Energy Vault (NRGV) Form 144 Details Three Large Insider Sales and Proposed 75,000-Share Sale

Rhea-AI Filing Summary

Form 144 notice for Energy Vault Holdings, Inc. (NRGV) reports proposed and recent sales of common stock by Akshay V. Ladwa. The filing lists a proposed sale of 75,000 shares through Fidelity Brokerage Services on 09/25/2025 with an aggregate market value of $233,030.44 against 161,855,407 shares outstanding.

The filing also discloses multiple restricted stock vesting events in 2023 that supplied shares sold as compensation, and four recent sales in 2025: 15,046 shares on 07/18/2025 for $12,194.78 and three separate 75,000-share sales on 09/22, 09/23 and 09/24/2025 with gross proceeds listed for each sale. The filer certifies absence of undisclosed material information; fields for filer CIK and plan-adoption date are not provided in the document.

Positive

• Detailed trade disclosure showing dates, amounts, and gross proceeds for recent sales
• Source of shares disclosed via a schedule of restricted stock vesting events in 2023
• Use of a registered broker (Fidelity Brokerage Services) for the proposed sale

Negative

• Concentrated insider selling with multiple large sales (three ~75,000-share transactions) in a short period
• Missing filer identifiers (CIK not provided) which reduces traceability of the filing
• No Rule 10b5-1 plan date provided so it is unclear whether sales follow a pre-established trading plan

Insights

Securities Analyst

TL;DR: Insider sales of common stock are documented; disclosure is specific but reflects notable volume relative to single-day transactions.

The filing provides clear transactional detail: proposed sale of 75,000 shares on 09/25/2025 via Fidelity and four recent sales with stated gross proceeds. The schedule of 2023 restricted stock vesting events ties the shares to compensation, explaining the source of securities. From a market-impact perspective, the filing quantifies each trade and the aggregate market value for the proposed sale, enabling investors to assess trading volume and potential supply pressure. The document omits filer CIK and the date of any Rule 10b5-1 plan, limiting assessment of whether sales follow an established trading plan.

Corporate Governance Expert

TL;DR: Multiple large insider sales in close succession raise governance and signaling considerations; incomplete procedural details are notable.

The filer, identified by name, executed substantial sales (three consecutive ~75,000-share sales plus a smaller July sale) over a short period and filed a Form 144 for an additional 75,000-share proposed sale. While the vesting table shows shares were acquired as compensation in 2023, the filing lacks a declared Rule 10b5-1 plan adoption date and omits the filer CIK, which constrains transparency around prearranged trading instructions. For stakeholders focused on insider behavior and disclosure processes, these omissions are material to evaluating compliance posture and insider intent.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Fidelity Brokerage Services LLC 900 Salem Street Smithfield RI 02917	75000	233030.44	161855407	09/25/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	01/01/2023	Restricted Stock Vesting	Issuer			6840	01/01/2023	Compensation
Common	03/31/2023	Restricted Stock Vesting	Issuer			7396	03/31/2023	Compensation
Common	05/31/2023	Restricted Stock Vesting	Issuer			20450	05/31/2023	Compensation
Common	06/30/2023	Restricted Stock Vesting	Issuer			5813	06/30/2023	Compensation
Common	08/31/2023	Restricted Stock Vesting	Issuer			12645	08/31/2023	Compensation
Common	09/30/2023	Restricted Stock Vesting	Issuer			5809	09/30/2023	Compensation
Common	11/06/2023	Restricted Stock Vesting	Issuer			16047	11/06/2023	Compensation

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Akshay V. Ladwa 4165 East Thousand Oaks Blvd. Suite 100 Westlake Village CA 91362	Common	07/18/2025	15046	12194.78
Akshay V. Ladwa 4165 East Thousand Oaks Blvd. Suite 100 Westlake Village CA 91362	Common	09/22/2025	75000	228272.29
Akshay V. Ladwa 4165 East Thousand Oaks Blvd. Suite 100 Westlake Village CA 91362	Common	09/23/2025	75000	242631.64
Akshay V. Ladwa 4165 East Thousand Oaks Blvd. Suite 100 Westlake Village CA 91362	Common	09/24/2025	75000	223232.78

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

Who is the seller named in the Form 144 for NRGV?

The seller is Akshay V. Ladwa as listed in the filing.

How many shares is the filer proposing to sell on 09/25/2025?

The filing lists a proposed sale of 75,000 common shares on 09/25/2025 with an aggregate market value of $233,030.44.

What recent insider sales does the Form 144 disclose for NRGV?

The filing discloses sales on 07/18/2025 (15,046 shares, $12,194.78) and three sales on 09/22/2025, 09/23/2025 and 09/24/2025 of 75,000 shares each with gross proceeds shown for each date.

What is the source of the securities to be sold according to the filing?

The securities were acquired through restricted stock vesting during 2023, listed with specific vesting dates and amounts.

Does the Form 144 indicate a Rule 10b5-1 trading plan?

No. The filing does not provide a plan adoption date or explicit indication that sales are pursuant to a Rule 10b5-1 plan.

Are any required filer identifiers missing from the document?

Yes. The filing shows the Filer CIK field without a value in the provided content.