Beer Michael Thomas 4

What Happened

• Michael Beer, Chief Financial Officer of Energy Vault Holdings (NRGV), exercised options to acquire 50,000 shares at $1.17 per share (total cost $58,500) and the filing also reports a derivative conversion of 50,000 shares shown as disposed at $0. On the same date (Apr 6, 2026) he sold 65,000 shares in the open market at $3.18 per share, generating proceeds of $206,700.

Key Details

• Transaction date: April 6, 2026; Form 4 filed April 8, 2026 (within the typical 2‑business‑day window)
• Option exercise (code M): 50,000 shares acquired at $1.17 each — $58,500 total
• Derivative conversion (code M): 50,000 shares reported as disposed at $0 (as shown on the filing)
• Open‑market sale (code S): 65,000 shares sold at $3.18 each — $206,700 proceeds
• Footnote F1: Sales were effected pursuant to a Rule 10b5‑1 trading plan adopted Dec 19, 2025
• Footnote F2: Option vesting: 25% vested June 30, 2025, remainder vesting in 12 quarterly installments
• Shares owned after transaction: not specified in the provided filing excerpt

Context

• The filing shows an option exercise and a same‑day market sale. When exercises and sales occur the same day, that can reflect an immediate sale of exercised shares (cashless exercise or liquidity move), but the Form 4 does not explicitly state settlement mechanics.
• The open‑market sale was made under a pre‑arranged Rule 10b5‑1 plan (F1), which typically indicates trades were scheduled in advance rather than prompted by intra‑day company news. This is common and does not, by itself, imply new sentiment.
• Be factual: purchases (acquisitions) can be more informative than routine sales; here Beer both acquired (via exercise) and sold shares on the same day.