Energy Vault Holdings, Inc. current report, 18 January 2023

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Energy Vault Holdings, Inc. — Form 8-K Summary

Reporting date: January 18, 2023; filed January 24, 2023. This Form 8-K reports a board transition and related press release, not financial results.

Business Context and Reporting Period

  • Energy Vault Holdings, Inc. is incorporated in Delaware and trades on the NYSE under the symbol NRGV.
  • The company reported the resignation of Henry Elkus as a director and from the Nomination and Corporate Governance Committee, effective February 1, 2023.
  • The company elected Theresa M. “Terri” Fariello as a Class II director, effective February 1, 2023, with a term expiring at the 2023 Annual Meeting of Shareholders.

Financial Metrics and Capitalization

The filing does not provide revenue, profit, cash flow, margin, debt, liquidity, operating, or other financial metrics.

Material Changes

  • Ms. Fariello was appointed to the Nomination and Corporate Governance Committee to fill the vacancy created by Mr. Elkus’s departure.
  • Mr. Elkus’s resignation was not due to any disagreement with the company regarding operations, policies, practices, or other matters.
  • Ms. Fariello will participate in the company’s existing non-employee director compensation program.

Outlook, Risks, and Unusual Items

  • Ms. Fariello has experience in government affairs, environmental affairs, energy policy, and corporate governmental relations, including prior roles at United Airlines, ExxonMobil, the U.S. Department of Energy, and Occidental Petroleum.
  • The filing states that there are no arrangements or understandings related to her selection as director and no related-party transactions requiring disclosure under Item 404(a) of Regulation S-K.
  • Exhibit 99.1 is described as a press release dated January 19, 2022, although the filing’s event description refers to a January 19, 2023 press release; investors should verify the correct date in the exhibit.

Key Facts for Investor Verification

  • Confirm the effective date of the director transition: February 1, 2023.
  • Review Exhibit 99.1 for the complete appointment announcement and verify its stated date.
  • Review subsequent filings for Ms. Fariello’s compensation, committee assignments, and confirmation or re-election status.
  • Do not infer financial performance or guidance from this filing; no such information is provided.