Company: NPWR-WT
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001845437-25-000061
Chunk: 56

Company: NET Power Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 56
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 30, 2025:In thousands, except per share dataQuantityWeighted-Average Grant Date Fair Value Per ShareUnvested, beginning of period128$16.24 Granted5242.89 Forfeited(330)5.03 Unvested, end of period322$6.00 Stock OptionsAs of September 30, 2025, there was $3.3 million of unrecognized share-based compensation expense related to stock options. The stock options granted to employees during 2025 vest on the one-year anniversary of the date of grant. The Company will recognize compensation expense from the grant date through the expected vesting date. The fair value of the Company’s stock option grants was estimated utilizing the following range of assumptions using the Black-Scholes Merton model:Weighted average expected life3 yearsRisk-free interest rates3.58% - 3.87%Expected volatility86.0% - 89.6%The following table presents a summary of stock option activity during the nine months ended September 30, 2025:In thousands, except per share dataQuantityWeighted-Average Exercise Price Per ShareUnvested, beginning of period2,460$11.30 Granted4,1632.14 Forfeited(141)2.13 Unvested, end of period6,482$5.62 Restricted Stock UnitsAs of September 30, 2025, there was $6.1 million of unrecognized share-based compensation expense related to unvested restricted stock units (“RSUs”), which the Company expects to recognize over a weighted average period of three years. Generally, RSUs granted to employees and the majority of executives either cliff-vest on the three-year anniversary of the date of grant or vest ratably on each anniversary of the date of grant over a three-year period. Annual awards granted to independent directors cliff-vest on the first anniversary of each award’s grant date.

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The following table presents a summary of RSU activity during the nine months ended September 30, 2025:In thousands, except per share dataQuantityWeighted-Average Grant Date Fair Value Per ShareUnvested, beginning of period2,132$11.54 Granted2,1142.58 Vested(383)8.04 Forfeited(387)3.51 Unvested, end of period3,476$7.35 Refer to Note 14 — Related Party Transactions for