Energy Vault COO Ladwa disposes of 150k NRGV shares in planned trades

Rhea-AI Filing Summary

Energy Vault Holdings, Inc. (NRGV) Chief Operations Officer Akshay Ladwa reported two open-market sales under a Rule 10b5-1 trading plan on 09/24/2025 and 09/25/2025. The filings show sales of 75,000 shares on each date at prices of $2.976 and $3.107, respectively, reducing reported direct beneficial ownership from 2,009,582 shares to 1,934,582. The Form 4 was signed by the company’s Chief Legal Officer on 09/26/2025 and the filer identified their role as Chief Operations Officer. The filer disclosed that the transactions were effected pursuant to a Rule 10b5-1 plan.

Positive

• Transactions disclosed under a Rule 10b5-1 plan, indicating the sales were prearranged and compliant with insider-trading procedures
• Form 4 includes full required details: reporting person, role, dates, share amounts, and sale prices

Negative

• Reported direct holdings decreased by 150,000 shares (from 2,009,582 to 1,934,582) following the two sales
• No additional context provided about the trading plan terms or purpose of the sales beyond the 10b5-1 remark

Insights

Securities Analyst

TL;DR: Insider sold 150,000 shares under a prearranged 10b5-1 plan, modestly reducing direct holdings without additional disclosures.

The Form 4 indicates routine sales by an officer under a stated Rule 10b5-1 trading plan, which typically signals preplanned disposition rather than ad-hoc action. Total proceeds can be approximated from the reported prices, and the filings clearly show direct beneficial ownership declined from 2,009,582 to 1,934,582 shares. There are no derivative transactions reported, no amendments, and no indications of other contemporaneous changes to ownership form or indirect holdings. For investors, this is a clear, documented insider sale but the filing does not include any explanatory context beyond the 10b5-1 remark.

Corporate Governance Expert

TL;DR: Disclosure follows SEC reporting norms; use of a 10b5-1 plan supports compliance but provides limited signal about intent.

The Form 4 properly identifies the reporting person, role (Chief Operations Officer), transaction dates, amounts, and prices, and includes the customary 10b5-1 disclosure. From a governance standpoint, documenting the plan-driven nature of the sales supports procedural compliance and reduces ambiguity about timing. The filing does not show any departures from reporting requirements and contains a manual signature by the Chief Legal Officer. Materiality is limited to the share reduction amount; no other governance actions or related-party movements are disclosed.

Insider Trade Summary

Net Seller: 150,000 shares ($456,225)

Net Sell 2 txns

Insider Ladwa Akshay

Role Chief Operations Officer

Sold 150,000 shs ($456K)

Type	Security	Shares	Price	Value
Sale	Common Stock	75,000	$3.107	$233K
Sale	Common Stock	75,000	$2.976	$223K

Holdings After Transaction: Common Stock — 1,934,582 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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).

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)
09/24/2025

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	09/24/2025		S		75,000(1)	D	$2.976	2,009,582	D
Common Stock	09/25/2025		S		75,000(1)	D	$3.107	1,934,582	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. The sale reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan.

Remarks:

	/s/ Brad Eastman, Chief Legal Officer	09/26/2025
	** 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 insider transactions did NRGV report for Akshay Ladwa?

The Form 4 reports two sales of common stock by Akshay Ladwa: 75,000 shares on 09/24/2025 at $2.976 and 75,000 shares on 09/25/2025 at $3.107.

How did these Form 4 sales affect Akshay Ladwa’s ownership in NRGV?

Reported direct beneficial ownership decreased from 2,009,582 shares to 1,934,582 shares after the two transactions.

Were the sales by the NRGV officer part of a trading plan?

Yes. The Form 4 states the sales were effected pursuant to a Rule 10b5-1 trading plan.

What role does the reporting person hold at Energy Vault?

The filer is identified as the company’s Chief Operations Officer.

Are any derivative transactions or other ownership changes reported?

No. The Form 4 shows only the two non-derivative common stock sales and no derivative transactions or indirect ownership changes.