NPEH, LLC 4/A
4/A · NET Power Inc. · Filed May 13, 2026
Research Summary
AI-generated summary of this filing
NET Power (NPWR) 10% Owner NPEH LLC Exchanges 3,000,000 Units for Shares
What Happened
NPEH, LLC, a reported 10% owner of NET Power Inc. (NPWR), converted 3,000,000 Class A Units of NET Power Operations LLC into 3,000,000 shares of NET Power Class A common stock on March 6, 2026. The Form 4 lists the conversion as an acquisition of 3,000,000 shares and reports related dispositions of 3,000,000 units and 3,000,000 derivative interests; no market price or cash value is reported (price N/A). This filing is an amendment correcting an administrative omission in the original Form 4.
Key Details
- Transaction date: March 6, 2026. Amendment filed May 13, 2026 (original Form 4 filed March 10, 2026).
- Transaction types reported: conversion of derivative security (exchange of Class A Units for shares) and related disposition/cancellation entries.
- Shares involved: 3,000,000 Class A Units exchanged for 3,000,000 Class A common shares. Prices / dollar values: not reported (N/A).
- Shares owned after transaction: not specified in this amendment.
- Footnotes: F1 — Class A Units are exchangeable one-for-one into Class A common stock (no expiration); F2 — an equal number of Class B common shares held by NPEH (said to have no economic value) were cancelled upon the exchange; F3 — this filing amends the March 10, 2026 Form 4 to report the exchanged units that were omitted from Table II.
Context
This is a structural conversion by a 10% owner (institutional entity), not an open-market purchase or sale by an officer. Conversions of equity units into common shares are routine corporate mechanics and do not necessarily signal a bullish or bearish view by the holder. No cash proceeds, exercise prices, or immediate sales of the newly issued shares are reported here.
Insider Transaction Report
- Conversion
Class A Common Stock
[F1]2026-03-06+3,000,000→ 3,400,000 total - Other
Class B Common Stock
[F2]2026-03-06−3,000,000→ 17,729,880 total - Conversion
Class A Units of NET Power Operations LLC
[F1][F3]2026-03-06−3,000,000→ 17,729,880 total→ Class A Common Stock (3,000,000 underlying)
Footnotes (3)
- [F1]The Class A Units of NET Power Operations LLC are exchangeable into shares of the Issuer's Class A Common Stock or, at the Issuer's election, cash, on a one-for-one basis and have no expiration date. On March 6, 2026, NPEH exchanged 3,000,000 Class A Units of NET Power Operations LLC for 3,000,000 shares of the Issuer's Class A Common Stock.
- [F2]For each Class A Unit of Net Power Operations LLC, NPEH owns a corresponding share of Class B Common Stock of the Issuer. Upon the exchange of 3,000,000 Class A Units of Net Power Operations LLC, an equal number of shares of Class B Common Stock of the Issuer held by NPEH, which have no economic value, were cancelled.
- [F3]This amendment is being filed to correct an administrative error in the Form 4 filed on March 10, 2026 (the "Original Form 4") and report the 3,000,000 Class A Units of NET Power Operations LLC that were converted into an equal number of shares of the Issuer's Class A Common Stock as being disposed of by the Reporting Person. The Original Form 4 inadvertently omitted such Class A Units from Table II.