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

Energy Vault's CEO, Robert Piconi, sold 9,697 shares of common stock to cover tax liabilities related to vesting restricted stock units.

Summary

• Energy Vault's CEO, Robert Piconi, sold 9,697 shares of common stock on December 13, 2024, at a price of $1.8297 per share.
• The sale was executed to cover the tax obligations arising from the vesting of restricted stock units.
• Following the transaction, Piconi directly owns 17,613,664 shares of common stock.
• Piconi also indirectly 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 document reflects a routine transaction for tax purposes, with no indication of positive or negative sentiment.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations are a common practice across various industries.
• Many companies use restricted stock units as part of their compensation packages, leading to similar tax-related sales by executives.
• The sale by Robert Piconi is consistent with standard practices for executives managing their personal finances and tax liabilities.

Stakeholder Impact

• The sale of shares by the CEO may have a minor impact on the stock price, but it is not expected to be significant.

Key Dates

Keywords

Energy Vault, Robert Piconi, stock sale, insider trading, Form 4, tax liability, restricted stock units