Insider-linked entity trims NET Power (NPWR) stake with 100,000-share sale

Rhea-AI Filing Summary

NET Power Inc. reported an insider transaction involving an indirect sale of Class A Common Stock by NPEH, LLC, an entity associated with 8 Rivers Capital, LLC. NPEH sold 100,000 shares in an open-market transaction at a weighted average price of $2.0425 per share, in multiple trades between $2.01 and $2.015. Following this sale, 400,000 shares of Class A Common Stock remained indirectly owned through NPEH. Footnotes state that 8 Rivers, and indirectly Damian R. Beauchamp, may be deemed beneficial owners only to the extent of their pecuniary interests and each disclaims broader beneficial ownership.

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

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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 NC 27701

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
03/03/2026

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

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

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

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	03/03/2026		S		100,000	D	$2.0425(1)	400,000	I	By: NPEH, LLC(2)(3)

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 NC 27701

(City) (State) (Zip)

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 NC 27701

(City) (State) (Zip)

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 $2.01 to $2.015. 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. 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.

3. Damian R. Beauchamp ("Mr. Beauchamp") independently indirectly owns approximately 63.72% 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	03/05/2026
	By: /s/ Damian R. Beauchamp	03/05/2026
	** Signature of Reporting Person	Date
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FAQ

What insider transaction did NET Power (NPWR) report on this Form 4?

NET Power reported an indirect insider sale of Class A Common Stock. NPEH, LLC sold 100,000 shares in an open-market transaction at a weighted average price of $2.0425 per share, with trades executed between $2.01 and $2.015.

Who actually sold the NET Power (NPWR) shares in this filing?

The shares were sold by NPEH, LLC, which directly owned the Class A Common Stock. 8 Rivers Capital, LLC is the manager and majority equity holder of NPEH and may be deemed a beneficial owner only to the extent of its pecuniary interest.

How many NET Power (NPWR) shares were sold and at what prices?

The transaction involved the sale of 100,000 shares of NET Power Class A Common Stock. The weighted average sale price was $2.0425 per share, with individual trades occurring in a price range from $2.01 to $2.015 per share.

How many NET Power (NPWR) shares remained after the reported sale?

After the sale, 400,000 shares of NET Power Class A Common Stock remained indirectly owned through NPEH, LLC. This figure reflects the holdings reported following the open‑market sale described in the Form 4 transaction details.

What is 8 Rivers Capital’s relationship to the NET Power (NPWR) shares?

8 Rivers Capital, LLC manages NPEH, LLC and holds about 90.9% of its equity, so it may be deemed a beneficial owner of NPEH’s NET Power shares, but disclaims beneficial ownership beyond any pecuniary interest it actually holds.

How is Damian R. Beauchamp connected to this NET Power (NPWR) transaction?

Damian R. Beauchamp indirectly owns about 63.72% and directly owns about 3.83% of 8 Rivers Capital, LLC. He may be deemed an indirect beneficial owner of NPEH’s NET Power shares only to the extent of his pecuniary interest and formally disclaims broader ownership.