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

Rhea-AI Filing Summary

Energy Vault Holdings director and CEO Robert Piconi reported an open-market purchase of 22,500 shares of the company's common stock on 08/29/2025 at a weighted-average price of $1.9159 per share. After the reported purchase, Mr. Piconi is shown as beneficially owning 20,110,026 shares directly. Two separate indirect holdings are disclosed: Piconi 2021 Delaware Trust and Piconi Family 2021 Delaware Trust, each holding 4,307,946 shares, for which he serves as investment advisor. The filing includes a footnote that the reported purchase price is a weighted average of transactions executed between $1.905 and $1.92 and that the reporting person will provide detailed per-price allocation on request.

Positive

• Insider purchase disclosed: CEO and director acquired 22,500 shares on 08/29/2025 at a weighted-average price of $1.9159.
• Clear ownership disclosure: Filing specifies direct ownership of 20,110,026 shares and indirect holdings of 4,307,946 shares in each of two trusts.

Negative

• None.

Insights

Financial Analyst

TL;DR: Insider CEO purchased a modest block of shares; disclosure shows substantial direct and trust holdings.

From a trading-impact perspective, the transaction is small relative to the reported direct holding of 20.1 million shares, so it is unlikely to materially affect supply or valuation by itself. The weighted-average price range ($1.905–$1.92) and the reporting persons willingness to disclose per-trade allocation support transparency. Investors may note insider buying as a signal of confidence, but the filing does not provide context such as total outstanding shares or timing rationale.

Corporate Governance Expert

TL;DR: Filing is standard, clearly attributes direct and indirect ownership and includes required explanatory footnotes.

The Form 4 properly identifies the reporting persons roles (Director and CEO) and discloses both direct ownership and indirect holdings via two trusts for which he is investment advisor. Signature and procedural elements appear present. The document does not disclose any plan-based transactions or derivative activity; it solely reports an open-market purchase and the as-reported beneficial ownership positions.

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^*

Piconi Robert

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
08/29/2025

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	08/29/2025		P		22,500	A	$1.9159(1)	20,110,026	D
Common Stock								4,307,946	I	See Footnote(2)
Common Stock								4,307,946	I	See Footnote(3)

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. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.905 to $1.92. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

2. Held by Piconi 2021 Delaware Trust for which the Reporting Person serves as investment advisor.

3. Held by Piconi Family 2021 Delaware Trust for which the Reporting Person serves as investment advisor.

Remarks:

	/s/ Michael Beer, Chief Financial Officer	08/29/2025
	** 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 shares did Robert Piconi buy in the Form 4 for NRGV?

The filing reports an open-market purchase of 22,500 shares of common stock on 08/29/2025.

At what price were the NRGV shares purchased by the reporting person?

The reported weighted-average purchase price was $1.9159, with individual trades ranging from $1.905 to $1.92.

How many NRGV shares does Robert Piconi beneficially own after the transaction?

The Form 4 shows 20,110,026 shares owned directly after the transaction, plus two indirect trust holdings of 4,307,946 shares each.

Are any derivative or plan-based transactions reported in this Form 4?

No. The filing shows only a non-derivative open-market purchase; Table II (derivatives) contains no reported transactions.

Who holds the indirect trust shares disclosed in the filing?

The filing identifies the holders as the Piconi 2021 Delaware Trust and the Piconi Family 2021 Delaware Trust, for which the reporting person serves as investment advisor.