robert Piconi, Chief Executive Officer, Director, and 10% Owner of Energy Vault Holdings, Inc. (NRGV), reported a transaction on June 6, 2025.
• The transaction involved the sale of 9,326 shares of common stock at a price of $0.975 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 beneficially owns 20,044,661 shares of common stock.
• Additionally, he 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: The transaction is a routine 'sell to cover' for tax purposes upon RSU vesting, which is generally considered neutral and not indicative of management's sentiment towards the company's future prospects.

Positives

• The vesting of restricted stock units (RSUs) indicates continued compensation and retention of a key executive, Robert Piconi, aligning his interests with long-term company performance.

Negatives

• The sale of shares, while for tax purposes, represents a reduction in the CEO's direct holdings, though it is a small fraction of his total beneficial ownership.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Management Comments

• Robert Piconi's sale of 9,326 shares was explicitly made to satisfy his tax liability on the vesting of restricted stock units.

Industry Context

This filing is an individual insider transaction report and does not provide information relevant to broader industry trends or competitive landscape analysis.

Related Party Transactions

• The reporting person's indirect beneficial ownership includes shares held by the Piconi 2021 Delaware Trust and the Piconi Family 2021 Delaware Trust, for which the reporting person serves as investment advisor.

Stakeholder Impact

• Shareholders: Minimal impact as the sale is a small, routine transaction for tax purposes and does not reflect a change in the CEO's overall confidence or a significant reduction in his substantial holdings.

Key Dates

Recommendation

Keywords

Energy Vault Holdings, NRGV, Form 4, insider transaction, stock sale, Robert Piconi, CEO, restricted stock units, tax liability, beneficial ownership