Form 4: Energy Vault Holdings CEO Robert Piconi Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Energy Vault Holdings CEO Robert Piconi sold 8,855 shares of common stock on March 19, 2024, to cover tax liabilities related to vesting restricted stock units.
Summary
- On March 19, 2024, Robert Piconi, CEO of Energy Vault Holdings, sold 8,855 shares of common stock at a price of $1.634 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 14,101,994 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 sentiment is neutral as the transaction is a routine sale to cover tax obligations and doesn't necessarily reflect a change in the CEO's confidence in the company.
Industry Context
Insider transactions are routinely monitored and reported to the SEC. Sales to cover tax obligations are common and don't necessarily indicate a negative outlook on the company.
Stakeholder Impact
- The sale of shares could have a minor impact on shareholders due to the slight dilution of shares.
Key Dates
| Date | Description |
|---|---|
| 03/19/2024 | Date of transaction: Robert Piconi sold shares of common stock. |
| 03/20/2024 | Date of signature by Attorney-in-Fact. |
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