Net Power holder sells 250K shares near $1.9

A ten percent owner of NPWR and an associated individual reported indirect open‑market sales totaling 250,000 Class A shares through NPEH, LLC over two days.

Rhea-AI Filing Summary

Net Power Inc. (NPWR) reported that 8 Rivers Capital, LLC and Damian R. Beauchamp, each a ten percent owner, had associated entity NPEH, LLC sell an aggregate of 250,000 shares of Class A Common Stock on September 8–9, 2026 in open-market or private transactions at weighted-average prices around the reported levels. The reporting parties state they may be deemed indirect beneficial owners only to the extent of their pecuniary interests and disclaim beneficial ownership beyond that.

Insider Trade Summary

Net Seller: 250,000 shares

Net Sell 2 txns

Insider 8 Rivers Capital, LLC, BEAUCHAMP DAMIAN R.

Role 10% Owner | 10% Owner

Sold 250,000 shs ($470K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock F2, F3, F4	150,000	$1.8405	$276K
Sale	Class A Common Stock F1, F3, F4	100,000	$1.9352	$194K

Holdings After Transaction: Class A Common Stock — 750,000 shares (Indirect, By: NPEH, LLC)

Footnotes (4)

1. F1. The price reported reflects the weighted average sales price. The shares of Class A Common Stock were sold in multiple trades at prices ranging from $1.87 to $2.00. NPEH, LLC ("NPEH"), will provide upon request to the SEC, the Issuer or security holder of the Issuer, full information regarding the number of shares sold at each separate price.
2. F2. The price reported reflects the weighted average sales price. The shares of Class A Common Stock were sold in multiple trades at prices ranging from $1.77 to $1.885. NPEH will provide upon request to the SEC, the Issuer or security holder of the Issuer, full information regarding the number of shares sold at each separate price.
3. F3. As manager and holder of approximately 90.9% of the outstanding equity in NPEH, 8 Rivers Capital, LLC ("8 Rivers") may be deemed to be a beneficial owner of the securities directly owned by NPEH. 8 Rivers disclaims beneficial ownership of any such securities, except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that 8 Rivers is the beneficial owner of such securities for purposes of Section 16 or otherwise.
4. F4. Damian R. Beauchamp ("Mr. Beauchamp") independently indirectly owns approximately 63.70% of 8 Rivers, and Mr. Beauchamp directly owns approximately 3.83% of 8 Rivers. Accordingly, Mr. Beauchamp may be deemed the indirect beneficial owner of the securities owned by NPEH to the extent of his pecuniary interest therein. Mr. Beauchamp disclaims beneficial ownership of any such securities, except to the extent of his or her pecuniary interest therein, if any, and this report shall not be deemed an admission that Mr. Beauchamp is the beneficial owner of such securities for purposes of Section 16 or otherwise.

Key Figures

Shares sold September 8, 2026: 100,000 shares Weighted-average price September 8, 2026: $1.9352 per share Shares sold September 9, 2026: 150,000 shares +5 more

8 metrics

Shares sold September 8, 2026 100,000 shares Indirect sale of Class A Common Stock by NPEH, LLC

Weighted-average price September 8, 2026 $1.9352 per share Trades ranged from $1.87 to $2.00

Shares sold September 9, 2026 150,000 shares Indirect sale of Class A Common Stock by NPEH, LLC

Weighted-average price September 9, 2026 $1.8405 per share Trades ranged from $1.77 to $1.885

Total shares sold 250,000 shares Aggregate of the two reported sales

NPEH equity held by 8 Rivers 90.9% 8 Rivers is manager and holder of approximately 90.9% of NPEH’s equity

Indirect ownership of 8 Rivers by Beauchamp 63.70% Mr. Beauchamp independently indirectly owns approximately 63.70% of 8 Rivers

Direct ownership of 8 Rivers by Beauchamp 3.83% Mr. Beauchamp directly owns approximately 3.83% of 8 Rivers

Key Terms

weighted average sales price, beneficial owner, pecuniary interest, indirect beneficial owner

4 terms

weighted average sales price financial

"The price reported reflects the weighted average sales price."

beneficial owner financial

"8 Rivers may be deemed to be a beneficial owner of the securities"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

pecuniary interest financial

"disclaims beneficial ownership... except to the extent of its pecuniary interest"

indirect beneficial owner financial

"Mr. Beauchamp may be deemed the indirect beneficial owner of the securities"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did NPWR report in this Form 4?

