Energy Vault (NRGV) COO receives 475,000-share RSU equity grant

Rhea-AI Filing Summary

Ladwa Akshay reported acquisition or exercise transactions in this Form 4 filing.

Energy Vault Holdings, Inc. reported that Chief Operations Officer Akshay Ladwa received a grant of 475,000 shares of Common Stock in the form of restricted stock units (RSUs) at no cash cost per share. Following this equity award, his direct holdings increased to 2,289,320 shares.

The RSUs have a 3-year vesting period, with 33.2% vesting after 12 months and the remaining units vesting in 8.35% installments each quarter thereafter, subject to his continued service. The vesting commencement date for this award is March 31, 2026, so the economic benefit will be realized over time rather than immediately.

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

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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^*

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)
03/12/2026

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	03/12/2026		A		475,000(1)	A	$0	2,289,320	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. Reflects an award of restricted stock units (RSUs). Each RSU represents a contingent right to receive one share of Common Stock. The RSUs vest with a 3-Year vesting period (subject to the Reporting Person's continued service to the Company or its subsidiaries through the applicable vesting date), with 33.2% vesting after 12 months, followed by quarterly vesting of 8.35%. Vesting commencement date is 3/31/2026.

Remarks:

	/s/ Amy Blakeway, Chief Legal Officer	03/16/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What insider transaction did Energy Vault (NRGV) report for Akshay Ladwa?

Energy Vault reported that Chief Operations Officer Akshay Ladwa received a grant of 475,000 restricted stock units. These RSUs represent rights to receive Common Stock and increased his direct holdings to 2,289,320 shares, aligning his compensation more closely with shareholder equity over time.

How many shares are included in the RSU award to Energy Vault’s COO?

The equity award to Energy Vault’s Chief Operations Officer covers 475,000 restricted stock units. Each RSU corresponds to one share of Common Stock, meaning the grant represents potential future delivery of 475,000 shares, subject to the vesting schedule and continued service conditions.

What are the vesting terms of the 475,000 RSUs at Energy Vault (NRGV)?

The 475,000 RSUs vest over a 3-year period starting March 31, 2026. About 33.2% vest after 12 months, and the remaining units vest quarterly in 8.35% increments, contingent on the executive’s continued service with Energy Vault or its subsidiaries through each vesting date.

Does the Energy Vault COO pay cash for the 475,000 RSU grant?

No cash was paid per share for the COO’s 475,000-share RSU grant, as indicated by a zero transaction price. RSU awards are typically part of equity-based compensation and convert into shares over time as vesting conditions tied to continued employment are satisfied.

How did the RSU grant affect Akshay Ladwa’s Energy Vault shareholdings?

Following the RSU grant, Akshay Ladwa’s direct holdings increased to 2,289,320 shares of Common Stock. The additional 475,000 RSUs vest over three years beginning March 31, 2026, meaning the full benefit of this grant will be realized gradually as vesting milestones are met.

Is the 475,000-share RSU grant to the Energy Vault COO an open-market purchase?

The 475,000-share transaction is classified as a grant or award acquisition, not an open-market purchase. It reflects restricted stock units granted as compensation, with vesting based on continued service, rather than shares bought by the executive on the public market.