NET Power Inc. 8-K

What Happened
NET Power Inc. filed an 8-K on April 13, 2026 announcing the appointment of Ned Leland (Lee) Shuman, age 56, as Chief Financial Officer effective April 13, 2026. Daniel J. Rice IV will remain Chief Executive Officer and will continue to serve as the company’s principal financial officer until the filing of the Company’s Form 10‑Q for the quarter ended March 31, 2026, at which time Mr. Shuman will assume the principal financial officer role. Mr. Shuman joins from Javelin Global Commodities (Head of Power Finance, Apr 2024–Apr 2026) and previously served as CFO of WattBridge Energy (2020–Apr 2024), where he led more than $1.6 billion of senior secured financings and raised $425 million of mezzanine/HoldCo capital.

Key Details

• Base salary: $420,000 per year.
• Short-term incentive (STIP) target: 60% of base salary.
• Long-term incentive (LTIP) target: 180% of base salary; RSU grant with grant-date fair value of $800,000 vesting three years after grant.
• One-time cash bonus: $100,000.
• Mr. Shuman will participate in the company’s Executive Severance Plan and the standard executive indemnification agreement (both incorporated by reference in the filing).
• Company states there are no understandings or family relationships involved in the appointment.

Why It Matters
This is a material executive change affecting NET Power’s finance leadership: a permanent CFO with extensive power‑sector financing experience replaces the interim CFO. Investors should note the timing (principal financial officer transition tied to the upcoming 10‑Q) and the compensation elements (salary, bonus, significant equity award that will vest over three years), which may affect near‑term cash compensation expense and future equity dilution. The filing also confirms standard severance and indemnity protections for the new CFO.