[SCHEDULE 13D/A] NET Power Inc. SEC Filing

Rhea-AI Filing Summary

Form 4 highlights: On 07/30/2025, Executive Chair & 10% owner Ralph Lauren reported an indirect gift of 1,500,000 Class B shares (convertible 1-for-1 into Class A) from a family trust to a limited-liability company managed by his children (Transaction Code G).

Following the transfer:

• Trusts where Mrs. Lauren is trustee now hold 2,789,028 Class B shares.
• Mr. Lauren’s primary trust continues to own 12,282,954 Class B shares.
• An additional trust retains 51,365 Class B shares.

No open-market sales, purchases, or conversions occurred, and the exercise price remains $0 because Class B shares convert at the holder’s option. The transaction appears to be estate-planning related; it shifts voting power within the Lauren family but leaves the executive’s overall economic exposure to RL stock largely unchanged. Investors should view the filing as neutral from a liquidity or valuation standpoint.

Insights

Financial Analyst

TL;DR: Gifted 1.5 M Class B shares to family LLC; no cash sale, neutral impact.

The Code G transaction merely reallocates shares among family entities. Because Class B converts 1:1 to Class A, economic ownership is intact and no dilution occurs. Ralph Lauren still controls >15 M super-voting shares through various trusts, maintaining effective control. The absence of market sales means no supply overhang or pricing signal. Impact is therefore housekeeping rather than strategic.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 6)

NET Power Inc.

(Name of Issuer)

Class A Common Stock, par value $0.0001

(Title of Class of Securities)

64107A105

(CUSIP Number)

Min Lee
8 Rivers Capital, LLC, 406 Blackwell Street, 4th Floor
Durham, NC, 27701
919-667-1800

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

07/30/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 64107A105

1

Name of reporting person

8 RIVERS CAPITAL, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC, OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 26,729,880.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 26,729,880.00

11

Aggregate amount beneficially owned by each reporting person

26,729,880.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

25.6 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Row 8, 10 and 11. Beneficial ownership of shares of Class A common stock, par value $0.0001 per share ("Class A Common Stock"), of NET Power, Inc. (the "Issuer") is being reported hereunder solely because the reporting person may be deemed to have beneficial ownership of such shares as a result of the relationships described under Item 2 and Item 3 and the matters described in Item 3, Item 4 and Item 5 of Schedule 13D (as defined below), as amended by this Amendment No. 6 (as defined below). Represents 26,729,880 Class A Units of NET Power Operations LLC ("Opco Units") held directly by NPEH, LLC ("NPEH"), that are exchangeable for shares of Class A Common Stock on a one-for-one basis as described herein. At the time of any such exchange, an equal number of shares of Class B common stock, par value $0.0001 per share ("Class B Common Stock"), of the Issuer held directly by NPEH, which have no economic value, will be cancelled. Row 13. Based upon (i) 77,726,852 shares of Class A Common Stock issued and outstanding as of May 9, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (the "SEC") on May 12, 2025 (the "Issuer Form 10-Q") and (ii) 26,729,880 shares of Class A Common Stock issuable to NPEH upon the redemption and exchange of an equal number of Opco Units (and the cancellation of an equal number of shares of Class B Common Stock) held by NPEH.

SCHEDULE 13D

CUSIP No. 64107A105

1

Name of reporting person

NPEH, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 26,729,880.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 26,729,880.00

11

Aggregate amount beneficially owned by each reporting person

26,729,880.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

25.6 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Row 8, 10 and 11. Represents 26,729,880 Opco Units held directly by NPEH that are exchangeable for shares of Class A Common Stock on a one-for-one basis as described herein. At the time of any such exchange, an equal number of shares of Class B Common Stock held directly by NPEH, which have no economic value, will be cancelled. Row 13. Based upon (i) 77,726,852 shares of Class A Common Stock issued and outstanding as of May 9, 2025, as reported in the Issuer Form 10-Q and (ii) 26,729,880 shares of Class A Common Stock issuable to NPEH upon the redemption and exchange of an equal number of Opco Units (and the cancellation of an equal number of shares of Class B Common Stock) held by NPEH.

