[Form 4] NET Power Inc. Insider Trading Activity

Rhea-AI Filing Summary

NET Power Inc. (NPWR)11/17/2025 at a weighted average price of $2.8096, and a further 250,000 shares on 11/19/2025 at a weighted average price of $2.568. After these transactions, the reporting person beneficially owned 3,250,000 shares of Class A common stock. The filing notes that each day's sales were executed in multiple trades within stated price ranges and that detailed trade data is available upon request.

Insights

Equity Ownership & Governance Analyst

Director-affiliated entity reports two open-market share sales in November, reducing its Class A holdings but retaining a large position.

The filing shows an entity affiliated with a director of NET Power Inc. selling Class A Common Stock in two open-market transactions. On 11/17/2025, it sold 338,653 shares at a weighted average price of $2.8096, with individual trades ranging from $2.76 to $2.885. On 11/19/2025, it sold 250,000 shares at a weighted average price of $2.568, with trade prices between $2.505 and $2.715. After these transactions, the reporting person beneficially owns 3,250,000 shares of Class A Common Stock in direct form.

These are secondary market sales, so the issuer does not receive proceeds, and the company’s outstanding share count does not change based on this disclosure alone. The trades indicate a reduction, but not an exit, of the reporting person’s exposure, and the filing states that detailed trade breakdowns by price tier are available upon request, which supports transparency about execution levels. The impact is mainly on the distribution of share ownership rather than on operations or capital structure.

Key items to watch are whether similar Form 4s continue to appear over time and how the director’s beneficial ownership evolves relative to the current 3,250,000-share balance. Monitoring future filing dates around and after 11/19/2025 can show if this is an isolated adjustment or part of a continuing pattern of sales.

11/19/2025 - 05:45 PM

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^*

NPEH, 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)
11/17/2025

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

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

X	Form filed by One Reporting Person
	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	11/17/2025		S		338,653	D	$2.8096(1)	3,500,000	D
Class A Common Stock	11/19/2025		S		250,000	D	$2.568(2)	3,250,000	D

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

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 $2.76 to $2.885. 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 $2.505 to $2.715. 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.

	By: /s/ Min Lee, General Counsel of 8 Rivers Capital, LLC, its Manager	11/19/2025
	** 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.

FAQ

What does the NPWR Form 4 filing report?

The Form 4 reports that a director of NET Power Inc. (NPWR) sold shares of the company’s Class A common stock in two separate transactions and updated their remaining beneficial ownership.

How many NPWR shares were sold on 11/17/2025?

On 11/17/2025, the reporting person sold 338,653 shares of NET Power Class A common stock at a weighted average price of $2.8096 per share, based on multiple trades within a disclosed price range.

How many NPWR shares were sold on 11/19/2025 and at what price?

On 11/19/2025, the reporting person sold 250,000 shares of NET Power Class A common stock at a weighted average price of $2.568 per share, with the shares sold in multiple trades within a stated price range.

How many NPWR shares does the insider own after these transactions?

Following the reported transactions, the insider beneficially owned 3,250,000 shares of NET Power’s Class A common stock, as shown in the Form 4 table.

What do the weighted average prices in the NPWR Form 4 mean?

The prices of $2.8096 and $2.568 are weighted average sales prices for each day’s trades. The filing explains that the shares were sold in multiple trades within specific price ranges and that full trade details are available upon request.

What is the insider’s relationship to NET Power (NPWR)?

The Form 4 identifies the reporting person’s relationship to NET Power Inc. as a director, as indicated in the relationship section of the filing.