Energy Vault Holdings Inc. reported insider transactions by Chief Financial Officer Michael Thomas Beer that were filed with the Securities and Exchange Commission. According to the Form 4 disclosure, Beer sold 65,000 shares of common stock on April 6, 2026 at a price of $3.18 per share, for aggregate proceeds of $206,700.
The Form 4 states the share sale was implemented under a pre-arranged Rule 10b5-1 trading plan that Beer adopted on December 19, 2025. The filing also records that Beer exercised stock options for 50,000 shares of Energy Vault on the same date at an exercise price of $1.17, representing a total exercise value of $58,500. The option awards vest in quarterly installments, with vesting having begun on June 30, 2025, per the filing.
Following the sale and option exercise, Beer is listed as directly holding 1,060,945 shares of Energy Vault. The transactions come amid notable share price swings for the company - the stock has returned 374% over the past year, but is down 31% year-to-date and has fallen 6.2% in the prior week, according to InvestingPro data cited in the filing summary. InvestingPro data also indicate Energy Vault carries a market capitalization of $521 million and remains unprofitable, with negative earnings per share of $0.65.
Those insider moves arrive in the context of Energy Vault's recently reported fourth-quarter 2025 results. The company posted earnings per share of $0.02, beating the consensus forecast of -$0.0033 and registering a positive surprise of 706.06%. Revenue for the quarter reached $153.3 million, exceeding projected revenue of $137.73 million by 11.3%.
Alongside the quarterly results, Energy Vault disclosed it acquired the McMurtre Battery Energy Storage System, a 175 MW project located near Dallas, Texas. The company said the purchase supports its objective to deploy 1,500 MW of battery energy storage capacity. Energy Vault plans to fold the McMurtre project into its Asset Vault investment platform once the project achieves Ready-to-Build status.
Context and takeaways
- Insider filing: The transactions are documented on a Form 4 and were carried out under an established Rule 10b5-1 plan.
- Option exercise: Beer exercised 50,000 options at $1.17 per share on the same day as the sale.
- Company performance: Energy Vault posted a positive EPS and revenue beat for Q4 2025 and expanded its project pipeline with a 175 MW acquisition near Dallas.
Additional details
The Form 4 provides the formal notice of Beer’s transactions and reports his resulting direct shareholdings. The Q4 results and the McMurtre acquisition were announced by the company as part of its broader operational and deployment plans for battery energy storage assets.