NPEH converts 3,000,000 units into NET Power shares
NPEH, LLC, a 10% owner of NET Power Inc., reported an internal equity reclassification.
Rhea-AI Filing Summary
NPEH, LLC, a 10% owner of NET Power Inc., reported an internal equity reclassification. On March 6, 2026, NPEH exchanged 3,000,000 Class A Units of NET Power Operations LLC for 3,000,000 shares of NET Power Class A Common Stock, at a stated price of $0.00 per share. For each exchanged unit, a corresponding share of NET Power Class B Common Stock held by NPEH, which has no economic value, was cancelled, leaving NPEH with 17,729,880 Class B shares and 17,729,880 Class A Units. Following the transaction, NPEH directly owns 3,400,000 shares of NET Power Class A Common Stock. This amendment corrects an administrative error in an earlier Form 4 by properly reflecting the 3,000,000 Class A Units as converted in the derivative table.
Positive
- None.
Negative
- None.
Insider Trade Summary
3,000,000 shares exercised/converted
Exercise
3 txns
Insider
NPEH, LLC
Role
10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Class A Units of NET Power Operations LLC | 3,000,000 | $0.00 | $0.00 |
| Conversion | Class A Common Stock | 3,000,000 | $0.00 | $0.00 |
| Other | Class B Common Stock | 3,000,000 | $0.00 | $0.00 |
Holdings After Transaction:
Class A Units of NET Power Operations LLC — 17,729,880 contracts (Direct);
Class A Common Stock — 3,400,000 shares (Direct);
Class B Common Stock — 17,729,880 shares (Direct)
Footnotes (3)
- F1. The Class A Units of NET Power Operations LLC are exchangeable into shares of the Issuer's Class A Common Stock or, at the Issuer's election, cash, on a one-for-one basis and have no expiration date. On March 6, 2026, NPEH exchanged 3,000,000 Class A Units of NET Power Operations LLC for 3,000,000 shares of the Issuer's Class A Common Stock.
- F2. For each Class A Unit of Net Power Operations LLC, NPEH owns a corresponding share of Class B Common Stock of the Issuer. Upon the exchange of 3,000,000 Class A Units of Net Power Operations LLC, an equal number of shares of Class B Common Stock of the Issuer held by NPEH, which have no economic value, were cancelled.
- F3. This amendment is being filed to correct an administrative error in the Form 4 filed on March 10, 2026 (the "Original Form 4") and report the 3,000,000 Class A Units of NET Power Operations LLC that were converted into an equal number of shares of the Issuer's Class A Common Stock as being disposed of by the Reporting Person. The Original Form 4 inadvertently omitted such Class A Units from Table II.
Key Figures
Units converted: 3,000,000 Class A Units
Shares received: 3,000,000 Class A Common shares
Class A Common post-transaction: 3,400,000 shares
+3 more
6 metrics
Units converted
3,000,000 Class A Units
Exchanged into Class A Common Stock on March 6, 2026
Shares received
3,000,000 Class A Common shares
Issued to NPEH, LLC upon unit exchange
Class A Common post-transaction
3,400,000 shares
NPEH direct holdings after conversion
Class A Units post-transaction
17,729,880 units
NET Power Operations LLC units held by NPEH after exchange
Class B Common post-transaction
17,729,880 shares
NPEH Class B holdings after related cancellations
Stated conversion price
$0.00 per share
Price per share for the reported transactions
Key Terms
Class A Units of NET Power Operations LLC, Class A Common Stock, Class B Common Stock, Conversion of derivative security, +1 more
5 terms
Class A Units of NET Power Operations LLC financial
"The Class A Units of NET Power Operations LLC are exchangeable into shares of the Issuer's Class A Common Stock or, at the Issuer's election, cash..."
Class A Common Stock financial
"NPEH exchanged 3,000,000 Class A Units of NET Power Operations LLC for 3,000,000 shares of the Issuer's Class A Common Stock."
Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
Class B Common Stock financial
"an equal number of shares of Class B Common Stock of the Issuer held by NPEH, which have no economic value, were cancelled."
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
Conversion of derivative security financial
"transaction_code_description: Conversion of derivative security"
administrative error financial
"This amendment is being filed to correct an administrative error in the Form 4 filed on March 10, 2026..."
FAQ
How did the NET Power (NPWR) unit conversion affect NPEH’s Class A Common Stock holdings?
After converting 3,000,000 Class A Units into 3,000,000 shares of Class A Common Stock, NPEH, LLC directly holds 3,400,000 Class A shares. This reflects the post-transaction ownership reported in the filing, consolidating more of NPEH’s economic interest into listed common stock.
What happened to NPEH’s Class B Common Stock in the NET Power (NPWR) filing?
For each exchanged Class A Unit, one corresponding NET Power Class B Common share held by NPEH was cancelled. These Class B shares have no economic value. After the cancellations, NPEH still holds 17,729,880 Class B shares linked to remaining Class A Units.
Why was this Form 4/A amendment filed for NET Power (NPWR)?
The amendment corrects an administrative error in an earlier Form 4 that omitted the 3,000,000 Class A Units from the derivative securities table. It reclassifies those units as converted into an equal number of Class A Common shares, aligning the derivative table with the actual exchange.
What are NET Power Operations LLC Class A Units mentioned in the NPEH filing?
The Class A Units of NET Power Operations LLC are exchangeable on a one-for-one basis into NET Power Class A Common Stock or, at NET Power’s election, cash. They have no expiration date. NPEH exchanged 3,000,000 such units for 3,000,000 Class A shares on March 6, 2026.
AI-generated analysis. How Rhea-AI works. Not financial advice.