SCHEDULE 13D

CUSIP No. 64107A105

1

Name of reporting person

SK INC.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC, OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

KOREA, REPUBLIC OF

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

0.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Row 8, 10, 11 and 13. On July 30, 2025, SK Inc. ("SK"), which directly owned 100% of each of Tillandsia, Inc. ("Tillandsia"), Areca, Inc. ("Areca") and Chamaedorea, Inc. ("Chamaedoria"), sold its interests in each of Tillandsia, Areca and Chamaedorea to Damian Beauchamp ("Mr. Beauchamp") and 8RCH, LLC, a Delaware limited liability company ("8RCH"), (the "Sale"). Following the Sale, Mr. Beauchamp directly owns 50% of each of Tillandsia, Areca and Chamaedorea and 8RCH directly owns 50% of each of Tillandsia, Areca and Chamaedorea. Following the Sale, SK no longer beneficially owns 5% or greater of the Issuer's Class A Common Stock, and is therefore no longer a Reporting Person.

SCHEDULE 13D

CUSIP No. 64107A105

1

Name of reporting person

TILLANDSIA, INC.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC, OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

0.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Row 8 and 10. Mr. Beauchamp directly owns 50% of the outstanding equity of each of Tillandsia, Areca and Chamaedorea. 8RCH directly owns 50% of the outstanding equity of each of Tillandsia, Areca and Chamaedorea and Cynda Beauchamp ("Mrs. Beauchamp") directly owns 100% of the outstanding equity of 8RCH. Each of Tillandsia, Areca and Chamaedorea directly owns approximately 18.60%, 25.77% and 24.11%, respectively, of the voting units of 8 Rivers Capital, LLC ("8 Rivers") and Mr. Beauchamp directly owns approximately 2.27% of the voting units of 8 Rivers. Thus, each of Mr. Beauchamp, Mrs. Beauchamp and 8RCH may be deemed to be a beneficial owner of the shares beneficially owned by 8 Rivers. 8 Rivers owns approximately 91.4% of the outstanding equity of NPEH and is the manager of NPEH and thus may be deemed to be a beneficial owner of the shares of Class A Common Stock deemed to be directly owned by NPEH. As indicated above, each of Tillandsia, Areca and Chamaedorea directly owns approximately 18.60%, 25.77% and 24.11%, respectively, of the voting units of 8 Rivers and none of Tillandsia, Areca or Chamaedorea controls 8 Rivers or NPEH.

SCHEDULE 13D

CUSIP No. 64107A105

1

Name of reporting person

ARECA, INC.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC, OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

0.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Row 8 and 10. Mr. Beauchamp directly owns 50% of the outstanding equity of each of Tillandsia, Areca and Chamaedorea. 8RCH directly owns 50% of the outstanding equity of each of Tillandsia, Areca and Chamaedorea. Each of Tillandsia, Areca and Chamaedorea directly owns approximately 18.60%, 25.77% and 24.11%, respectively, of the voting units of 8 Rivers and Mr. Beauchamp directly owns approximately 2.27% of the voting units of 8 Rivers. Thus, each of Mr. Beauchamp, Mrs. Beauchamp and 8RCH may be deemed to be a beneficial owner of the shares beneficially owned by 8 Rivers. 8 Rivers owns approximately 91.4% of the outstanding equity of NPEH and is the manager of NPEH and thus may be deemed to be a beneficial owner of the shares of Class A Common Stock deemed to be directly owned by NPEH. As indicated above, each of Tillandsia, Areca and Chamaedorea directly owns approximately 18.60%, 25.77% and 24.11%, respectively, of the voting units of 8 Rivers and none of Tillandsia, Areca or Chamaedorea controls 8 Rivers or NPEH.

SCHEDULE 13D

CUSIP No. 64107A105

1

Name of reporting person

CHAMAEDOREA, INC.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC, OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

0.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Row 8 and 10. Mr. Beauchamp directly owns 50% of the outstanding equity of each of Tillandsia, Areca and Chamaedorea. 8RCH directly owns 50% of the outstanding equity of each of Tillandsia, Areca and Chamaedorea. Each of Tillandsia, Areca and Chamaedorea directly owns approximately 18.60%, 25.77% and 24.11%, respectively, of the voting units of 8 Rivers and Mr. Beauchamp diretly owns approxiamtely 2.27% of the voting units of 8 Rivers. Thus, each of Mr. Beauchamp, Mrs. Beauchamp and 8RCH may be deemed to be a beneficial owner of the shares beneficially owned by 8 Rivers. 8 Rivers owns approximately 91.4% of the outstanding equity of NPEH and is the manager of NPEH and thus may be deemed to be a beneficial owner of the shares of Class A Common Stock deemed to be directly owned by NPEH. As indicated above, each of Tillandsia, Areca and Chamaedorea directly owns approximately 18.60%, 25.77% and 24.11%, respectively, of the voting units of 8 Rivers and none of Tillandsia, Areca or Chamaedorea controls 8 Rivers or NPEH.

