[Form 4] Energy Vault Holdings, Inc. Insider Trading Activity

Rhea-AI Filing Summary

The filing shows that Akshay Ladwa, Chief Operations Officer and director of Energy Vault Holdings, Inc. (NRGV), had 8,210 shares withheld on 09/04/2025 to satisfy tax withholding on the vesting of restricted stock units, at an indicated per-share price of $1.135. After this withholding, Mr. Ladwa beneficially owns 2,172,832 shares, held directly. The form is a routine Section 16 disclosure reporting a tax-related disposition rather than an open-market sale or new grant.

Positive

• Substantial ongoing ownership: Reporting person retains 2,172,832 direct shares, indicating continued equity stake.
• Routine, non-sales disposition: The 8,210-share reduction was for tax withholding on vested RSUs, not an active market sale.

Negative

• Minor increase in circulating supply: 8,210 shares were withheld and thus removed from the officer's holding, slightly increasing free float.

Insights

Securities Analyst

TL;DR: Routine tax-withholding disposition; large residual direct holding remains, so limited near-term market impact.

The reported transaction is a mechanical withholding of 8,210 shares to cover taxes on vested RSUs rather than an active sale for liquidity. The per-share figure of $1.135 is included as the withholding calculation reference. With 2,172,832 shares remaining beneficially owned directly, the officer retains substantial equity exposure to NRGV. For investors, this filing signals no change in insider conviction but does increase the free-float by a small amount.

Corporate Governance Expert

TL;DR: Administrative withholding disclosure; consistent with typical executive equity compensation practices.

This Form 4 documents compliance with reporting obligations following RSU vesting and tax withholding. The filing includes the required explanatory footnote that shares were withheld to meet tax liabilities. It does not show option exercises, open-market transactions, or transfers to related parties. From a governance perspective, this is standard and does not indicate director departure or signaling through sales.

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^*

Ladwa Akshay

(Last) (First) (Middle)

4165 EAST THOUSAND OAKS BLVD, SUITE 100

(Street)

WESTLAKE VILLAGE CA 91362

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Energy Vault Holdings, Inc. [ NRGV ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Operations Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/04/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	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
Common Stock	09/04/2025		F		8,210(1)	D	$1.135	2,172,832	D

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

Explanation of Responses:

1. Represents shares withheld by the Issuer to satisfy the reporting person's tax liability on vesting of restricted stock units.

Remarks:

	/s/ Michael Beer, Chief Financial Officer	09/05/2025
	** 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).
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.

FAQ

What did Akshay Ladwa report on Form 4 for NRGV?

The filing reports that 8,210 shares were withheld on 09/04/2025 to satisfy tax obligations from RSU vesting; resulting beneficial ownership is 2,172,832 shares.

Was the transaction a sale of shares by the insider (NRGV)?

No. The transaction code indicates a withholding of shares for taxes related to vested restricted stock units, not an open-market sale.

What price is shown on the Form 4 for the withheld shares?

The filing lists a per-share price of $1.135 associated with the withheld 8,210 shares.

Does this Form 4 indicate a change in the officer’s role or relationship with NRGV?

No. The form continues to list the reporting person as Chief Operations Officer and director and contains no indication of role change.

How might this filing affect NRGV investors?

This is a routine administrative disclosure; the withholding is small relative to total shares outstanding (8,210 shares) and is unlikely to be material to valuation.