Energy Vault CEO reports tax-related share withholding

Energy Vault Holdings, Inc. Chief Executive Officer Robert Piconi reported a tax-related share withholding tied to restricted stock units.

Rhea-AI Filing Summary

Energy Vault Holdings, Inc. Chief Executive Officer Robert Piconi reported a tax-related share withholding tied to restricted stock units. On March 5, 2026, the company withheld 68,737 shares of common stock at $3.00 per share to cover his tax liability upon RSU vesting, a non‑market disposition coded as tax-withholding.

After this transaction, Piconi directly owned 20,021,900 common shares. He also had indirect ownership of 4,307,946 common shares held by the Piconi 2021 Delaware Trust and the Piconi Family 2021 Delaware Trust, for which he serves as investment advisor.

Insider Trade Summary

Exercise Price or Tax Liability: 68,737 shares

Exercise Price or Tax Liability 3 txns

Insider Piconi Robert

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Common Stock	68,737	$3.00	$206K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 20,021,900 shares (Direct); Common Stock — 8,615,892 shares (Indirect, See Footnote)

Footnotes (3)

1. F1. Represents shares withheld by the Issuer to satisfy the reporting person's tax liability on vesting of restricted stock units.
2. F2. Held by Piconi 2021 Delaware Trust for which the Reporting Person serves as investment advisor.
3. F3. Held by Piconi Family 2021 Delaware Trust for which the Reporting Person serves as investment advisor.

FAQ

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What did Energy Vault (NRGV) CEO Robert Piconi report in this Form 4?

Robert Piconi reported a tax-related share withholding, not an open-market sale. The issuer withheld 68,737 common shares at $3.00 per share to satisfy his tax liability when restricted stock units vested on March 5, 2026.

How many Energy Vault (NRGV) shares were withheld for CEO tax obligations?

The issuer withheld 68,737 shares of Energy Vault common stock. These shares were used to pay Robert Piconi’s tax liability on the vesting of restricted stock units, at a price of $3.00 per share, according to the Form 4 filing details.

How many Energy Vault (NRGV) shares does Robert Piconi own after the transaction?

After the transaction, Robert Piconi directly owned 20,021,900 Energy Vault common shares. In addition, 4,307,946 common shares were held indirectly through two Delaware trusts for which he serves as investment advisor, as disclosed in the Form 4 footnotes.

Was this Energy Vault (NRGV) Form 4 a market sale by the CEO?

No, it was not a market sale. The Form 4 shows a tax-withholding disposition, with the issuer retaining 68,737 shares to cover Robert Piconi’s tax obligations on vested restricted stock units, rather than him selling shares on the open market.

What are the trusts mentioned in Robert Piconi’s Energy Vault (NRGV) Form 4?

The filing cites the Piconi 2021 Delaware Trust and the Piconi Family 2021 Delaware Trust. Both hold Energy Vault common shares indirectly, and Robert Piconi serves as investment advisor to these trusts, which together hold 4,307,946 common shares.

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Accepted by SEC EDGAR 03/06/2026 - 04:07 PM Learn about SEC filing dates

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 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)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/05/2026

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	03/05/2026		F		68,737(1)	D	$3	20,021,900	D
Common Stock								4,307,946	I	See Footnote(2)
Common Stock								4,307,946	I	See Footnote(3)

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

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

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

Remarks:

	/s/ Michael Beer, Chief Financial Officer	03/06/2026
	** 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.