Form 4: William Gross Reports Acquisition of Energy Vault Holdings Shares Following Debt Default

William Gross, a director at Energy Vault Holdings, reported acquiring 130,000 shares of common stock on March 13, 2024, due to a debt default.

Summary

• On March 13, 2024, William Gross, a director of Energy Vault Holdings, Inc., acquired 130,000 shares of common stock at a price of $1.65 per share.
• This acquisition was incident to a default on a previously contracted debt.
• Following the transaction, Mr. Gross directly owns 85,751 shares and indirectly owns 6,287,355 shares through various entities including Idealab Holdings, LLC, Gross Goodstein Living Trust, Idealab Studio, LLC, and as UTMA custodian for a child.
• Mr. Gross disclaims beneficial ownership of shares held by his spouse as UTMA custodian for a child and by Idealab Holdings, LLC, Gross Goodstein Living Trust, and Idealab Studio, LLC except to the extent of his pecuniary interest therein.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing simply reports a transaction due to a debt default. It doesn't inherently indicate positive or negative sentiment about the company's future.

Industry Context

This filing reflects insider activity related to Energy Vault Holdings, a company in the energy storage sector. Monitoring insider transactions can provide insights into management's perspective on the company's prospects.

Key Dates