4//SEC Filing
Derham Kyle 4
Accession 0001213900-23-068983
CIK 0001845437other
Filed
Aug 17, 8:00 PM ET
Accepted
Aug 18, 4:30 PM ET
Size
13.9 KB
Accession
0001213900-23-068983
Insider Transaction Report
Form 4
NET Power Inc.NPWR
Derham Kyle
DirectorPresident and CFO10% Owner
Transactions
- Conversion
Class B Units of NET Power Operations LLC
2023-08-16−286,320→ 0 total(indirect: By Trust)→ Class A Common Stock (286,320 underlying) - Conversion
Class A Units of NET Power Operations LLC
2023-08-16+1,390,348→ 1,390,348 total→ Class A Common Stock (1,390,348 underlying) - Conversion
Class B Units of NET Power Operations LLC
2023-08-16−1,390,348→ 0 total→ Class A Common Stock (1,390,348 underlying) - Conversion
Class A Units of NET Power Operations LLC
2023-08-16+286,320→ 286,320 total(indirect: By Trust)→ Class A Common Stock (286,320 underlying)
Footnotes (4)
- [F1]The Class B Units of NET Power Operations LLC ("Opco") are convertible into Class A Units of Opco on a one-for-one basis pursuant to the terms of the limited liability company agreement of Opco (the "Opco LLCA"). The Class A Units of Opco (together with the corresponding shares of the issuer's Class B common stock) are then exchangeable into cash or shares of the issuer's Class A common stock on a one-for-one basis, at the issuer's election, and have no expiration date.
- [F2]On August 16, 2023, pursuant to the Opco LLCA, all Class B Units of Opco converted into Class A Units of Opco on a one-for-one basis due to the exercise on such date by a member of Opco of its Class B Conversion Right (as defined in the Opco LLCA).
- [F3]The Opco Class A Units (together with the corresponding shares of the issuer's Class B common stock) are exchangeable into cash or shares of the issuer's Class A common stock on a one-for-one basis, at the issuer's election, and have no expiration date.
- [F4]The reporting person is the trustee of The Derham Children's Trust of 2020 (the "Trust"). By virtue of the relationship, the reporting person may be deemed to have or share beneficial ownership of the securities held of record by the Trust, but the reporting person disclaims any beneficial ownership of the reported securities other than to the extent of any pecuniary interest he may have therein, directly or indirectly.
Documents
Issuer
NET Power Inc.
CIK 0001845437
Entity typeother
Related Parties
1- filerCIK 0001786795
Filing Metadata
- Form type
- 4
- Filed
- Aug 17, 8:00 PM ET
- Accepted
- Aug 18, 4:30 PM ET
- Size
- 13.9 KB