CEO Robert Piconi was paid $6,432,731 in fiscal year 2025, ↓ down 8.7% from fiscal year 2024 (SEC filing 0001104659-26-044894 ↗): executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.
$6,432,731 ↓ Robert Piconi total, FY2025 | — CEO pay percentile vs peers | — CEO-to-median pay ratio | — Say-on-pay support, latest vote |
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NRGV's next annual pay disclosure, estimated April 17, 2027.est. Filing ↗
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Robert Piconi | $901,164 | $1,573,629 | $2,383,250 | $0 | $1,247,277 | $0 | $327,411 | $6,432,731 |
| Chief Executive Officer and Chairman of the Board | ||||||||
| Akshay Ladwa | 454,908 | 204,351 | 810,305 | 0 | 371,546 | 0 | 3,053 | 1,844,163 |
| Chief Development and Operations Officer | ||||||||
| Michael Beer | 375,000 | 0 | 95,330 | 0 | 408,375 | 0 | 12,250 | 890,955 |
| Chief Financial Officer | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Robert Piconi | $6,432,731 | $7,042,895 | — | ↓ −610,164 |
| Akshay Ladwa | 1,844,163 | 1,650,561 | — | ↑ +193,602 |
| Michael Beer | 890,955 | 2,311,168 | — | ↓ −1,420,213 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
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Each company listed discloses NRGV in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named NRGV in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
One page per director: the seat, the committees and the fee table, read for one person at a time.
| Director | Role | FY2025 total |
|---|---|---|
| Bill Gross | Former director (through FY2025) | $71,250 |
| Dylan Hixon | Independent Director | $159,878 |
| Larry Paulson | Lead Independent Director | $244,189 |
| Mary Beth Mandanas | Independent Director | $224,189 |
| Stephanie Unwin | Independent Director | $222,120 |
| Theresa Fariello | Independent Director | $222,120 |
| Thomas Ertel | Independent Director | $244,189 |
No insider equity transactions reported since the proxy statement.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Akshay Ladwa | Option | 200,040 | 1.86 | — |
| Robert Piconi | RSU | 1,294,250 | — | 5,966,493 |
| Michael Beer | RSU | 375,000 | — | 1,728,750 |
| Robert Piconi | RSU | 2,500,000 | — | 11,525,000 |
| Michael Beer | Option | 500,000 | 1.17 | — |
| Robert Piconi | PSU | 1,300,000 | — | 5,993,000 |
| Akshay Ladwa | RSU | 850,000 | — | 3,918,500 |
| Akshay Ladwa | RSU | 229,625 | — | 1,058,571 |
| Robert Piconi | PSU | 199,048 | — | 917,611 |
| Michael Beer | PSU | 200,000 | — | 922,000 |
| Robert Piconi | RSU | 162,500 | — | 749,125 |
| Michael Beer | RSU | 100,000 | — | 461,000 |
| Akshay Ladwa | RSU | 33,438 | — | 154,149 |
| Robert Piconi | Option | 766,820 | 1.86 | — |
Compensation is designed to attract and retain talent, aligning executive pay with company performance and stockholder interests through a mix of base salary, annual cash incentives, and long-term eq
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | — |
| Clawback policy | true |
| Anti-hedging | — |
| Anti-pledging | — |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Thomas ErtelIndependent · Compensation Committee · Audit Committee (Chair) | $75,000 | $169,189 | — | — | — | $244,189 |
| Larry PaulsonIndependent · Lead Independent Director · Compensation (Chair) · Nominating and Corporate Governance | 75,000 | 169,189 | 0 | 0 | 0 | 244,189 |
| Mary Beth MandanasIndependent · Audit Committee · Nominating and Corporate Governance Committee (Chair) | 75,000 | 169,189 | — | — | — | 224,189 |
| Stephanie UnwinIndependent · Audit Committee | 75,000 | 147,120 | — | — | — | 222,120 |
| Theresa FarielloIndependent · Compensation Committee · Nominating and Corporate Governance Committee | 75,000 | 147,120 | — | — | — | 222,120 |
| Dylan HixonIndependent | 56,250 | 103,371 | — | — | 257 | 159,878 |
| Bill GrossIndependent | 18,750 | 52,500 | — | — | — | 71,250 |
| Robert PiconiEmployee director · Board Chair · Audit | — | — | — | — | — | 0 |
| Annual cash retainer | $75,000 |
|---|---|
| Annual equity retainer | $15,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | — |
| Stock ownership guideline | — |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $450,000 |
| Equity awards (grant-date value) | $957,678 |
| All other compensation | $257 |
| Total cost of the board | $1,407,935 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Energy Vault Holdings | 2025 | Robert Piconi | $901,164 | $2,383,250 | $0 | $1,247,277 | $6,432,731 |
Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Robert Piconi | DEF 14A | 2026-04-17 | 0001104659-26-044894 | Section “Executive Compensation”. As printed: 6,432,731. Filing ↗machine: span 242449–242458 |
| 2 | Section 01, Akshay Ladwa | DEF 14A | 2026-04-17 | 0001104659-26-044894 | Section “Executive Compensation”. As printed: 1,844,163. Filing ↗machine: span 254480–254489 |
| 3 | Section 01, Michael Beer | DEF 14A | 2026-04-17 | 0001104659-26-044894 | Section “Executive Compensation”. As printed: 890,955. Filing ↗machine: span 248472–248479 |
| 4 | Section 08, Thomas Ertel | DEF 14A | 2026-04-17 | 0001104659-26-044894 | Section “Director Compensation”. As printed: 244,189. Filing ↗machine: span 393351–393358 |
| 5 | Section 08, Larry Paulson | DEF 14A | 2026-04-17 | 0001104659-26-044894 | Section “Director Compensation”. As printed: 244,189. Filing ↗machine: span 389960–389967 |
| 6 | Section 08, Mary Beth Mandanas | DEF 14A | 2026-04-17 | 0001104659-26-044894 | Section “Director Compensation”. As printed: 224,189. Filing ↗machine: span 394479–394486 |
| 7 | Section 08, Stephanie Unwin | DEF 14A | 2026-04-17 | 0001104659-26-044894 | Section “Director Compensation”. As printed: 222,120. Filing ↗machine: span 392263–392270 |
| 8 | Section 08, Theresa Fariello | DEF 14A | 2026-04-17 | 0001104659-26-044894 | Section “Director Compensation”. As printed: 222,120. Filing ↗machine: span 395571–395578 |
| 9 | Section 08, Dylan Hixon | DEF 14A | 2026-04-17 | 0001104659-26-044894 | Section “Director Compensation”. As printed: 159,878. Filing ↗machine: span 396775–396782 |
| 10 | Section 08, Bill Gross | DEF 14A | 2026-04-17 | 0001104659-26-044894 | Section “Director Compensation”. As printed: 71,250. Filing ↗machine: span 391139–391145 |
| 11 | Section 08, Robert Piconi | DEF 14A | 2026-04-17 | 0001104659-26-044894 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 12 | Section 01 trend, Δ column (computed) | Computed | — | — | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 13 | Section 09b board cost (computed) | Computed | — | — | Cash 450,000 + equity 957,678 + all other 257 = 1,407,935, summed across the director compensation table rows.machine: formula: Σ = 1,407,935 |
| 14 | Energy Vault Holdings (subject), Section 10b CEO total | DEF 14A | 2026-04-17 | 0001104659-26-044894 | CEO total compensation as printed in Energy Vault Holdings's own proxy. As printed: 6,432,731. Filing ↗machine: span 242449–242458 |
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