Energy Vault Holdings, Inc. Issues Inducement Grants In Accordance With NYSE Listing Rule 303A.08

Energy Vault Holdings, Inc., a global company specializing in energy storage solutions, announced that on March 5, 2025, its Board of Directors’ Compensation Committee granted restricted stock unit (RSU) awards to 12 newly hired, non-executive employees. The awards, totaling 637,600 shares of the company’s common stock, were issued under the Energy Vault Holdings, Inc. 2022 Employment Inducement Award Plan, which has been amended and/or restated as needed.

These RSU grants were made in accordance with the New York Stock Exchange Listing Rule 303A.08, which permits equity awards to be given as a material inducement for new employees to join a company. The Inducement Award Plan is designed specifically for this purpose and is limited to individuals who are either new hires or rehires following a legitimate break in employment.

Each RSU award is subject to a vesting schedule. 25% of the shares will vest on the one-year anniversary of the employee’s vesting commencement date, assuming continued employment with Energy Vault. The remaining 75% will vest in equal installments of 6.25% every three months thereafter, provided the employee continues to serve at the company. The awards are governed by the terms of the Inducement Award Plan and individual award agreements signed by each employee.