William Gross - Oct 10, 2022 Form 4 Insider Report for Energy Vault Holdings, Inc. (NRGV)

Signature
/s/ Timothy Maloche, Attorney-in-Fact
Stock symbol
NRGV
Transactions as of
Oct 10, 2022
Transactions value $
-$175,612
Form type
4
Date filed
10/12/2022, 05:12 PM
Previous filing
Sep 28, 2022
Next filing
Oct 24, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NRGV Common Stock Sale -$88.8K -16.3K -0.98% $5.46 1.64M Oct 10, 2022 Held by Idealab Studio, LLC F1, F2, F3
transaction NRGV Common Stock Sale -$86.8K -16.3K -0.99% $5.34 1.62M Oct 11, 2022 Held by Idealab Studio, LLC F1, F3, F4
holding NRGV Common Stock 1.28M Oct 10, 2022 Held by Idealab Holdings, LLC F5
holding NRGV Common Stock 4.9M Oct 10, 2022 Held by Gross Goodstein Living Trust dated April 18, 2006 F6
holding NRGV Common Stock 100K Oct 10, 2022 Held by spouse as UTMA custodian for child F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan.
F2 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $5.045 to $5.615. 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 sold at each separate price within the range set forth in this footnote.
F3 Idealab Studio, LLC ("ILS") has a board of managers comprised of Mr. Gross, Allen Morgan, and Howard Morgan. The board of managers acts by majority consent so no single person has sole voting or dispositive authority over such securities. Mr. Gross, Mr. Allen Morgan and Mr. Howard Morgan each disclaims beneficial ownership of the securities held by ILS, except to the extent of his pecuniary interest in such securities. The Gross Goodstein Living Trust dated April 18, 2006 (the "Gross Trust") owns a majority of the class of securities entitled to elect two directors to ILS's board of managers. Mr. Gross is the Chairman and Chief Executive Officer of ILS. As a result of the foregoing, Mr. Gross may be deemed to beneficially own the common stock held of record by ILS.
F4 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $5.155 to $5.53. 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 sold at each separate price within the range set forth in this footnote.
F5 Idealab Holdings, LLC ("Holdings") is a wholly owned subsidiary of Idealab, a California corporation. Idealab is managed by a board of directors consisting of Mr. Gross, Marcia Goodstein (Mr. Gross's wife), Renee LaBran and Bob Kavner, and no single person has voting or dispositive authority over the securities reported herein. Mr. Gross may be deemed to share beneficial ownership of the securities held by Holdings. Mr. Gross disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.
F6 Mr. Gross is co-Trustee together with his wife of the Gross Trust and may be deemed to have beneficial ownership of the securities held by the Gross Trust. Mr. Gross disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.
F7 The reporting person disclaims beneficial ownership of these shares, and this report shall not be deemed an admission that the reporting person is the beneficial owner of these shares for purposes of Section 16 or for any other purpose.