Form 4: Energy Vault Director Larry Paulson Awarded RSUs

Energy Vault Holdings, Inc. Director Larry Paulson received an award of 161,132 restricted stock units (RSUs) on September 16, 2025.

Summary

• Larry Paulson, a Director of Energy Vault Holdings, Inc. (NRGV), was awarded 161,132 restricted stock units (RSUs).
• The transaction occurred on September 16, 2025.
• Each RSU represents a contingent right to receive one share of Common Stock.
• The RSUs will vest after the first anniversary of May 30, 2025, contingent on Mr. Paulson's continued service on the Board.
• Following this transaction, Mr. Paulson directly owns 496,768 shares and indirectly owns 609,256 shares through the Larry M and Gretchen V Paulson Family Trust.

Sentiment

Score: 6

Explanation: The filing reports a standard equity award to a director, which is a neutral to slightly positive event as it aligns interests. No negative financial implications are present.

Positives

• Award of restricted stock units aligns the director's interests with long-term shareholder value.
• The equity award indicates continued commitment to the director's role within the company.

Negatives

• No immediate cash inflow for the director from this specific transaction as it is an RSU award at a $0 price.

Risks

• Vesting of the RSUs is subject to the reporting person's continued service on the Board, meaning the award could be forfeited if service ceases before vesting.
• The value of the RSUs upon vesting is dependent on the future market price of Energy Vault Holdings, Inc. common stock, introducing market risk.

Future Outlook

The restricted stock units are scheduled to vest after the first anniversary of May 30, 2025, contingent on the director's continued service on the Board.

Industry Context

This is a routine equity compensation award for a director, a common practice across various industries to align management and board interests with shareholder value. Companies in the energy storage sector, like Energy Vault, frequently use such incentives to retain key personnel and encourage long-term commitment.

Comparison to Industry Standards

• The practice of awarding restricted stock units (RSUs) to directors is a standard compensation mechanism in publicly traded companies, including those in the energy storage sector.
• The vesting schedule, typically over one to several years, is also common, designed to incentivize long-term commitment and performance.
• Comparable companies in the renewable energy or energy storage sector, such as Fluence Energy (FLNC) or Stem Inc. (STEM), frequently utilize similar equity-based compensation plans for their board members and executives.

Related Party Transactions

• The indirect ownership of 609,256 shares by the Larry M and Gretchen V Paulson Family Trust, where Mr. Paulson is a trustee, constitutes a related party holding, though the transaction itself is an RSU award to Mr. Paulson directly.

Stakeholder Impact

• Shareholders: The award aligns the director's interests with long-term shareholder value. Dilution from RSU vesting is a standard consideration for equity compensation.
• Employees: No direct impact on employees mentioned.

Next Steps

• Continued service of Larry Paulson on the Board of Directors for the RSUs to vest.
• Vesting of the 161,132 RSUs after May 30, 2026.

Key Dates

Keywords

Energy Vault Holdings, NRGV, Larry Paulson, Restricted Stock Units, RSU, Director Compensation, Equity Award, Insider Transaction, Form 4