Form 4 for NPWR Net Power Inc.
Accepted 2024-04-04 00:00:00 ET · period of report 2024-04-02 · accession 0001845437-24-000011 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DM | 2024-04-04 | 2024-04-02 | NPWR | ALLEN BRIAN F. | COO, Pres | A - Grant | $0.00 | +449.1K | 449.1K | New | $0 |
| D | 2024-04-04 | 2024-04-02 | NPWR | ALLEN BRIAN F. | COO, Pres | A - Grant | $0.00 | +37.6K | 37.6K | New | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Restricted Stock Units | 2024-04-02 | A | A | 37,610 | $0.00 | 37,610 | D | — | — | (F1) Restricted stock units that vest in three equal installments on each anniversary of April 2, 2024, subject to continued employment. |
| 2 | Common | Restricted Stock Units | 2024-04-02 | A | A | 411,467 | $0.00 | 449,077 | D | — | — | (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." |
| 3 | Derivative | Performance Stock Units | 2024-04-02 | A | A | 37,610 | $0.00 | 37,610 | D | — · — to — | 37,610 Class A Common Stock | (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. |