The filing reports that entity NPEH, LLC sold 250,000 shares of Net Power Inc. Class A Common Stock in two transactions on September 8 and 9, 2026 in open-market or private sales at weighted-average prices.

Who are the reporting persons in the NPWR Form 4 and how are they related to the shares?

The reporting persons are 8 Rivers Capital, LLC and Damian R. Beauchamp, each a ten percent owner. The shares were held indirectly through NPEH, LLC; 8 Rivers manages and holds about 90.9% of NPEH, and Mr. Beauchamp indirectly and directly owns equity in 8 Rivers.

At what prices were the Net Power Inc. (NPWR) shares sold?

For the 100,000-share sale on September 8, 2026, the weighted-average price was $1.9352 with trades between $1.87 and $2.00. For the 150,000‑share sale on September 9, 2026, the weighted-average price was $1.8405 with trades between $1.77 and $1.885.

Are 8 Rivers Capital and Damian R. Beauchamp claiming full beneficial ownership of the NPWR shares?

No. 8 Rivers Capital and Damian R. Beauchamp each state they may be deemed beneficial owners only to the extent of their pecuniary interests and expressly disclaim beneficial ownership of any additional securities for Section 16 or other purposes.

Were the NPWR insider sales made under a Rule 10b5-1 trading plan?

The Form 4 indicates no Rule 10b5-1 plan is reported, as the document-level checkbox for such a plan is not marked. The footnotes describe pricing and ownership relationships but do not state that the trades were executed under a pre-arranged plan.

How many NPWR shares were sold on each day by NPEH, LLC?

NPEH, LLC sold 100,000 shares of Net Power Inc. Class A Common Stock on September 8, 2026 and 150,000 shares on September 9, 2026, for a total of 250,000 shares reported in this Form 4.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/10/2026 - 06:01 PM Accepted by SEC EDGAR 09/10/2026 - 06:01 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a 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). See Instruction 10.

1. Name and Address of Reporting Person^*

8 Rivers Capital, LLC

(Last) (First) (Middle)

406 BLACKWELL STREET, 4TH FLOOR

(Street)

DURHAM NORTH CAROLINA 27701

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Net Power Inc. [ NPWR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/08/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	09/08/2026		S		100,000	D	$1.9352(1)	900,000	I	By: NPEH, LLC(3)(4)
Class A Common Stock	09/09/2026		S		150,000	D	$1.8405(2)	750,000	I	By: NPEH, LLC(3)(4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

8 Rivers Capital, LLC

(Last) (First) (Middle)

406 BLACKWELL STREET, 4TH FLOOR

(Street)

DURHAM NORTH CAROLINA 27701

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

BEAUCHAMP DAMIAN R.

(Last) (First) (Middle)

406 BLACKWELL STREET, 4TH FLOOR

(Street)

DURHAM NORTH CAROLINA 27701

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. The price reported reflects the weighted average sales price. The shares of Class A Common Stock were sold in multiple trades at prices ranging from $1.87 to $2.00. NPEH, LLC ("NPEH"), will provide upon request to the SEC, the Issuer or security holder of the Issuer, full information regarding the number of shares sold at each separate price.

2. The price reported reflects the weighted average sales price. The shares of Class A Common Stock were sold in multiple trades at prices ranging from $1.77 to $1.885. NPEH will provide upon request to the SEC, the Issuer or security holder of the Issuer, full information regarding the number of shares sold at each separate price.

3. As manager and holder of approximately 90.9% of the outstanding equity in NPEH, 8 Rivers Capital, LLC ("8 Rivers") may be deemed to be a beneficial owner of the securities directly owned by NPEH. 8 Rivers disclaims beneficial ownership of any such securities, except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that 8 Rivers is the beneficial owner of such securities for purposes of Section 16 or otherwise.

4. Damian R. Beauchamp ("Mr. Beauchamp") independently indirectly owns approximately 63.70% of 8 Rivers, and Mr. Beauchamp directly owns approximately 3.83% of 8 Rivers. Accordingly, Mr. Beauchamp may be deemed the indirect beneficial owner of the securities owned by NPEH to the extent of his pecuniary interest therein. Mr. Beauchamp disclaims beneficial ownership of any such securities, except to the extent of his or her pecuniary interest therein, if any, and this report shall not be deemed an admission that Mr. Beauchamp is the beneficial owner of such securities for purposes of Section 16 or otherwise.

	By: /s/ Min Lee, General Counsel of 8 Rivers Capital, LLC	09/10/2026
	By: /s/ Damian R. Beauchamp	09/10/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)