Energy Vault CEO discloses insider purchase and RSU tax withholding

Q: What insider transactions did NRGV’s CEO report?

Shares withheld for taxes on RSU vesting (2,642 at $3.54 on 11/13/2025 ) and an open-market purchase of 10,000 shares at a $2.9958 weighted average on 11/14/2025 .

Q: How many NRGV shares does the reporting person hold directly after the transactions?

Direct beneficial ownership is reported as 20,207,242 shares.

Q: Were any NRGV shares held indirectly?

Yes. 4,307,946 shares are held by the Piconi 2021 Delaware Trust and 4,307,946 shares by the Piconi Family 2021 Delaware Trust, with the filer as investment advisor.

Q: Was the purchase price a single trade for NRGV?

No. The $2.9958 is a weighted average; trades occurred between $2.995 and $3.00 as disclosed.

Q: What roles does the reporting person hold at NRGV?

Reported as Chief Executive Officer , Director , and 10% Owner .

Filing Impact

(Neutral)

Filing Sentiment

(Positive)

Form Type

Rhea-AI Filing Summary

Energy Vault Holdings (NRGV) CEO and director reported insider transactions on Form 4. On 11/13/2025, 2,642 shares of common stock were withheld at $3.54 to cover taxes upon RSU vesting (Code F). On 11/14/2025, the reporting person purchased 10,000 shares at a weighted average price of $2.9958 (Code P).

Following these transactions, directly held shares were 20,207,242. Additional indirect holdings include 4,307,946 shares held by the Piconi 2021 Delaware Trust and 4,307,946 shares held by the Piconi Family 2021 Delaware Trust, where the reporting person serves as investment advisor.

Insights

Routine Form 4: tax withholding and open-market buy.

The filing lists two standard items: shares withheld to satisfy RSU tax obligations (Code F) and an open-market purchase (Code P) at a weighted average price. Such entries update beneficial ownership and reflect ordinary equity compensation and trading activity.

The purchase price range is disclosed, and the filer offers to provide trade-by-trade details upon request. Indirect holdings are reported through two Delaware trusts where the filer is investment advisor. Actual market impact depends on future disclosures and holder activity.

Insider Trade Summary

Net Buyer: 10,000 shares ($29,958)

Net Buy 4 txns

Insider Piconi Robert

Role Chief Executive Officer

Bought 10,000 shs ($30K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	10,000	$2.9958	$30K
Tax Withholding	Common Stock	2,642	$3.54	$9K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 20,207,242 shares (Direct); Common Stock — 4,307,946 shares (Indirect, See Footnote)

Footnotes (1)

Represents shares withheld by the Issuer to satisfy the reporting person's tax liability on vesting of restricted stock units. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.995 to $3. 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. Held by Piconi 2021 Delaware Trust for which the Reporting Person serves as investment advisor. Held by Piconi Family 2021 Delaware Trust for which the Reporting Person serves as investment advisor.

Form 4 Insider Transactions: What Each Field Means →

11/14/2025 - 02:51 PM

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^*

Piconi Robert

(Last)

(First)

(Middle)

4165 EAST THOUSAND OAKS BLVD, SUITE 100

(Street)

WESTLAKE VILLAGE

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)
11/13/2025

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	11/13/2025		F		2,642⁽¹⁾	D	$3.54	20,197,242	D
Common Stock	11/14/2025		P		10,000⁽²⁾	A	$2.9958	20,207,242	D
Common Stock								4,307,946	I	See Footnote⁽³⁾
Common Stock								4,307,946	I	See Footnote⁽⁴⁾

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Represents shares withheld by the Issuer to satisfy the reporting person's tax liability on vesting of restricted stock units.

2. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.995 to $3. 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.

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

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

Remarks:

	/s/ Brad Eastman, Chief Legal Officer	11/14/2025
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did NRGV’s CEO report?

Shares withheld for taxes on RSU vesting (2,642 at $3.54 on 11/13/2025) and an open-market purchase of 10,000 shares at a $2.9958 weighted average on 11/14/2025.

How many NRGV shares does the reporting person hold directly after the transactions?

Direct beneficial ownership is reported as 20,207,242 shares.

Were any NRGV shares held indirectly?

Yes. 4,307,946 shares are held by the Piconi 2021 Delaware Trust and 4,307,946 shares by the Piconi Family 2021 Delaware Trust, with the filer as investment advisor.

What do the transaction codes F and P mean on the Form 4?

Code F indicates shares withheld for taxes on equity vesting; Code P indicates an open-market purchase of common stock.

Was the purchase price a single trade for NRGV?

No. The $2.9958 is a weighted average; trades occurred between $2.995 and $3.00 as disclosed.

What roles does the reporting person hold at NRGV?

Reported as Chief Executive Officer, Director, and 10% Owner.