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

Energy Vault Holdings CEO Robert Piconi sold 9,694 shares of common stock at $1.164 per share on June 7, 2024, to cover tax liabilities related to vesting restricted stock units.

Summary

• On June 7, 2024, Robert Piconi, CEO of Energy Vault Holdings, sold 9,694 shares of common stock at a price of $1.164 per share.
• The sale was executed to satisfy the reporting person's tax liability on the vesting of restricted stock units.
• Following the transaction, Piconi directly owns 17,189,617 shares of Energy Vault Holdings.
• 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 is a standard regulatory filing related to a share sale for tax purposes. It doesn't inherently indicate positive or negative sentiment about the company's performance.

Industry Context

Form 4 filings are standard practice for corporate insiders and are publicly disclosed to ensure transparency in trading activities. This sale appears to be related to tax obligations, which is a common reason for such transactions.

Stakeholder Impact

• The sale of shares by the CEO could have a minor impact on shareholders, potentially causing a slight decrease in share price due to the increased supply, but the impact is likely minimal given the relatively small number of shares sold.

Key Dates