Form 4: NPEH exchanges into Class A, holds 3,763,400 NPWR
Rhea-AI Filing Summary
NET Power (NPWR): Insider affiliate NPEH, LLC exchanged 4,000,000 Class A Units of NET Power Operations LLC for 4,000,000 shares of Class A Common Stock on 10/14/2025; an equal number of Class B Common shares (no economic value) were cancelled.
Subsequently, NPEH sold a total of 236,600 Class A shares on 10/15–10/16/2025 at weighted average prices of $4.8321, $4.8786, and $4.7061, respectively. Following these transactions, 3,763,400 Class A shares were beneficially owned indirectly by NPEH, and 22,729,880 Class A Units of NET Power Operations LLC remained beneficially owned.
Positive
- None.
Negative
- None.
Insights
Large unit-to-share exchange and insider sales increased Class A float; selling activity disclosed and remaining holdings clarified.
**NPEH, LLC** exchanged 4,000,000 Class A units of NET Power Operations LLC for 4,000,000 shares of **NET Power Inc. (NPWR)** Class A Common on
Following the exchange, NPEH sold an aggregate 236,600 Class A shares on
The key mechanics: unit exchanges are one-for-one into Class A or cash at the issuer’s election, with no expiration. Items to watch include further unit exchanges or open market sales by NPEH/affiliates and changes to the 22,729,880 remaining units. The next meaningful data point would be any subsequent Forms 4 reporting additional exchanges or sales after
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 13,959 | $4.7061 | $66K |
| Sale | Class A Common Stock | 100,000 | $4.8321 | $483K |
| Sale | Class A Common Stock | 122,641 | $4.8786 | $598K |
| Conversion | Class A Units of NET Power Operations LLC | 4,000,000 | $0.00 | -- |
| Conversion | Class A Common Stock | 4,000,000 | $0.00 | -- |
| Other | Class B Common Stock | 4,000,000 | $0.00 | -- |
Footnotes (1)
- 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 October 14, 2025, NPEH, LLC ("NPEH") exchanged 4,000,000 Class A Units of NET Power Operations LLC for 4,000,000 shares of the Issuer's Class A Common Stock. 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 4,000,000 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. 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 $4.67 to $4.93. 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 $4.85 to $4.925. 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 $4.50 to $4.83. 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 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 these securities except to the extent of his or her pecuniary interest therein.
