Form 4: Energy Vault Holdings Executive Marco Terruzzin Sells Shares to Cover Tax Obligations

Marco Terruzzin, Chief Product Officer of Energy Vault Holdings, sold 22,064 shares of common stock on March 18, 2024, to cover tax liabilities related to vesting restricted stock units.

Summary

• On March 18, 2024, Marco Terruzzin, the Chief Product Officer of Energy Vault Holdings, sold 22,064 shares of common stock.
• The sale was executed at a price of $1.642 per share.
• The transaction was conducted to satisfy the reporting person's tax liability on the vesting of restricted stock units.
• Following the transaction, Terruzzin directly owns 1,306,754 shares of Energy Vault Holdings.

Sentiment

Score: 5

Explanation: The document describes a routine transaction (stock sale for tax purposes) with no inherent positive or negative implications for the company's overall outlook.

Industry Context

This is a routine transaction related to executive compensation and tax obligations. It is common for executives to sell shares to cover taxes when restricted stock units vest.

Stakeholder Impact

• The sale of shares by an executive could have a minor, temporary impact on the stock price, but is unlikely to have a significant long-term effect on shareholders.

Key Dates