Form 4: Energy Vault Chief Engineering Officer Sells Shares for Tax Liability

Energy Vault Holdings, Inc.'s Chief Engineering Officer, Akshay Ladwa, sold 15,046 shares of common stock on July 18, 2025, to cover tax obligations related to restricted stock unit vesting.

Summary

• Akshay Ladwa, Chief Engineering Officer of Energy Vault Holdings, Inc. (NRGV), reported a transaction on July 18, 2025.
• The transaction involved the disposition of 15,046 shares of common stock.
• The shares were sold at a price of $0.8105 per share.
• The sale was conducted to satisfy the reporting person's tax liability arising from the vesting of restricted stock units.
• Following this transaction, Akshay Ladwa beneficially owns 2,181,042 shares of common stock.
• The transaction was made pursuant to a Rule 10b5-1(c) plan, indicating it was a pre-arranged and non-discretionary sale.

Sentiment

Score: 5

Explanation: The transaction is a routine 'sell to cover' for tax purposes, which is neutral in sentiment. It does not indicate a lack of confidence by the officer, nor does it represent a new investment.

Positives

• The transaction was executed under a pre-arranged Rule 10b5-1(c) plan, indicating a planned and non-discretionary sale rather than a discretionary decision to sell.
• The sale was explicitly for satisfying tax liability on the vesting of restricted stock units, which is a routine and expected part of executive compensation.

Negatives

• A reduction in direct beneficial ownership by a key officer, even if for tax purposes, slightly decreases insider alignment.

Future Outlook

No forward-looking statements or guidance are provided.

Industry Context

This is a routine insider transaction for tax purposes and does not provide significant insight into broader industry trends or competitive dynamics within the energy storage sector. It reflects standard compensation practices.

Comparison to Industry Standards

• This is a standard 'sell to cover' transaction, a common practice across all industries for executives receiving equity compensation.
• It does not reflect a discretionary investment decision by the officer and therefore does not provide a basis for comparison to specific company or project performance benchmarks within the energy storage industry or against competitors like Tesla Energy, Fluence, or Stem Inc.

Stakeholder Impact

• Minimal direct impact on shareholders as it is a small, non-discretionary sale for tax purposes.
• No direct impact on employees, customers, suppliers, or creditors.

Key Dates

Recommendation

Keywords

Energy Vault Holdings, NRGV, SEC Form 4, Insider Trading, Stock Sale, Restricted Stock Units, Tax Liability, Akshay Ladwa, Chief Engineering Officer, 10b5-1 Plan