NPEH, LLC 4/A

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.