Akash S. Patel - 22 Nov 2024 Form 4 Insider Report for NET Power Inc. (NPWR)

Role
Chief Financial Officer
Signature
/s/ Akash Patel
Issuer symbol
NPWR
Transactions as of
22 Nov 2024
Transactions value $
-$1,897,170
Form type
4
Filing time
26 Nov 2024, 16:00:51
Previous filing
04 Apr 2024
Next filing
04 Apr 2025
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NPWR Class B Common Stock Other $0 -150K -18.98% $0.00 640K 22 Nov 2024 Direct F1
transaction NPWR Class A Common Stock Conversion of derivative security $0 +150K $0.00 150K 22 Nov 2024 Direct F1
transaction NPWR Class A Common Stock Sale -$1.9M -150K -100% $12.65 0 22 Nov 2024 Direct F2, F3

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
transaction NPWR Class A Units of NET Power Operations LLC Conversion of derivative security $0 -150K -18.98% $0.00 640K 22 Nov 2024 Class A Common Stock 150K Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 On November 22, 2024, 150,000 Class A Units of NET Power Operations LLC (a subsidiary of the issuer) held by the reporting person were redeemed in exchange for an equal number of shares of the issuer's Class A Common Stock pursuant to a redemption notice from the reporting person dated November 22, 2024, and upon such redemption, 150,000 shares of the issuer's Class B Common Stock held by the reporting person were surrendered to the issuer and canceled.
F2 The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $12.35 to $13.41, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.