Akash S. Patel - Apr 2, 2025 Form 4 Insider Report for NET Power Inc. (NPWR)

Role: Chief Financial Officer
Signature: /s/ James Mahon, attorney-in-fact
Stock symbol: NPWR
Transactions as of: Apr 2, 2025
Transactions value $: -$16,871
Form type: 4
Date filed: 4/4/2025, 09:57 PM
Previous filing: Nov 26, 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NPWR	Restricted Stock Units	Award	$0	+118K	+34.63%	$0.00	458K	Apr 2, 2025	Direct	F1
transaction	NPWR	Class A Common Stock	Sale	-$16.9K	-7.36K	-100%	$2.29	0	Apr 3, 2025	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	Performance Stock Units	Award	$0	+118K	+352.03%	$0.00	151K	Apr 2, 2025	Class A Common Stock	118K		Direct	F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Restricted stock units that vest in three equal installments on each anniversary of April 2, 2025, subject to continued employment.
F2	The Reporting Person was issued 7,359 net shares of Class A Common Stock upon the vesting of 11,151 restricted stock units on April 2, 2025. The sale of such shares was 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 $2.25 to $2.39, 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.
F4	The Reporting Person will receive a number of shares of Class A common stock equal to 50% of the number of PSUs upon attainment of a 10% compound annual growth rate ("CAGR") of the 30-day volume weighted average price ("VWAP") of a share of Class A common stock on April 2, 2028 as compared to the VWAP of a share of Class A common stock on April 2, 2025. The Reporting Person will receive a number of shares of Class A common stock equal to 100% of the number of PSUs upon attainment of a 12% CAGR of the VWAP of a share of Class A common stock on April 2, 2028 as compared to the VWAP of a share of Class A common stock on April 2, 2025. The Reporting Person will receive a number of shares of Class A common stock equal to 200% of the number of PSUs upon attainment of a 15% CAGR of the VWAP of a share of Class A common stock on April 2, 2028 as compared to the VWAP of a share of Class A common stock on April 2, 2025.