Marco Terruzzin - 27 Mar 2023 Form 4 Insider Report for Energy Vault Holdings, Inc. (NRGV)

Role: Chief Product Officer
Signature: /s/ Timothy Maloche, Attorney-in-Fact
Issuer symbol: NRGV
Transactions as of: 27 Mar 2023
Net transactions value: -$252,648
Form type: 4
Filing time: 29 Mar 2023, 16:44:12 UTC
Previous filing: 20 Dec 2022
Next filing: 23 May 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NRGV	Common Stock	Options Exercise	$0	+218,750	+16%	$0.000000	1,620,267	27 Mar 2023	Direct	F1
transaction	NRGV	Common Stock	Tax liability	$252,648	-75,643	-4.7%	$3.34	1,544,624	27 Mar 2023	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	NRGV	Restricted Stock Unit	Options Exercise	$0	-218,750	-100%	$0.000000^*	0	27 Mar 2023	Common Stock	218,750		Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The Reporting Person has reported prior awards of restricted stock units in Table II of Form 4. As of the date of this filing, the total reported in Column 5 includes an aggregate of 856,250 restricted stock units ("RSUs") previously reported in Table II.
F2	The Reporting Person was granted RSUs, which represent a contingent right to receive one share of Common Stock for each RSU. The RSUs are subject to a service-based vesting requirement, which shall be satisfied over a four year period. 25% of the RSUs will vest on February 28, 2023 and 6.25% of the RSUs shall vest each quarter thereafter, subject to the Reporting Person's continuous service with the Issuer.

Content

The Reporting Person has reported prior awards of restricted stock units in Table II of Form 4. As of the date of this filing, the total reported in Column 5 includes an aggregate of 856,250 restricted stock units ("RSUs") previously reported in Table II.

The Reporting Person was granted RSUs, which represent a contingent right to receive one share of Common Stock for each RSU. The RSUs are subject to a service-based vesting requirement, which shall be satisfied over a four year period. 25% of the RSUs will vest on February 28, 2023 and 6.25% of the RSUs shall vest each quarter thereafter, subject to the Reporting Person's continuous service with the Issuer.