Energy Vault CFO exercises options, sells 65K shares

Energy Vault Holdings, Inc. Chief Financial Officer Michael Thomas Beer reported an option exercise and related share sale.

Rhea-AI Filing Summary

Energy Vault Holdings, Inc. Chief Financial Officer Michael Thomas Beer reported an option exercise and related share sale. On April 6, 2026, he exercised stock options for 50,000 shares of common stock at $1.17 per share and acquired those shares.

That same day, he sold 65,000 shares of common stock at $3.18 per share in open-market transactions. After these trades, he directly owned 1,060,945 common shares. The sales were made under a pre-arranged Rule 10b5-1 trading plan adopted on December 19, 2025.

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 ($207K)

Approx. gross sale proceeds $207K

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	$3.18	$207K

Holdings After Transaction: Stock Option — 750,000 contracts (Direct); Common Stock — 1,060,945 shares (Direct)

Footnotes (2)

1. F1. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted on December 19, 2025.
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

Options exercised: 50,000 shares Exercise price: $1.17 per share Shares sold: 65,000 shares +4 more

7 metrics

Options exercised 50,000 shares Stock options converted to common stock on April 6, 2026

Exercise price $1.17 per share Stock option exercise price for 50,000 shares

Shares sold 65,000 shares Open-market sale of common stock on April 6, 2026

Sale price $3.18 per share Price for 65,000 common shares sold

Post-transaction holdings 1,060,945 shares Common stock directly owned after transactions

10b5-1 plan adoption date December 19, 2025 Plan governing the reported stock sales

Option expiration May 16, 2034 Expiration date of exercised stock option grant

Key Terms

Rule 10b5-1 trading plan, Stock Option, Exercise or conversion of derivative security, Sale in open market or private transaction

4 terms

Rule 10b5-1 trading plan regulatory

"The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted on December 19, 2025."

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

"security_title: "Stock Option" with 50,000 underlying shares of common stock."

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.

Exercise or conversion of derivative security financial

"transaction_code_description: "Exercise or conversion of derivative security" for the option transaction."

Sale in open market or private transaction financial

"transaction_code_description: "Sale in open market or private transaction" for the 65,000-share sale."

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did NRGV CFO Michael Thomas Beer report?

He reported exercising stock options for 50,000 Energy Vault shares at $1.17 and selling 65,000 common shares at $3.18. These combined transactions converted options into stock and then partially into cash while leaving him with over one million shares held directly.

How many Energy Vault (NRGV) shares does the CFO hold after this Form 4?

After the reported transactions, CFO Michael Thomas Beer directly owns 1,060,945 shares of Energy Vault common stock. This reflects his holdings following the 50,000-share option exercise and the 65,000-share open-market sale executed on April 6, 2026.

At what prices did the NRGV CFO exercise options and sell shares?

He exercised stock options at an exercise price of $1.17 per share and sold common shares at $3.18 per share. This spread represents the economic value realized from converting previously granted options into stock and then selling a portion of those and other shares.

Were the NRGV CFO’s April 6, 2026 share sales pre-planned?

Yes. The Form 4 notes that the sales were effected under a Rule 10b5-1 trading plan adopted on December 19, 2025. Such plans allow insiders to schedule trades in advance, helping separate routine liquidity events from discretionary market-timed decisions.

What stock option terms are disclosed for the NRGV CFO in this filing?

The filing shows a stock option for 50,000 underlying shares, exercised at $1.17 per share, with an expiration date of May 16, 2034. A footnote explains it vested 25% on June 30, 2025, with the remainder vesting in 12 substantially similar quarterly installments.

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

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Accepted by SEC EDGAR 04/08/2026 - 06:56 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)
04/06/2026

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	04/06/2026		M		50,000	A	$1.17	1,125,945	D
Common Stock	04/06/2026		S		65,000(1)	D	$3.18	1,060,945	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	04/06/2026		M			50,000	(2)	05/16/2034	Common Stock	50,000	$0	750,000	D

Explanation of Responses:

1. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted on December 19, 2025.

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	04/08/2026
	** 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)