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  4. [Form 4] NET Power Inc. Insider Trading Activity

NET Power (NYSE: NPWR) director reports 40,000-share stock sale

Filing Impact
(Moderate)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

NET Power Inc. reported an insider transaction involving a director and more than one reporting person. On 12/09/2025, an affiliated entity, NPEH, LLC, sold 40,000 shares of NET Power Class A common stock at a weighted average price of $2.8235 per share, in multiple trades between $2.80 and $2.855 per share. Following this sale, NPEH, LLC beneficially owned 2,550,000 shares, held indirectly. 8 Rivers Capital, LLC is described as the manager and majority equity holder of NPEH and may be deemed a beneficial owner, while its principal, Damian R. Beauchamp, may be deemed an indirect beneficial owner through his interest in 8 Rivers. Both 8 Rivers and Mr. Beauchamp expressly disclaim beneficial ownership beyond their pecuniary interests.

Positive

  • None.

Negative

  • None.
Insider 8 Rivers Capital, LLC, BEAUCHAMP DAMIAN R.
Role 10% Owner | 10% Owner
Sold 40,000 shs ($113K)
Type Security Shares Price Value
Sale Class A Common Stock 40,000 $2.8235 $113K
Holdings After Transaction: Class A Common Stock — 2,550,000 shares (Indirect, By: NPEH, LLC)
Footnotes (1)
  1. The price reported reflects the weighted average sales price. The shares of Class A Common Stock were sold in multiple trades at prices ranging from $2.80 to $2.855. NPEH, LLC ("NPEH") will provide upon request to the SEC, the Issuer or security holder of the Issuer, full information regarding the number of shares sold at each separate price. As manager and holder of approximately 90.9% of the outstanding equity in NPEH, 8 Rivers Capital, LLC ("8 Rivers") may be deemed to be a beneficial owner of the securities directly owned by NPEH. 8 Rivers disclaims beneficial ownership of any such securities, except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that 8 Rivers is the beneficial owner of such securities for purposes of Section 16 or otherwise. Damian R. Beauchamp ("Mr. Beauchamp") independently indirectly owns approximately 68.5% of 8 Rivers. Accordingly, Mr. Beauchamp may be deemed the indirect beneficial owner of the securities owned by NPEH to the extent of his pecuniary interest therein. Mr. Beauchamp disclaims beneficial ownership of any such securities, except to the extent of his or her pecuniary interest therein, if any, and this report shall not be deemed an admission that Mr. Beauchamp is the beneficial owner of such securities for purposes of Section 16 or otherwise.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
8 Rivers Capital, LLC
(Last) (First) (Middle)
406 BLACKWELL STREET, 4TH FLOOR
(Street)
DURHAM NC 27701
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
NET Power Inc. [ NPWR ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
12/09/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Class A Common Stock 12/09/2025 S 40,000 D $2.8235(1) 2,550,000 I By: NPEH, LLC(2)(3)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
1. Name and Address of Reporting Person*
8 Rivers Capital, LLC
(Last) (First) (Middle)
406 BLACKWELL STREET, 4TH FLOOR
(Street)
DURHAM NC 27701
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
BEAUCHAMP DAMIAN R.
(Last) (First) (Middle)
406 BLACKWELL STREET, 4TH FLOOR
(Street)
DURHAM NC 27701
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
Explanation of Responses:
1. The price reported reflects the weighted average sales price. The shares of Class A Common Stock were sold in multiple trades at prices ranging from $2.80 to $2.855. NPEH, LLC ("NPEH") will provide upon request to the SEC, the Issuer or security holder of the Issuer, full information regarding the number of shares sold at each separate price.
2. As manager and holder of approximately 90.9% of the outstanding equity in NPEH, 8 Rivers Capital, LLC ("8 Rivers") may be deemed to be a beneficial owner of the securities directly owned by NPEH. 8 Rivers disclaims beneficial ownership of any such securities, except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that 8 Rivers is the beneficial owner of such securities for purposes of Section 16 or otherwise.
3. Damian R. Beauchamp ("Mr. Beauchamp") independently indirectly owns approximately 68.5% of 8 Rivers. Accordingly, Mr. Beauchamp may be deemed the indirect beneficial owner of the securities owned by NPEH to the extent of his pecuniary interest therein. Mr. Beauchamp disclaims beneficial ownership of any such securities, except to the extent of his or her pecuniary interest therein, if any, and this report shall not be deemed an admission that Mr. Beauchamp is the beneficial owner of such securities for purposes of Section 16 or otherwise.
By: /s/ Min Lee, General Counsel of 8 Rivers Capital, LLC 12/11/2025
By: /s/ Damian R. Beauchamp 12/11/2025
** 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 4 (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 Number.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did NET Power (NPWR) disclose in this Form 4?

The filing reports that NPEH, LLC, an affiliated entity of a NET Power director, sold 40,000 shares of Class A common stock on 12/09/2025.

At what prices were the NET Power (NPWR) shares sold in this transaction?

The 40,000 shares were sold at a weighted average price of $2.8235 per share, in multiple trades with prices ranging from $2.80 to $2.855 per share.

How many NET Power (NPWR) shares did the reporting entity hold after the sale?

After the reported sale, NPEH, LLC beneficially owned 2,550,000 shares of NET Power Class A common stock, held indirectly.

Who are the entities and individuals linked to the NET Power (NPWR) insider transaction?

The transaction involves NPEH, LLC as the direct holder, 8 Rivers Capital, LLC as manager and majority equity holder of NPEH, and Damian R. Beauchamp, who indirectly owns a majority of 8 Rivers.

Do 8 Rivers Capital and Damian R. Beauchamp claim full beneficial ownership of the NET Power (NPWR) shares?

No. Both 8 Rivers Capital, LLC and Damian R. Beauchamp state that they may be deemed beneficial owners only to the extent of their pecuniary interests and expressly disclaim broader beneficial ownership.

What type of relationship does the reporting person have with NET Power (NPWR)?

The reporting person is identified as a director of NET Power Inc., and the filing is made by more than one reporting person.