SCHEDULE 13D

CUSIP No. 64107A105

1

Name of reporting person

Damian Beauchamp

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 26,729,880.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 26,729,880.00

11

Aggregate amount beneficially owned by each reporting person

26,729,880.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

25.6 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

Rows 8, 10 and 11: Mr. Beauchamp directly owns 50% of the outstanding equity of each of Tillandsia, Areca and Chamaedorea. Mrs. Beauchamp directly owns 100% of the interests of 8RCH. 8RCH directly owns 50% of the outstanding equity of each of Tillandsia, Areca and Chamaedorea. Each of Tillandsia, Areca and Chamaedorea directly owns approximately 18.60%, 25.77% and 24.11%, respectively, or an aggregate of approximately 68.48% of the voting units of 8 Rivers and Mr. Beauchamp directly owns approximately 2.27% of the voting units of 8 Rivers. 8 Rivers owns approximately 91.4% of the outstanding equity of NPEH and is the manager of NPEH and may be deemed to beneficially own the shares of Class A Common Stock issuable to NPEH upon the redemption and exchange of an equal number of Opco Units (and the cancellation of an equal number of shares of Class B Common Stock) held by NPEH. Because of the foregoing relationships, each of Mr. Beauchamp, Mrs. Beauchamp and 8RCH may be deemed to beneficially own the shares of Class A Common Stock that may be beneficially owned by 8 Rivers. Row 13: Based upon (i) 77,726,852 shares of Class A Common Stock issued and outstanding as of May 9, 2025, as reported in the Issuer Form 10-Q and (ii) 26,729,880 shares of Class A Common Stock issuable to NPEH upon the redemption and exchange of an equal number of Opco Units (and the cancellation of an equal number of shares of Class B Common Stock) held by NPEH.

SCHEDULE 13D

CUSIP No. 64107A105

1

Name of reporting person

8RCH, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 26,729,880.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 26,729,880.00

11

Aggregate amount beneficially owned by each reporting person

26,729,880.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

25.6 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Rows 8, 10 and 11: Mr. Beauchamp directly owns 50% of the outstanding equity of each of Tillandsia, Areca and Chamaedorea. Mrs. Beauchamp directly owns 100% of the interests of 8RCH. 8RCH directly owns 50% of the outstanding equity of each of Tillandsia, Areca and Chamaedorea. Each of Tillandsia, Areca and Chamaedorea directly owns approximately 18.60%, 25.77% and 24.11%, respectively, or an aggregate of approximately 68.48% of the voting units of 8 Rivers and Mr. Beauchamp directly owns approximately 2.27% of the voting units of 8 Rivers. 8 Rivers owns approximately 91.4% of the outstanding equity of NPEH and is the manager of NPEH and may be deemed to beneficially own the shares of Class A Common Stock issuable to NPEH upon the redemption and exchange of an equal number of Opco Units (and the cancellation of an equal number of shares of Class B Common Stock) held by NPEH. Because of the foregoing relationships, each of Mr. Beauchamp, Mrs. Beauchamp and 8RCH may be deemed to beneficially own the shares of Class A Common Stock that may be beneficially owned by 8 Rivers. Row 13: Based upon (i) 77,726,852 shares of Class A Common Stock issued and outstanding as of May 9, 2025, as reported in the Issuer Form 10-Q and (ii) 26,729,880 shares of Class A Common Stock issuable to NPEH upon the redemption and exchange of an equal number of Opco Units (and the cancellation of an equal number of shares of Class B Common Stock) held by NPEH.

