Initial Statement of Beneficial Ownership (3)
June 05 2023 - 4:07PM
Edgar (US Regulatory)
FORM 3
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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OMB APPROVAL
OMB Number:
3235-0104
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
*
Ladwa Akshay |
2. Date of Event Requiring Statement (MM/DD/YYYY)
5/25/2023
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3. Issuer Name and Ticker or Trading Symbol
Energy Vault Holdings, Inc. [NRGV]
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(Last)
(First)
(Middle)
4360 PARK TERRACE DRIVE,, SUITE 100 |
4. Relationship of Reporting Person(s) to Issuer (Check all applicable)
_____ Director _____ 10% Owner
___X___ Officer (give title below) _____ Other (specify below)
Chief Engineering Officer / |
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(Street)
WESTLAKE VILLAGE, CA 91361
(City)
(State)
(Zip)
| 5. If Amendment, Date Original Filed(MM/DD/YYYY)
| 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Beneficially Owned
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1.Title of Security
(Instr. 4) | 2. Amount of Securities Beneficially Owned
(Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5) | 4. Nature of Indirect Beneficial Ownership
(Instr. 5) |
| Common Stock | 1148060 (1) | D | |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security
(Instr. 4) | 2. Date Exercisable and Expiration Date
(MM/DD/YYYY) | 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5) | 6. Nature of Indirect Beneficial Ownership
(Instr. 5) |
| Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
| Stock Option | (2) | 5/19/2030 | Common Stock | 600000 | $1.86 | D | |
| Explanation of Responses: |
| (1) | Includes 918,758 restricted stock units (?RSUs?), which represent a contingent right to receive one share of Common Stock for each RSU. The original grant of RSUs vest as follows: (i) 508,013 RSUs vest with respect to 25% of the underlying shares on October 31, 2022 and as to 1/48th monthly thereafter; (ii) 535,000 RSUs vest with respect to 25% of the underlying shares on February 28, 2023 and as to 6.25% quarterly thereafter; and (iii) 200,000 RSUs vest with respect to 33.2% of the underlying shares on October 31, 2023 and as to 8.35% quarterly thereafter. As of May 25, 2023, a total of 94,953 shares of Common Stock were disposed of to cover tax obligations due upon vesting of 324,255 RSUs. |
| (2) | The stock option vests in three substantially equal annual installments beginning on May 4, 2024. |
Remarks:
Exhibit 24- Power of Attorney |
Reporting Owners
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| Reporting Owner Name / Address | Relationships |
| Director | 10% Owner | Officer | Other |
Ladwa Akshay
4360 PARK TERRACE DRIVE,
SUITE 100
WESTLAKE VILLAGE, CA 91361 |
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| Chief Engineering Officer |
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Signatures
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| /s/ Timothy Maloche, Attorney-in-Fact | | 6/5/2023 |
| **Signature of Reporting Person | Date |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. |
| * | If the form is filed by more than one reporting person, see Instruction 5(b)(v). |
| ** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
| Note: | File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. |
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. |
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