4//SEC Filing
ALLEN BRIAN F. 4
Accession 0001845437-24-000011
CIK 0001845437other
Filed
Apr 3, 8:00 PM ET
Accepted
Apr 4, 4:11 PM ET
Size
9.9 KB
Accession
0001845437-24-000011
Insider Transaction Report
Form 4
NET Power Inc.NPWR
ALLEN BRIAN F.
COO and President
Transactions
- Award
Restricted Stock Units
2024-04-02+37,610→ 37,610 total - Award
Restricted Stock Units
2024-04-02+411,467→ 449,077 total - Award
Performance Stock Units
2024-04-02+37,610→ 37,610 total→ Class A Common Stock (37,610 underlying)
Footnotes (3)
- [F1]Restricted stock units that vest in three equal installments on each anniversary of April 2, 2024, subject to continued employment.
- [F2]Restricted stock units that vest upon the latest to occur of the following three events: (1) The date that is 12 months after the date on which natural gas is first ignited at NET Power's first utility-scale plant; (2) The date of execution by all parties to an agreement related to the first sale by NET Power and its subsidiaries of a license to construct, operate, and maintain a second power plant utilizing the "NET Power Cycle" (the "License Agreement"); and (3) The date of documentation of a final investment decision by the licensee under the above-referenced License Agreement to proceed with constructing the second power plant utilizing the "NET Power Cycle."
- [F3]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, 2027 as compared to the VWAP of a share of Class A common stock on April 2, 2024. 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, 2027 as compared to the VWAP of a share of Class A common stock on April 2, 2024. 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, 2027 as compared to the VWAP of a share of Class A common stock on April 2, 2024.
Documents
Issuer
NET Power Inc.
CIK 0001845437
Entity typeother
Related Parties
1- filerCIK 0001975816
Filing Metadata
- Form type
- 4
- Filed
- Apr 3, 8:00 PM ET
- Accepted
- Apr 4, 4:11 PM ET
- Size
- 9.9 KB