Michael Thomas Beer - May 16, 2024 Form 4 Insider Report for Energy Vault Holdings, Inc. (NRGV)

Role: Chief Financial Officer
Signature: /s/ Timothy Maloche, Attorney-in-Fact
Stock symbol: NRGV
Transactions as of: May 16, 2024
Transactions value $: $0
Form type: 4
Date filed: 5/17/2024, 07:21 PM
Previous filing: Apr 24, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NRGV	Common Stock	Award	$0	+600K		$0.00	600K	May 16, 2024	Direct	F1
transaction	NRGV	Common Stock	Award	$0	+600K	+100%	$0.00	1.2M	May 16, 2024	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	Stock Option	Award	$0	+800K		$0.00	800K	May 16, 2024	Common Stock	800K	$1.17	Direct	F3

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

Explanation of Responses:

Id	Content
F1	Represents an award of restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of the Issuer's Common Stock. The RSUs will vest as to 25% of the underlying shares on June 30, 2025, and as to the remaining of the underlying shares in 12 substantially similar quarterly installments thereafter.
F2	Represents an award of RSUs. Each RSU represents a contingent right to receive one share of the Issuer's Common Stock. The RSUs will vest as to one-third of the underlying shares upon the achievement of each of the following stock price targets, based on twenty trading days during any consecutive thirty trading day period occurring prior to the fourth anniversary of the grant date: $3.50, $4.50 and $5.50. Any portion of the award that has not vested as of the fourth anniversary of the grant date shall be forfeited and terminated for no consideration.
F3	The stock option will vest as to 25% of the underlying shares on June 30, 2025, and as to the remaining of the underlying shares in 12 substantially similar quarterly installments thereafter.