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NET Power insider filing shows sales and updated indirect holdings

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

NET Power (NPWR) insiders reported open-market sales of Class A Common Stock through NPEH, LLC. On 10/20/2025, NPEH sold 201,000 shares at a weighted average price of $3.5784. On 10/21/2025, it sold 189,300 shares at $3.5307. On 10/22/2025, it sold 89,000 shares at $3.3071.

Following these transactions, NPEH reported 3,284,100 shares beneficially owned on an indirect basis. The reporting persons indicate indirect ownership through 8 Rivers Capital, LLC, with stated disclaimers of beneficial ownership except to the extent of pecuniary interest.

Positive

  • None.

Negative

  • None.
Insider 8 Rivers Capital, LLC, BEAUCHAMP DAMIAN R., Beauchamp Cynda
Role 10% Owner | 10% Owner | 10% Owner
Sold 479,300 shs ($1.68M)
Type Security Shares Price Value
Sale Class A Common Stock 89,000 $3.3071 $294K
Sale Class A Common Stock 189,300 $3.5307 $668K
Sale Class A Common Stock 201,000 $3.5784 $719K
Holdings After Transaction: Class A Common Stock — 3,284,100 shares (Indirect, By: NPEH, LLC)
Footnotes (1)
  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 $3.51 to $3.72. 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. 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 $3.51 to $3.5775. 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. 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 $3.225 to $3.365. 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. As manager and holder of approximately 91.4% 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. Damian R. Beauchamp ("Mr. Beauchamp") and Cynda Beauchamp ("Mrs. Beauchamp") are married and each independently indirectly owns approximately 34.2% of 8 Rivers. Accordingly, each may be deemed the indirect beneficial owner of the securities owned by NPEH to the extent of his or her pecuniary interest therein. Mr. and Mrs. Beauchamp disclaim 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. or Mrs. Beauchamp is the beneficial owner of such securities for purposes of Section 16 or otherwise.
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Form 4 Insider Transactions: What Each Field Means →
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 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)
10/20/2025
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 10/20/2025 S 201,000 D $3.5784(1) 3,562,400 I By: NPEH, LLC(4)(5)
Class A Common Stock 10/21/2025 S 189,300 D $3.5307(2) 3,373,100 I By: NPEH, LLC(4)(5)
Class A Common Stock 10/22/2025 S 89,000 D $3.3071(3) 3,284,100 I By: NPEH, LLC(4)(5)
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)
1. Name and Address of Reporting Person*
Beauchamp Cynda
(Last) (First) (Middle)
8 THE GREEN STE B
(Street)
DOVER DE 19901
(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 $3.51 to $3.72. 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 $3.51 to $3.5775. 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. 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 $3.225 to $3.365. 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.
4. As manager and holder of approximately 91.4% 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.
5. Damian R. Beauchamp ("Mr. Beauchamp") and Cynda Beauchamp ("Mrs. Beauchamp") are married and each independently indirectly owns approximately 34.2% of 8 Rivers. Accordingly, each may be deemed the indirect beneficial owner of the securities owned by NPEH to the extent of his or her pecuniary interest therein. Mr. and Mrs. Beauchamp disclaim 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. or Mrs. 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 10/22/2025
By: /s/ Damian R. Beauchamp 10/22/2025
By: /s/ Cynda Beauchamp 10/22/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What did NPWR insiders report in this Form 4?

Indirect sales by NPEH, LLC of Class A Common Stock on 10/20, 10/21, and 10/22/2025 totaling 479,300 shares at weighted average prices.

How many NPWR shares were sold and on which dates?

201,000 shares on 10/20/2025, 189,300 on 10/21/2025, and 89,000 on 10/22/2025.

What were the weighted average sale prices disclosed?

$3.5784 on 10/20/2025, $3.5307 on 10/21/2025, and $3.3071 on 10/22/2025.

How many NPWR shares were beneficially owned after the sales?

3,284,100 shares, reported as indirectly owned by NPEH, LLC.

Who are the reporting persons and what is the ownership structure?

NPEH, LLC with indirect ownership through 8 Rivers Capital, LLC; certain individuals are related to 8 Rivers and include ownership disclaimers.

Were the sales executed in multiple trades within price ranges?

Yes. The filing notes multiple trades within disclosed ranges and offers to provide detailed breakdowns upon request.