4//SEC Filing
Jung John G 4
Accession 0001104659-22-023995
CIK 0001828536other
Filed
Feb 14, 7:00 PM ET
Accepted
Feb 15, 8:22 PM ET
Size
6.8 KB
Accession
0001104659-22-023995
Insider Transaction Report
Form 4
Jung John G
President of EVS
Transactions
- Award
Restricted Stock Units
2022-02-11+677,350→ 677,350 total→ Common Stock (677,350 underlying)
Footnotes (2)
- [F1]In connection with the merger described in that certain Business Combination Agreement and Plan of Reorganization, dated as of September 8, 2021, by and among Novus Capital Corporation II, now known as Energy Vault Holdings, Inc. ("Energy Vault Holdings") (the "Issuer"), NCCII Merger Corp. ("Merger Sub"), and Energy Vault, Inc. ("Energy Vault"), pursuant to which Merger Sub merged with and into Energy Vault, with Energy Vault surviving as a wholly-owned subsidiary of the Issuer (the "Merger").
- [F2]In connection with the Merger, the Reporting Person received restricted stock units ("RSUs") in Issuer in exchange for, and pursuant to the assumption and conversion of, 100,000 restricted stock units of Energy Vault. Subject to the satisfaction of both a liquidity event requirement and service-based requirement, each RSU represents the contingent right to receive one share of the Issuer's Common Stock. The liquidity event requirement was satisfied upon the closing of the Merger. The RSUs will accordingly vest upon the satisfaction of the service-based requirement, which provides that the RSUs will vest or have vested as follows: with respect to 25% of the RSUs on October 11, 2022, and with respect to 1/48th of the RSUs each month thereafter, subject to the Reporting Person's continuous service with the Issuer through each vesting date.
Documents
Issuer
Energy Vault Holdings, Inc.
CIK 0001828536
Entity typeother
Related Parties
1- filerCIK 0001911137
Filing Metadata
- Form type
- 4
- Filed
- Feb 14, 7:00 PM ET
- Accepted
- Feb 15, 8:22 PM ET
- Size
- 6.8 KB