SCHEDULE 13D

CUSIP No. 64107A105

1

Name of reporting person

Cynda Beauchamp

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 26,729,880.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 26,729,880.00

11

Aggregate amount beneficially owned by each reporting person

26,729,880.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

25.6 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

Rows 8, 10 and 11: Mr. Beauchamp directly owns 50% of the outstanding equity of each of Tillandsia, Areca and Chamaedorea. Mrs. Beauchamp directly owns 100% of the interests of 8RCH. 8RCH directly owns 50% of the outstanding equity of each of Tillandsia, Areca and Chamaedorea. Each of Tillandsia, Areca and Chamaedorea directly owns approximately 18.60%, 25.77% and 24.11%, respectively, or an aggregate of approximately 68.48% of the voting units of 8 Rivers and Mr. Beauchamp directly owns approximately 2.27% of the voting units of 8 Rivers. 8 Rivers owns approximately 91.4% of the outstanding equity of NPEH and is the manager of NPEH and may be deemed to beneficially own the shares of Class A Common Stock issuable to NPEH upon the redemption and exchange of an equal number of Opco Units (and the cancellation of an equal number of shares of Class B Common Stock) held by NPEH. Because of the foregoing relationships, each of Mr. Beauchamp, Mrs. Beauchamp and 8RCH may be deemed to beneficially own the shares of Class A Common Stock that may be beneficially owned by 8 Rivers. Row 13: Based upon (i) 77,726,852 shares of Class A Common Stock issued and outstanding as of May 9, 2025, as reported in the Issuer Form 10-Q and (ii) 26,729,880 shares of Class A Common Stock issuable to NPEH upon the redemption and exchange of an equal number of Opco Units (and the cancellation of an equal number of shares of Class B Common Stock) held by NPEH.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Class A Common Stock, par value $0.0001
(b)	Name of Issuer: NET Power Inc.
(c)	Address of Issuer's Principal Executive Offices: 320 Roney Street, Suite 200, Durham, NORTH CAROLINA , 27701.
Item 1 Comment: This Amendment No. 6 ("Amendment No. 6") to Schedule 13D amends the statement on Schedule 13D originally filed by each of 8 Rivers, NPEH, SK, Tillandsia, Areca and Chamaedorea (each, a "Reporting Person" and, collectively, the "Reporting Persons") on June 20, 2023, as amended by Amendment No. 1 on May 28, 2024, as amended by Amendment No. 2 on September 23, 2024, as amended by Amendment No. 3 on October 21, 2024, as amended by Amendment No. 4 on November 26, 2024 and as amended by Amendment No. 5 on July 17, 2025 (the "Schedule 13D"). Following the Sale, SK no longer beneficially owns 5% or greater of the Issuer's Class A Common Stock, and is therefore no longer a Reporting Person. Capitalized terms used but not defined in this Amendment No. 6 shall have the same meanings ascribed to them in the Schedule 13D. Except as otherwise provided herein, each Item of the Schedule 13D remains unchanged.
Item 2.	Identity and Background
(a)	Item 2(a) is hereby amended and supplemented by adding the following information: Damian Beauchamp ("Mr. Beauchamp") is a reporting person who owns 50% of the outstanding equity of each of Tillandsia, Areca and Chamaedorea, is a director of 8 Rivers and is the spouse of Mrs. Beauchamp. Cynda Beauchamp ("Mrs. Beauchamp") is a reporting person who owns 100% of equity interests of 8RCH, LLC and is the spouse of Mr. Beauchamp. 8RCH, LLC, a Delaware limited liability company ("8RCH") is a reporting person which owns 50% of the outstanding equity of each of Tillandsia, Areca and Chamaedorea.
(c)	Item 2(c) is hereby amended and supplemented by adding the following information: The principal occupation of Mr. Beauchamp is to serve as the chief executive officer of 8 Rivers. The principal occupation of Mrs. Beauchamp is private investor. The principal business of 8RCH is as an investment holding company whose principal business address is 8 The Green STE B, Dover, Delaware 19901.
(f)	Item 2(f) is hereby amended and supplemented by adding the following information: Mr. Beauchamp and Mrs. Beauchamp are citizens of the United States. 8RCH is a limited liability company organized under the laws of the State of Delaware.
Item 3.	Source and Amount of Funds or Other Consideration
	The information contained in Item 3 of Schedule 13D is hereby amended and supplemented by adding the following information: On July 30, 2025, SK, which directly owned 100% of each of Tillandsia, Areca and Chamaedorea, sold its interests in each of Tillandsia, Areca and Chamaedorea to Mr. Beauchamp and 8RCH. Following the Sale, Mr. Beauchamp directly owns 50% of each of Tillandsia, Areca and Chamaedorea and 8RCH directly owns 50% of each of Tillandsia, Areca and Chamaedorea. Mr. Beauchamp used personal funds to fund his portion of the aggregate purchase price. 8RCH used its working capital to fund its portion of the aggregate purchase price. Following the Sale, SK no longer beneficially owns 5% or greater of the Issuer's Class A Common Stock, and is therefore no longer a Reporting Person.
Item 4.	Purpose of Transaction
	The information contained in Item 4 of Schedule 13D is hereby amended and supplemented by adding the following information: On July 30, 2025, SK, which directly owned 100% of each of Tillandsia, Areca and Chamaedorea, sold its interests in each of Tillandsia, Areca and Chamaedorea to Mr. Beauchamp and 8RCH. Following the Sale, Mr. Beauchamp directly owns 50% of each of Tillandsia, Areca and Chamaedorea and 8RCH directly owns 50% of Tillandsia, Areca and Chamaedorea. Following the Sale, SK no longer beneficially owns 5% or greater of the Issuer's Class A Common Stock, and is therefore no longer a Reporting Person.
Item 5.	Interest in Securities of the Issuer
(a)	The information contained in Item 5(a) and (b) of the Schedule 13D is hereby amended and restated in its entirety as follows: The information contained in rows 7, 8, 9, 10, 11 and 13 of the cover pages for each Reporting Person is hereby incorporated by reference in its entirety. The percentages reported in this Amendment No. 6 are calculated based upon (i) 77,726,852 shares of Class A Common Stock issued and outstanding as of May 9, 2025, as reported in the Issuer Form 10-Q and (ii) 26,729,880 shares of Class A Common Stock issuable to NPEH upon the redemption and exchange of an equal number of Opco Units (and the cancellation of an equal number of shares of Class B Common Stock) held by NPEH.
(c)	Except as described in Schedule 13D and this Amendment No. 6, no transactions in the class of securities reported have been effected during the past sixty (60) days by the Reporting Persons.
(d)	Other than as described in this Amendment No. 6, to the knowledge of the Reporting Persons, no other person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities of Issuer covered by this Amendment No. 6.
(e)	Following the Sale, SK no longer beneficially owns 5% or greater of the Issuer's Class A Common Stock, and is therefore no longer a Reporting Person.
Item 7.	Material to be Filed as Exhibits.
	Joint Filing Agreement by and between 8 Rivers Capital, LLC, NPEH, LLC, Damian Beauchamp, Cynda Beauchamp, 8RCH, LLC, Tillandsia, Inc., Areca, Inc., Chamaedorea, Inc., and SK Inc. dated July 30, 2025.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

