Energy Vault Holdings, Inc. Announces Inducement Grants Under NYSE Listing Rule 303A.08
Energy Vault Holdings (NYSE: NRGV) announced that its Compensation Committee has granted restricted stock unit awards to three new non-executive employees, covering 96,000 shares of common stock. Additionally, Brad Eastman, the company's new Chief Legal Officer, received 700,000 restricted stock units and a performance-based stock unit award of 300,000 shares. The awards were granted under the 2022 Employment Inducement Award Plan as hiring incentives. The regular stock units vest 25% after one year and 6.25% quarterly thereafter. Eastman's performance units vest based on stock price targets of $3.00, $4.00, and $5.00 within four years.
Energy Vault Holdings (NYSE: NRGV) ha annunciato che il suo Comitato per la Retribuzione ha conferito premi in azioni riservate a tre nuovi dipendenti non esecutivi, coprendo 96.000 azioni ordinarie. Inoltre, Brad Eastman, il nuovo Chief Legal Officer dell'azienda, ha ricevuto 700.000 unità azionarie riservate e un premio in azioni basato sulle performance di 300.000 azioni. I premi sono stati concessi nell'ambito del Piano di Incentivazione all'Occupazione del 2022 come incentivi all'assunzione. Le unità azionarie regolari maturano il 25% dopo un anno e il 6,25% trimestralmente successivamente. Le unità sulle performance di Eastman maturano in base agli obiettivi di prezzo delle azioni di $3,00, $4,00 e $5,00 entro quattro anni.
Energy Vault Holdings (NYSE: NRGV) anunció que su Comité de Compensación ha concedido premios en unidades de acciones restringidas a tres nuevos empleados no ejecutivos, cubriendo 96,000 acciones ordinarias. Adicionalmente, Brad Eastman, el nuevo Chief Legal Officer de la compañía, recibió 700,000 unidades de acciones restringidas y un premio en acciones basado en el desempeño de 300,000 acciones. Los premios fueron otorgados bajo el Plan de Incentivo de Empleo 2022 como incentivos para la contratación. Las unidades de acciones regulares se consolidan un 25% después de un año y un 6.25% trimestralmente después. Las unidades de rendimiento de Eastman se consolidan en función de objetivos de precio de acciones de $3.00, $4.00 y $5.00 dentro de cuatro años.
에너지 볼트 홀딩스(NYSE: NRGV)는 보수위원회가 세 명의 신규 비상임 직원에게 제한된 주식 단위 보상을 부여했다고 발표했습니다. 이는 96,000주에 해당합니다. 또한 회사의 새로운 법률 담당자 브래드 이스트먼은 700,000개의 제한 주식 단위와 성과 기반 주식 단위 보상 300,000주를 받았습니다. 이 보상은 2022년 고용 유인 보상 계획에 따라 채용 인센티브로 제공되었습니다. 일반 주식 단위는 1년 후에 25%가 확정되며 이후 매 분기 6.25%씩 확정됩니다. 이스트먼의 성과 단위는 4년 이내에 주가 목표인 $3.00, $4.00 및 $5.00에 따라 확정됩니다.
Energy Vault Holdings (NYSE: NRGV) a annoncé que son Comité de Rémunération a accordé des attributions d'unités d'actions restreintes à trois nouveaux employés non exécutifs, couvrant 96 000 actions ordinaires. De plus, Brad Eastman, le nouveau Directeur Juridique de l'entreprise, a reçu 700 000 unités d'actions restreintes et une attribution d'unités d'actions basée sur la performance de 300 000 actions. Les attributions ont été accordées dans le cadre du Plan d'Incitations à l'Emploi 2022 comme incitatifs à l'embauche. Les unités d'actions ordinaires se débloquent à 25 % après un an et à 6,25 % par trimestre par la suite. Les unités de performance d'Eastman se débloquent en fonction des objectifs de prix des actions de 3,00 $, 4,00 $ et 5,00 $ sur une période de quatre ans.
Energy Vault Holdings (NYSE: NRGV) gab bekannt, dass der Vergütungsausschuss einem drei neuen nicht-executive Mitarbeitern beschränkte Aktienzuteilungen in Höhe von insgesamt 96.000 Stammaktien gewährt hat. Darüber hinaus erhielt Brad Eastman, der neue Chief Legal Officer des Unternehmens, 700.000 beschränkte Aktieneinheiten und eine leistungsabhängige Aktienzuteilung von 300.000 Aktien. Die Zuteilungen wurden im Rahmen des 2022 Employment Inducement Award Plans als Anreiz für die Einstellungen gewährt. Die regulären Aktieneinheiten werden 25% nach einem Jahr und danach vierteljährlich zu 6,25% fällig. Eastmans Leistungseinheiten werden basierend auf den Aktienkurszielen von $3,00, $4,00 und $5,00 innerhalb von vier Jahren fällig.
- Implementation of performance-based stock awards tied to specific price targets indicates alignment with shareholder interests
- Structured vesting schedule promotes employee retention
- Significant stock-based compensation of 1.096 million shares represents potential dilution for existing shareholders
Insights
This stock grant announcement reveals significant equity compensation details for Energy Vault's new executives and employees. The most notable aspect is the 700,000 restricted stock units plus 300,000 performance-based units granted to new CLO Brad Eastman. The performance targets, set at
The vesting schedule for regular RSUs (25% after year one, then 6.25% quarterly) is fairly standard for the industry. However, the size of Eastman's grant is substantial relative to Energy Vault's market cap, representing approximately 0.35% of the company. This level of equity compensation signals both the company's commitment to attracting top talent and its belief in future growth potential, though it does come with dilutive effects for existing shareholders.
LUGANO,
The Inducement Award Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of Energy Vault, or following a bona fide period of non-employment, as an inducement material to such individuals’ entering into employment with Energy Vault, pursuant to New York Stock Exchange Listing Rule 303A.08.
The restricted stock unit awards will each vest (subject to the employee’s continued service to Energy Vault) as to
Each of these awards are subject to the terms and conditions of the Inducement Award Plan and an award agreement thereunder.
About Energy Vault
Energy Vault develops and deploys utility-scale energy storage solutions designed to transform the world's approach to sustainable energy storage. The company's comprehensive offerings include proprietary gravity-based storage, battery storage, and green hydrogen energy storage technologies. Each storage solution is supported by the company’s hardware technology-agnostic energy management system software and integration platform. Unique to the industry, Energy Vault’s innovative technology portfolio delivers customized short-and-long-duration energy storage solutions to help utilities, independent power producers, and large industrial energy users significantly reduce levelized energy costs while maintaining power reliability. Utilizing eco-friendly materials with the ability to integrate waste materials for beneficial reuse, Energy Vault’s EVx™ gravity-based energy storage technology is facilitating the shift to a circular economy while accelerating the global clean energy transition for its customers. Please visit www.energyvault.com for more information.
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Source: Energy Vault Holdings, Inc.
FAQ
How many restricted stock units did Energy Vault (NRGV) grant to its new Chief Legal Officer?
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