Marc Horstman - 02 Jun 2025 Form 4 Insider Report for NET Power Inc. (NPWR)

Role: Chief Operating Officer
Signature: /s/ Marc Horstman
Issuer symbol: NPWR
Transactions as of: 02 Jun 2025
Net transactions value: $0
Form type: 4
Filing time: 04 Jun 2025, 21:14:44 UTC
Previous filing: 04 Jun 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Horstman Marc	Chief Operating Officer	320 RONEY STREET, SUITE 200, DURHAM	/s/ Marc Horstman	04 Jun 2025	0002070734

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	NPWR	Stock Options	Award	$0	+240,000		$0.000000	240,000	02 Jun 2025	Class A Common Stock	240,000	$2.13	Direct	F1
transaction	NPWR	Performance Stock Units	Award	$0	+74,766		$0.000000	74,766	02 Jun 2025	Class A Common Stock	74,766		Direct	F2

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

Explanation of Responses:

Id	Content
F1	Stock options vest on June 2, 2026, subject to continued employment.
F2	The Reporting Person will receive a number of shares of Class A common stock equal to 50% of the number of PSUs upon attainment of a 10% compound annual growth rate ("CAGR") of the 30-day volume weighted average price ("VWAP") of a share of Class A common stock on April 2, 2028 as compared to the VWAP of a share of Class A common stock on April 2, 2025. The Reporting Person will receive a number of shares of Class A common stock equal to 100% of the number of PSUs upon attainment of a 12% CAGR of the VWAP of a share of Class A common stock on April 2, 2028 as compared to the VWAP of a share of Class A common stock on April 2, 2025. The Reporting Person will receive a number of shares of Class A common stock equal to 200% of the number of PSUs upon attainment of a 15% CAGR of the VWAP of a share of Class A common stock on April 2, 2028 as compared to the VWAP of a share of Class A common stock on April 2, 2025.

Content

Stock options vest on June 2, 2026, subject to continued employment.

The Reporting Person will receive a number of shares of Class A common stock equal to 50% of the number of PSUs upon attainment of a 10% compound annual growth rate ("CAGR") of the 30-day volume weighted average price ("VWAP") of a share of Class A common stock on April 2, 2028 as compared to the VWAP of a share of Class A common stock on April 2, 2025. The Reporting Person will receive a number of shares of Class A common stock equal to 100% of the number of PSUs upon attainment of a 12% CAGR of the VWAP of a share of Class A common stock on April 2, 2028 as compared to the VWAP of a share of Class A common stock on April 2, 2025. The Reporting Person will receive a number of shares of Class A common stock equal to 200% of the number of PSUs upon attainment of a 15% CAGR of the VWAP of a share of Class A common stock on April 2, 2028 as compared to the VWAP of a share of Class A common stock on April 2, 2025.