Form 4: Energy Vault Holdings Chief Engineering Officer Sells Shares to Cover Tax Obligations

Akshay Ladwa, Chief Engineering Officer of Energy Vault Holdings, sold 23,557 shares of common stock to cover tax liabilities related to vesting restricted stock units.

Summary

• Akshay Ladwa, the Chief Engineering Officer of Energy Vault Holdings, sold 23,557 shares of common stock on December 13, 2024.
• The sale was executed at a price of $1.8297 per share.
• This transaction was conducted to satisfy tax obligations arising from the vesting of restricted stock units.
• Following the sale, Ladwa directly owns 1,462,364 shares of Energy Vault Holdings common stock.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes, with no indication of positive or negative sentiment.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.

Comparison to Industry Standards

• Sales of shares by executives to cover tax liabilities are a common practice across publicly traded companies.
• The number of shares sold is relatively small compared to the total shares owned by the executive, suggesting this is a routine tax-related transaction rather than a significant change in the executive's investment position.
• Similar transactions are regularly reported by executives at other companies in the technology and energy sectors.

Stakeholder Impact

• The sale of shares by the Chief Engineering Officer is unlikely to have a significant impact on shareholders, employees, customers, suppliers, or creditors.

Key Dates

Keywords

Energy Vault Holdings, Akshay Ladwa, stock sale, insider trading, Form 4, restricted stock units, tax liability, chief engineering officer