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

Energy Vault Holdings' Chief Engineering Officer, Akshay Ladwa, sold 4,762 shares of common stock to cover tax liabilities related to vesting restricted stock units.

Summary

• Akshay Ladwa, Chief Engineering Officer at Energy Vault Holdings, sold 4,762 shares of common stock on January 10, 2025.
• The sale was executed at a price of $1.9568 per share.
• This transaction was to cover tax obligations arising from the vesting of restricted stock units.
• Following the transaction, Mr. Ladwa beneficially owns 1,457,602 shares of Energy Vault Holdings common stock.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction related to executive compensation and tax obligations. It is neither positive nor negative for the company's outlook.

Industry Context

This is a routine transaction related to executive compensation and tax obligations, common in publicly traded companies. It does not indicate any specific trend in the energy storage industry.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations are a common practice across various industries, including technology and energy.
• Similar transactions are frequently seen in filings of companies like Tesla, SunPower, and other publicly listed firms with stock-based compensation plans.
• The volume of shares sold is relatively small compared to the total holdings of the executive, which is typical for tax-related sales.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a small sale by an executive to cover tax obligations.
• There is no direct impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

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