Energy Vault Insider Purchase: Robert Piconi Acquires 55,000 NRGV Shares
Rhea-AI Filing Summary
Robert Piconi, identified as Chief Executive Officer, Director and a >10% owner of Energy Vault Holdings, Inc. (NRGV), reported purchases on 08/28/2025. The Form 4 shows a purchase of 55,000 shares of common stock at a weighted average price of $1.7057 per share (prices ranged $1.64–$1.79). After the reported transaction, 20,087,526 shares are shown as directly beneficially owned. Two separate indirect holdings of 4,307,946 shares each are disclosed and attributed in footnotes to the Piconi Family 2021 Delaware Trust and the Piconi 2021 Delaware Trust, for which the reporting person serves as investment advisor. The filing is signed by the company CFO.
Positive
- Insider purchase of 55,000 shares at a weighted average price of $1.7057
- Clear disclosure of direct beneficial ownership totaling 20,087,526 shares
- Trust holdings disclosed with footnotes attributing 4,307,946 shares to each named trust
Negative
- No additional context provided on purpose or timing of the purchases beyond transaction dates
- Weighted average price reported without per-lot breakdown (footnote offers to provide details only on request)
Insights
TL;DR: Insider CEO purchased 55,000 shares at a ~$1.71 weighted average price; direct holdings exceed 20.0 million shares.
The reported purchase is a straightforward open-market acquisition totaling 55,000 shares at a weighted average of $1.7057 on 08/28/2025. Post-transaction direct beneficial ownership is reported at 20,087,526 shares, with two disclosed indirect trust holdings of 4,307,946 shares each. For investors, this filing documents insider accumulation but does not provide context on timing or intent beyond the transaction details reported.
TL;DR: CEO and director disclosed purchases and trust ownerships, filed under Section 16 as required.
The Form 4 correctly identifies roles (CEO, director, >10% owner) and reports acquisition details and trust-held positions with explanatory footnotes. The reporting person is listed as investment advisor to two Delaware trusts that hold identical share amounts, which is disclosed in the form. The filing appears to satisfy Section 16 reporting elements visible in the document.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Common Stock | 55,000 | $1.7057 | $94K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.64 to $1.79. 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 Family 2021 Delaware Trust for which the Reporting Person serves as investment advisor. Held by Piconi 2021 Delaware Trust for which the Reporting Person serves as investment advisor.