8 RIVERS CAPITAL, LLC

Signature:	/s/ Min Lee
Name/Title:	Min Lee, Acting General Counsel
Date:	07/30/2025

NPEH, LLC

Signature:	/s/ Min Lee
Name/Title:	Min Lee, Acting General Counsel
Date:	07/30/2025

SK INC.

Signature:	/s/ Munhyuk Jang
Name/Title:	Munhyuk Jang, Head of Corporate Management Department
Date:	07/30/2025

TILLANDSIA, INC.

Signature:	/s/ Kiseon Park
Name/Title:	Kiseon Park, President
Date:	07/30/2025

ARECA, INC.

Signature:	/s/ Jae Hun Jang
Name/Title:	Jae Hun Jang, President
Date:	07/30/2025

CHAMAEDOREA, INC.

Signature:	/s/ Munhyuk Jang
Name/Title:	Munhyuk Jang, Treasurer
Date:	07/30/2025

Damian Beauchamp

Signature:	/s/ Damian Beauchamp
Name/Title:	Damian Beauchamp
Date:	07/30/2025

8RCH, LLC

Signature:	/s/ Cynda Beauchamp
Name/Title:	Cynda Beauchamp, President & Secretary
Date:	07/30/2025

Cynda Beauchamp

Signature:	/s/ Cynda Beauchamp
Name/Title:	Cynda Beauchamp
Date:	07/30/2025

FAQ

How many Ralph Lauren (RL) shares were transferred in the July 30 Form 4?

1,500,000 Class B shares were gifted to an LLC managed by Mr. Lauren’s children.

Was the insider transaction a sale that could pressure RL stock?

No. The filing records a gift (Code G); no shares were sold on the open market, so no direct selling pressure exists.

Does Ralph Lauren still hold voting control after the transaction?

Yes. Through several trusts he or his spouse controls, Mr. Lauren still beneficially owns ~15 M Class B shares, preserving voting power.

Can the gifted Class B shares be converted to Class A?

Yes. Class B shares are convertible 1-for-1 into Class A at the holder’s discretion.

Why is the share price listed as $0 in the derivative table?

Because the transaction was a gift; no consideration was paid, so the price field is zero.