[Form 4] NET Power Inc. Insider Trading Activity

Rhea-AI Filing Summary

NET Power (NPWR): insider-affiliated entity reports stock sales. NPEH, LLC reported open-market sales of Class A Common Stock over three days. On 10/28/2025 it sold 7,585 shares at a weighted average price of $3.7695. On 10/29/2025 it sold 786,832 shares at a weighted average price of $4.1166. On 10/30/2025 it sold 107,754 shares at a weighted average price of $4.0376.

Following these transactions, NPEH, LLC reported indirect beneficial ownership of 1,865,246 shares. The prices reflect weighted averages for multiple trades, with disclosed ranges of $3.72–$3.78, $3.72–$4.315, and $4.00–$4.105, respectively.

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
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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)
10/28/2025

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	10/28/2025		S		7,585	D	$3.7695(1)	2,759,832	I	By: NPEH, LLC(4)(5)
Class A Common Stock	10/29/2025		S		786,832	D	$4.1166(2)	1,973,000	I	By: NPEH, LLC(4)(5)
Class A Common Stock	10/30/2025		S		107,754	D	$4.0376(3)	1,865,246	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 $3.72 to $3.78. 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 $3.72 to $4.315. 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 $4.00 to $4.105. 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	10/30/2025
	By: /s/ Damian R. Beauchamp	10/30/2025
	By: /s/ Cynda Beauchamp	10/30/2025
	** 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).
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FAQ

What insider activity did NPWR report on this Form 4?

NPEH, LLC reported open-market sales of Class A Common Stock on 10/28, 10/29, and 10/30/2025 with weighted average prices disclosed.

How many NPWR shares were sold and at what prices?

7,585 shares at $3.7695 on 10/28/2025; 786,832 at $4.1166 on 10/29/2025; 107,754 at $4.0376 on 10/30/2025.

How many NPWR shares remain beneficially owned after the sales?

NPEH, LLC reported indirect beneficial ownership of 1,865,246 shares following the 10/30/2025 transactions.

Were the reported prices single trades or averages?

They are weighted average prices; the filing discloses trade price ranges of $3.72–$3.78, $3.72–$4.315, and $4.00–$4.105.

Who are the reporting persons associated with the NPWR transactions?

The report identifies NPEH, LLC and references 8 Rivers Capital, LLC; signatures include 8 Rivers’ General Counsel and Damian R. and Cynda Beauchamp.

What is the transaction code for these NPWR trades?

The trades are coded S for open-market or private sale transactions.