Form 4: Energy Vault Director Dylan Hixon Receives RSU Award

Energy Vault Holdings, Inc. Director Dylan Hixon was awarded 98,449 restricted stock units, vesting over three years.

Summary

• Dylan Hixon, a Director of Energy Vault Holdings, Inc. (NRGV), reported a change in beneficial ownership.
• On September 16, 2025, Mr. Hixon acquired 98,449 shares of Common Stock in the form of Restricted Stock Units (RSUs).
• These RSUs were awarded at a price of $0 per share, reflecting an equity grant.
• Each RSU represents a contingent right to receive one share of Common Stock.
• The RSUs are subject to Mr. Hixon's continued service on the Board and will vest after the third anniversary of the Vesting Commencement Date, which is March 31, 2025.
• Following this transaction, Mr. Hixon directly beneficially owns 98,449 shares.
• Additionally, Mr. Hixon indirectly beneficially owns 900,065 shares held by Arden Road Investments LLC, where he is the sole trustee of a trust holding shares in the LLC.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive as it reflects a standard equity award to a director, aligning interests with shareholders, which is generally viewed favorably. There are no negative financial implications or operational issues reported.

Positives

• The award of Restricted Stock Units to a director aligns management's long-term interests with those of shareholders.
• The vesting schedule, tied to continued service, promotes director retention and commitment to the company's long-term performance.

Negatives

• The RSU award, while common, represents potential future dilution for existing shareholders upon vesting and conversion into common stock.

Risks

• The vesting of the 98,449 Restricted Stock Units is contingent upon Dylan Hixon's continued service on the Board of Directors.

Future Outlook

The filing indicates a future vesting event for the awarded Restricted Stock Units, contingent on the director's continued service, which will occur after March 31, 2028 (three years from the Vesting Commencement Date).

Industry Context

Equity awards, such as Restricted Stock Units, are a standard component of executive and director compensation packages across various industries, including the energy storage sector, to incentivize long-term performance and align interests with shareholders.

Comparison to Industry Standards

• The grant of Restricted Stock Units to a director is a common practice in publicly traded companies, including those in the renewable energy and energy storage sectors, to attract and retain qualified board members.
• The vesting schedule tied to continued service is typical for such awards, ensuring commitment over a multi-year period, comparable to practices at companies like Fluence Energy, Inc. or Stem, Inc. in the energy storage space.

Corporate Governance

Related Party Transactions

• Dylan Hixon indirectly beneficially owns 900,065 shares held by Arden Road Investments LLC, where he is the sole trustee of a trust that holds shares in the LLC. He disclaims beneficial ownership except to the extent of his pecuniary interest.

Stakeholder Impact

• Shareholders: The RSU award aligns the director's interests with shareholder value creation over the long term, though it represents potential future dilution.
• Employees: No direct impact on employees mentioned in this filing.
• Customers: No direct impact on customers mentioned in this filing.
• Suppliers: No direct impact on suppliers mentioned in this filing.
• Creditors: No direct impact on creditors mentioned in this filing.

Next Steps

• The Restricted Stock Units will vest after the third anniversary of March 31, 2025, subject to the director's continued service.

Key Dates

Keywords

Energy Vault Holdings, NRGV, Dylan Hixon, Form 4, Restricted Stock Units, RSU award, Director compensation, beneficial ownership, equity grant