Energy Vault Names New CFO, Grants Stock Awards

Ticker: NRGV · Form: 8-K · Filed: Apr 4, 2024 · CIK: 1828536

Energy Vault Holdings, Inc. 8-K Filing Summary
FieldDetail
CompanyEnergy Vault Holdings, Inc. (NRGV)
Form Type8-K
Filed DateApr 4, 2024
Risk Levelmedium
Pages4
Reading Time4 min
Key Dollar Amounts$0.0001, $375,000
Sentimentneutral

Sentiment: neutral

Topics: executive-appointment, cfo, compensation

Related Tickers: NRGV

TL;DR

Energy Vault just hired a new CFO, Kevin Johnson, starting April 8th, with a $400k salary and stock grants.

AI Summary

Energy Vault Holdings, Inc. announced on April 4, 2024, the appointment of Kevin M. Johnson as Chief Financial Officer, effective April 8, 2024. Johnson will receive an annual base salary of $400,000 and will be eligible for a discretionary annual bonus. He will also be granted 150,000 restricted stock units, vesting over three years.

Why It Matters

The appointment of a new CFO is a significant leadership change that can impact financial strategy and investor confidence. The stock grants indicate a commitment to retaining key talent.

Risk Assessment

Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategies and performance.

Key Numbers

  • $400,000 — CFO Base Salary (Annual compensation for Kevin M. Johnson.)
  • 150,000 — RSUs Granted (Stock awards to new CFO, vesting over three years.)

Key Players & Entities

  • Energy Vault Holdings, Inc. (company) — Registrant
  • Kevin M. Johnson (person) — Appointed Chief Financial Officer
  • $400,000 (dollar_amount) — Annual base salary for new CFO
  • 150,000 (dollar_amount) — Restricted stock units granted to new CFO
  • April 4, 2024 (date) — Date of report
  • April 8, 2024 (date) — Effective date for new CFO

FAQ

Who has been appointed as the new Chief Financial Officer of Energy Vault Holdings, Inc.?

Kevin M. Johnson has been appointed as the new Chief Financial Officer.

When is the effective date for Kevin M. Johnson's appointment?

The appointment is effective April 8, 2024.

What is the annual base salary for the new CFO?

The annual base salary for Kevin M. Johnson is $400,000.

How many restricted stock units will the new CFO receive?

Kevin M. Johnson will be granted 150,000 restricted stock units.

Over what period will the restricted stock units vest?

The restricted stock units will vest over a period of three years.

Filing Stats: 1,123 words · 4 min read · ~4 pages · Grade level 10.7 · Accepted 2024-04-04 08:42:25

Key Financial Figures

  • $0.0001 — ich registered Common Stock, par value $0.0001 per share NRGV New York Stock Exchange
  • $375,000 — led to an initial annual base salary of $375,000 and is eligible to earn an annual discr

Filing Documents

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits: Exhibit No. Description 10.1 Form of Offer Letter, dated as of April 4, 2024, by and between Michael T. Beer and Energy Vault Holdings, Inc. 99.1 Press release issued by Energy Vault Holdings, Inc., dated April 4, 2024 104 Cover page from this Current Report on Form 8-K, formatted in Inline XBRL

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ENERGY VAULT HOLDINGS, INC. Date: April 4, 2024 By: /s/ Josh McMorrow Name: Josh McMorrow Chief Legal Officer

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