0001845437-24-000011.txt : 20240404 0001845437-24-000011.hdr.sgml : 20240404 20240404161107 ACCESSION NUMBER: 0001845437-24-000011 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20240402 FILED AS OF DATE: 20240404 DATE AS OF CHANGE: 20240404 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: ALLEN BRIAN F. CENTRAL INDEX KEY: 0001975816 ORGANIZATION NAME: FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-40503 FILM NUMBER: 24823252 MAIL ADDRESS: STREET 1: C/O NET POWER, LLC STREET 2: 404 HUNT STREET, STE 410 CITY: DURHAM STATE: NC ZIP: 27701 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: NET Power Inc. CENTRAL INDEX KEY: 0001845437 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRICAL INDUSTRIAL APPARATUS [3620] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 981580612 STATE OF INCORPORATION: NC FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 320 RONEY STREET, SUITE 200 CITY: DURHAM STATE: NC ZIP: 27701 BUSINESS PHONE: (919) 287-4750 MAIL ADDRESS: STREET 1: 320 RONEY STREET, SUITE 200 CITY: DURHAM STATE: NC ZIP: 27701 FORMER COMPANY: FORMER CONFORMED NAME: Rice Acquisition Corp. II DATE OF NAME CHANGE: 20210210 4 1 wk-form4_1712261457.xml FORM 4 X0508 4 2024-04-02 0 0001845437 NET Power Inc. NPWR 0001975816 ALLEN BRIAN F. 320 RONEY STREET SUITE 200 DURHAM NC 27701 0 1 0 0 COO and President 0 Restricted Stock Units 2024-04-02 4 A 0 37610 0 A 37610 D Restricted Stock Units 2024-04-02 4 A 0 411467 0 A 449077 D Performance Stock Units 2024-04-02 4 A 0 37610 0 A Class A Common Stock 37610 37610 D Restricted stock units that vest in three equal installments on each anniversary of April 2, 2024, subject to continued employment. 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." 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. /s/ James Mahon, attorney-in-fact 2024-04-04