NPWR Files 4 with SEC

Rhea-AI Filing Summary

NET Power Inc. reported insider share sales linked to director Damian R. Beauchamp through entity NPEH, LLC. On December 19, 2025, NPEH sold 100,000 shares of Class A common stock at a weighted average price of $2.3431. On December 22, 2025, it sold another 100,000 shares at a weighted average price of $2.2646, and on December 23, 2025, it sold 130,000 shares at a weighted average price of $2.1666.

After these transactions, NPEH continued to beneficially own 2,220,000 shares of NET Power Class A common stock indirectly. The filing explains that 8 Rivers Capital, LLC may be deemed a beneficial owner of the securities held by NPEH, and that Damian R. Beauchamp may be deemed an indirect beneficial owner through his interest in 8 Rivers, though both disclaim beneficial ownership beyond their pecuniary interests.

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)
12/19/2025

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	12/19/2025		S		100,000	D	$2.3431(1)	2,450,000	I	By: NPEH, LLC(4)(5)
Class A Common Stock	12/22/2025		S		100,000	D	$2.2646(2)	2,350,000	I	By: NPEH, LLC(4)(5)
Class A Common Stock	12/23/2025		S		130,000	D	$2.1666(3)	2,220,000	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)

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 $2.305 to $2.425. 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 $2.21 to $2.35. 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 $2.13 to $2.235. 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 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.

5. Damian R. Beauchamp ("Mr. Beauchamp") independently indirectly owns approximately 68.5% 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	12/23/2025
	By: /s/ Damian R. Beauchamp	12/23/2025
	** Signature of Reporting Person	Date
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FAQ

What insider stock transactions did NET Power (NPWR) report in this filing?

The filing reports that NPEH, LLC, an entity linked to director Damian R. Beauchamp, sold NET Power Class A common stock on three dates in December 2025: 100,000 shares on December 19, 100,000 shares on December 22, and 130,000 shares on December 23.

At what prices were the NPWR shares sold in these insider transactions?

The sales were reported at weighted average prices. On December 19, 2025, shares were sold at $2.3431, on December 22, 2025 at $2.2646, and on December 23, 2025 at $2.1666. Each day’s price reflects multiple trades within a disclosed price range.

How many NET Power (NPWR) shares does NPEH still beneficially own after these sales?

Following the reported transactions, 2,220,000 shares of NET Power Class A common stock were reported as beneficially owned indirectly by the reporting person through NPEH, LLC.

What is Damian R. Beauchamp’s relationship to NET Power (NPWR) and these shares?

Damian R. Beauchamp is identified as a director of NET Power Inc. The filing states that he may be deemed an indirect beneficial owner of the securities held by NPEH, LLC through his approximate 68.5% ownership of 8 Rivers Capital, LLC, which in turn holds about 90.9% of NPEH’s equity, while disclaiming beneficial ownership beyond his pecuniary interest.

How is 8 Rivers Capital, LLC involved in the NPWR insider holdings?

The filing explains that 8 Rivers Capital, LLC, as manager and holder of approximately 90.9% of the outstanding equity in NPEH, LLC, may be deemed a beneficial owner of the securities directly owned by NPEH. 8 Rivers disclaims beneficial ownership beyond its pecuniary interest.

Are the reported prices for NPWR shares single trades or averages?

The reported prices are weighted average sales prices. The filing notes that on each date, the Class A common shares were sold in multiple trades within a specified price range, and that NPEH will provide full trade-by-trade details upon request to the SEC, the issuer, or any security holder.