Josh McMorrow - 08 Jun 2023 Form 4 Insider Report for Energy Vault Holdings, Inc. (NRGV)

Role: Chief Legal Officer
Signature: /s/ Timothy Maloche, Attorney-in-Fact
Issuer symbol: NRGV
Transactions as of: 08 Jun 2023
Net transactions value: -$177,883
Form type: 4
Filing time: 12 Jun 2023, 20:05:20 UTC
Previous filing: 23 May 2023
Next filing: 13 Sep 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	+167,735	+29%	$0.000000	745,940	08 Jun 2023	Direct	F1
transaction	NRGV	Common Stock	Tax liability	$177,883	-84,706	-11%	$2.10	661,234	08 Jun 2023	Direct	F2

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	-67,735	-100%	$0.000000^*	0	08 Jun 2023	Common Stock	67,735		Direct	F1, F3
transaction	NRGV	Restricted Stock Unit	Options Exercise	$0	-100,000	-100%	$0.000000^*	0	08 Jun 2023	Common Stock	100,000		Direct	F1, F4

* 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 578,205 restricted stock units ("RSUs") previously reported in Table II.
F2	Represents shares withheld by the Issuer to satisfy the reporting person's tax liability on vesting of restricted stock units.
F3	The Reporting Person was granted Restricted Stock Units ("RSUs") which represent a contingent right to receive one share of Common Stock for each RSU. The RSUs were approved on May 12, 2022 with a grant date to be the date that the issuer filed its Registration Statement on Form S-8 to register issuances under its 2022 Equity Incentive Plan, which registration statement was filed on July 29, 2022. 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 May 31, 2023 and 6.25% of the RSUs shall vest each quarter thereafter, subject to the Reporting Person's continuous service with the Issuer.
F4	The Reporting Person was granted RSUs which represent a contingent right to receive one share of Common Stock for each RSU. The RSUs were approved on July 3, 2022 with a grant date to be the date that the issuer filed its Registration Statement on Form S-8 to register issuances under its 2022 Equity Incentive Plan, which registration statement was filed on July 29, 2022. 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 May 31, 2023 and 6.25% of the RSUs shall vest each quarter thereafter, subject to the Reporting Person's continuous service with the Issuer.