Akshay Ladwa - 25 May 2023 Form 3 Insider Report for Energy Vault Holdings, Inc. (NRGV)

Role
Chief Engineering Officer
Signature
/s/ Timothy Maloche, Attorney-in-Fact
Issuer symbol
NRGV
Transactions as of
25 May 2023
Transactions value $
$0
Form type
3
Filing time
05 Jun 2023, 16:06:57 UTC
Next filing
12 Jun 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding NRGV Common Stock 1.15M 25 May 2023 Direct F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding NRGV Stock Option 25 May 2023 Common Stock 600K $1.86 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Includes 918,758 restricted stock units (?RSUs?), which represent a contingent right to receive one share of Common Stock for each RSU. The original grant of RSUs vest as follows: (i) 508,013 RSUs vest with respect to 25% of the underlying shares on October 31, 2022 and as to 1/48th monthly thereafter; (ii) 535,000 RSUs vest with respect to 25% of the underlying shares on February 28, 2023 and as to 6.25% quarterly thereafter; and (iii) 200,000 RSUs vest with respect to 33.2% of the underlying shares on October 31, 2023 and as to 8.35% quarterly thereafter. As of May 25, 2023, a total of 94,953 shares of Common Stock were disposed of to cover tax obligations due upon vesting of 324,255 RSUs.
F2 The stock option vests in three substantially equal annual installments beginning on May 4, 2024.

Remarks:

Exhibit 24- Power of Attorney