Energy Vault CFO sells 65K shares, exercises options

Energy Vault Holdings, Inc. Chief Financial Officer Michael Thomas Beer reported an open-market sale of 65,000 shares of common stock at an average price of $4.08 per share.

Rhea-AI Filing Summary

Energy Vault Holdings, Inc. Chief Financial Officer Michael Thomas Beer reported an open-market sale of 65,000 shares of common stock at an average price of $4.08 per share. On the same day, he exercised stock options to acquire 50,000 shares of common stock at an exercise price of $1.17 per share. The sale was effected under a pre-arranged Rule 10b5-1 trading plan, and the exercised options relate to an award that vests over time through quarterly installments.

Insights

Equity compensation and insider-trading analyst

CFO executed a planned option exercise and partial share sale, a routine mixed transaction.

CFO Michael Thomas Beer sold 65,000 common shares at $4.08 while exercising options for 50,000 shares at $1.17. The code S indicates an open-market sale, and code M shows a derivative exercise converting options into common stock.

A key detail is that the sale was made pursuant to a Rule 10b5-1 trading plan, suggesting the trades were pre-scheduled rather than opportunistic. One option grant continues vesting in quarterly installments and carries an expiration date in 2034, indicating ongoing equity-based incentives alongside this liquidity event.

Insider Trade Summary

Exercise and sale activity reported; no spread calculated

Exercise and Sale 3 txns

Insider Beer Michael Thomas

Role Chief Financial Officer

Sold 65,000 shs ($265K)

Approx. gross sale proceeds $265K

Approx. exercise cost $59K

Type	Security	Shares	Price	Value
Exercise	Stock Option	50,000	$0.00	$0.00
Exercise	Common Stock	50,000	$1.17	$59K
Sale	Common Stock	65,000	$4.08	$265K

Holdings After Transaction: Stock Option — 700,000 contracts (Direct); Common Stock — 1,021,806 shares (Direct)

Footnotes (2)

1. F1. The sale reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan.
2. F2. The stock option vested as to 25% of the underlying shares on June 30, 2025, and as to the remaining of the underlying shares in 12 substantially similar quarterly installments thereafter.

Key Figures

Shares sold: 65,000 shares Sale price: $4.08/share Options exercised: 50,000 shares +3 more

6 metrics

Shares sold 65,000 shares Open-market sale of common stock at $4.08 per share

Sale price $4.08/share Average price for 65,000 common shares sold

Options exercised 50,000 shares Common shares acquired via option exercise

Option exercise price $1.17/share Strike price for exercised stock options

Remaining options 700,000 options Stock options remaining after 50,000-share exercise

Option expiration May 16, 2034 Expiration date of the stock option award

Key Terms

Rule 10b5-1 trading plan, stock option, derivative security, open-market sale

4 terms

Rule 10b5-1 trading plan regulatory

"The sale reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan."

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

stock option financial

"The stock option vested as to 25% of the underlying shares on June 30, 2025..."

A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.

derivative security financial

"transaction_code_description: Exercise or conversion of derivative security"

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

open-market sale financial

"transaction_action: open-market sale"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

FAQ

What did Energy Vault (NRGV) CFO Michael Thomas Beer do in this Form 4?

Energy Vault CFO Michael Thomas Beer reported selling 65,000 shares of common stock and exercising options for 50,000 shares. The transactions combine an open-market sale with a derivative exercise, reflecting both liquidity-taking and continued equity exposure through exercised shares and remaining options.

How many Energy Vault (NRGV) shares did the CFO sell and at what price?

The CFO sold 65,000 shares of Energy Vault common stock at an average price of about $4.08 per share. This sale was reported as an open-market or private transaction and was executed under a pre-arranged Rule 10b5-1 trading plan, indicating advance scheduling.

What stock options did the Energy Vault (NRGV) CFO exercise in this filing?

He exercised stock options covering 50,000 shares of Energy Vault common stock at an exercise price of $1.17 per share. These options stem from an award that vested 25% on June 30, 2025, with the remainder vesting in 12 substantially equal quarterly installments thereafter.

Was the Energy Vault (NRGV) CFO’s share sale part of a Rule 10b5-1 plan?

Yes. The filing states that the sale reported was effected under a Rule 10b5-1 trading plan. Such plans are established in advance, allowing insiders to sell shares on a pre-set schedule, which can reduce the significance of trade timing as a market signal.

What is the status of the CFO’s remaining stock options at Energy Vault (NRGV)?

After exercising options for 50,000 shares, the related stock option award shows 700,000 derivative securities remaining. These options are scheduled to expire on May 16, 2034, and continue to vest in substantially similar quarterly installments according to the vesting terms described.

Does this Energy Vault (NRGV) Form 4 indicate only sales, or also acquisitions?

The Form 4 shows a mixed pattern: an open-market sale of 65,000 shares and an acquisition of 50,000 shares through option exercise. This combination reflects both monetization of shares and continued equity involvement via exercised stock and remaining unexercised options.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 07/08/2026 - 05:13 PM Accepted by SEC EDGAR 07/08/2026 - 05:12 PM Learn about SEC filing dates

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^*

Beer Michael Thomas

(Last) (First) (Middle)

4165 EAST THOUSAND OAKS BLVD

SUITE 100

(Street)

WESTLAKE VILLAGE CALIFORNIA 91362

(City) (State) (Zip)

UNITED STATES

(Country)

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 Financial Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/06/2026

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

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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

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	07/06/2026		M		50,000	A	$1.17	1,086,806	D
Common Stock	07/06/2026		S		65,000(1)	D	$4.08	1,021,806	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
Stock Option	$1.17	07/06/2026		M			50,000	(2)	05/16/2034	Common Stock	50,000	$0	700,000	D

Explanation of Responses:

1. The sale reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan.

2. The stock option vested as to 25% of the underlying shares on June 30, 2025, and as to the remaining of the underlying shares in 12 substantially similar quarterly installments thereafter.

Remarks:

	/s/ Amy Blakeway, Chief Legal Officer	07/08/2026
	** 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.
* Form 4: SEC 1474 (03-26)