NRGV Form 4: COO Akshay Ladwa Disposes of 75,000 Shares

Rhea-AI Filing Summary

Akshay Ladwa, Chief Operations Officer of Energy Vault Holdings, Inc. (NRGV), reported a sale of 75,000 shares of the company's common stock on 09/23/2025 at a price of $3.235 per share. After the reported transaction, Mr. Ladwa beneficially owns 2,084,582 shares, held directly. The filing states the sale was effected pursuant to a Rule 10b5-1 trading plan, indicating the disposition followed a pre-established trading arrangement. The Form 4 was signed and submitted by the company’s Chief Legal Officer.

Insights

Financial Analyst

TL;DR Routine insider sale under a Rule 10b5-1 plan; notable for size but not transformative to company fundamentals.

The reported sale of 75,000 shares at $3.235 reduces the reporting person's direct stake to 2,084,582 shares. Because the transaction was conducted under a Rule 10b5-1 trading plan, it is a pre-arranged disposition rather than an ad-hoc sale, which typically reduces immediate signaling concerns. From an equity-impact perspective, the transaction is relatively small versus typical free float levels for most public companies and does not, by itself, change capital structure or operational outlook. Continued disclosure compliance is confirmed by the timely Form 4 filing.

Corporate Governance Expert

TL;DR Disclosure is orderly and compliant; transaction follows an authorized trading plan which aligns with governance best practices.

The Form 4 documents a direct sale by the COO and explicitly notes the use of a Rule 10b5-1 plan, which provides an affirmative defense against insider trading claims when properly adopted and executed. The filing lists specific share counts and price, and was signed by the company’s Chief Legal Officer, reflecting standard internal review. This filing represents routine insider activity with appropriate governance controls disclosed.

Insider Trade Summary

Net Seller: 75,000 shares ($242,625)

Net Sell 1 txn

Insider Ladwa Akshay

Role Chief Operations Officer

Sold 75,000 shs ($243K)

Type	Security	Shares	Price	Value
Sale	Common Stock	75,000	$3.235	$243K

Holdings After Transaction: Common Stock — 2,084,582 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)
09/23/2025

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	09/23/2025		S(1)		75,000	D	$3.235	2,084,582	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	09/25/2025
	** 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 transaction did Energy Vault Holdings (NRGV) report?

The company reported that COO Akshay Ladwa sold 75,000 shares of common stock on 09/23/2025 at $3.235 per share.

Was the sale by the insider part of a pre-established trading plan?

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

How many shares does the reporting person own after the transaction?

Following the reported sale, the reporting person beneficially owns 2,084,582 shares, held directly.

Who signed the Form 4 for Energy Vault (NRGV)?

The filing was signed by Brad Eastman, Chief Legal Officer, on 09/25/2025.

Does the Form 4 disclose whether the sale was discretionary or pre-planned?

The Form 4 explicitly states the sale was conducted under a Rule 10b5-1 plan, indicating it was pre-planned.