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  4. [Form 4] NET Power Inc. Insider Trading Activity

175,000 NET Power (NPWR) shares sold by entity linked to 8 Rivers

Filing Impact
(Moderate)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

NET Power Inc. reported insider activity involving indirect ownership entities. NPEH, LLC sold a total of 175,000 shares of Class A Common Stock in open-market transactions on two dates. The sales occurred at weighted average prices, with trades ranging from $2.10 to $2.215 and from $2.045 to $2.115 per share.

Following these transactions, NPEH, LLC held 850,000 shares after the earlier sale and 775,000 shares after the later sale. 8 Rivers Capital, LLC, as manager and majority equity holder of NPEH, and Damian R. Beauchamp, through his indirect and direct interests in 8 Rivers, may be deemed indirect beneficial owners but each disclaims beneficial ownership beyond any pecuniary interest.

Positive

  • None.

Negative

  • None.
Insider 8 Rivers Capital, LLC, BEAUCHAMP DAMIAN R.
Role 10% Owner | 10% Owner
Sold 175,000 shs ($369K)
Type Security Shares Price Value
Sale Class A Common Stock 75,000 $2.0692 $155K
Sale Class A Common Stock 100,000 $2.1414 $214K
Holdings After Transaction: Class A Common Stock — 775,000 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 $2.10 to $2.215. 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 $2.045 to $2.115. 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 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. Damian R. Beauchamp ("Mr. Beauchamp") independently indirectly owns approximately 63.72% of 8 Rivers, and Mr. Beauchamp directly owns approximately 3.83% 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.
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)
02/13/2026
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 02/13/2026 S 100,000 D $2.1414(1) 850,000 I By: NPEH, LLC(3)(4)
Class A Common Stock 02/18/2026 S 75,000 D $2.0692(2) 775,000 I By: NPEH, LLC(3)(4)
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 $2.10 to $2.215. 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 $2.045 to $2.115. 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. 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.
4. Damian R. Beauchamp ("Mr. Beauchamp") independently indirectly owns approximately 63.72% of 8 Rivers, and Mr. Beauchamp directly owns approximately 3.83% 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 02/18/2026
By: /s/ Damian R. Beauchamp 02/18/2026
** 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 insider transaction did NET Power Inc. (NPWR) report on this Form 4?

The filing reports that NPEH, LLC sold a total of 175,000 shares of NET Power Class A Common Stock in open-market transactions, executed on two separate dates, as indirect ownership linked to 8 Rivers Capital, LLC and Damian R. Beauchamp.

At what prices were the NET Power Inc. (NPWR) shares sold by NPEH, LLC?

The shares were sold at weighted average prices, with individual trades ranging from $2.10 to $2.215 per share on one date, and from $2.045 to $2.115 per share on the other transaction date disclosed.

How many NET Power Inc. (NPWR) shares did NPEH, LLC hold after the reported sales?

After the first reported sale, NPEH, LLC held 850,000 shares of NET Power Class A Common Stock. After the second sale, its holdings decreased to 775,000 shares, all reported as indirect ownership in the Form 4 filing.

What role does 8 Rivers Capital, LLC have in the NET Power Inc. (NPWR) holdings?

8 Rivers Capital, LLC is the manager and holds approximately 90.9% of the outstanding equity in NPEH, LLC. Because NPEH directly owns the NET Power shares, 8 Rivers may be deemed a beneficial owner to the extent of its pecuniary interest.

How is Damian R. Beauchamp connected to the NET Power Inc. (NPWR) share sales?

Damian R. Beauchamp indirectly owns about 63.72% of 8 Rivers Capital, LLC and directly owns about 3.83% of it. Through these interests, he may be deemed an indirect beneficial owner of NPEH’s NET Power shares, limited to his pecuniary interest.

Do 8 Rivers Capital, LLC and Damian R. Beauchamp claim full beneficial ownership of the NET Power (NPWR) shares?

Both 8 Rivers Capital, LLC and Damian R. Beauchamp expressly disclaim beneficial ownership of the NET Power shares held by NPEH, LLC, except to the extent of their respective pecuniary interests as described in the Form 4 footnotes.