NPEH, LLC trims NET Power (NYSE: NPWR) stake with 295,220-share sale

Rhea-AI Filing Summary

NPEH, LLC, a 10% owner of NET Power Inc., reported open-market sales of Class A common stock over three days in late January. It sold 130,000 shares on January 26, 2026 at a weighted average price of $2.3549, 100,000 shares on January 27 at $2.3837, and 65,220 shares on January 28 at $2.383. After these transactions, NPEH directly held 1,254,780 Class A shares. The prices reflect weighted averages across multiple trades within disclosed intraday price ranges.

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^*

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)
01/26/2026

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	01/26/2026		S		130,000	D	$2.3549(1)	1,420,000	D
Class A Common Stock	01/27/2026		S		100,000	D	$2.3837(2)	1,320,000	D
Class A Common Stock	01/28/2026		S		65,220	D	$2.383(3)	1,254,780	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 $2.345 to $2.385. 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 $2.35 to $2.41. 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 $2.35 to $2.42. 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	01/28/2026
	** Signature of Reporting Person	Date
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FAQ

What insider transaction did NPEH, LLC report for NET Power (NPWR)?

NPEH, LLC reported selling Class A common stock of NET Power over three days in January 2026. It sold 130,000 shares on January 26, 100,000 on January 27, and 65,220 on January 28 in open-market transactions at weighted average prices around $2.36–$2.38.

How many NET Power (NPWR) shares does NPEH, LLC hold after these sales?

After the reported January 2026 sales, NPEH, LLC directly holds 1,254,780 shares of NET Power Class A common stock. This figure reflects its beneficial ownership immediately following the final transaction on January 28, 2026, as disclosed in the Form 4 filing.

At what prices did NPEH, LLC sell NET Power (NPWR) shares?

NPEH, LLC sold shares at weighted average prices of $2.3549 on January 26, $2.3837 on January 27, and $2.383 on January 28, 2026. Each weighted price reflects multiple trades executed within disclosed intraday ranges around those levels.

Over what dates did NPEH, LLC sell NET Power (NPWR) stock?

NPEH, LLC sold NET Power Class A common stock on three consecutive days: January 26, January 27, and January 28, 2026. Each day’s activity was reported as an open-market sale coded “S” in the Form 4 filing under Section 16 rules.

What total number of NET Power (NPWR) shares did NPEH, LLC sell?

Across the three January 2026 transactions, NPEH, LLC sold a combined 295,220 NET Power Class A shares. This total comes from 130,000 shares sold January 26, 100,000 shares January 27, and 65,220 shares on January 28, as reported in the filing.

What is NPEH, LLC’s relationship to NET Power (NPWR)?

NPEH, LLC is identified as a 10% owner of NET Power Inc. in the Form 4. That means it beneficially owns more than ten percent of the company’s registered equity securities, which requires reporting transactions in NET Power stock under Section 16 of U.S. securities laws.