Company: NPWR-WT
Filing Date: 2025-06-06
Form Type: 8-K
Source: 0001845437-25-000044
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Company: NET Power Inc.
Filing Date: 2025-06-06
Form: 8-K
Item: Item 5.02
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On June 6, 2025, it was determined that Kelly Rosser will no longer serve as Chief Accounting Officer of Net Power Inc. (the “ Company”), effective as of June 15, 2025 (the “ Effective Date”). In connection with her departure, the Company expects to pay Ms. Rosser an amount equal to six months of her salary plus her pro-rated annual bonus for 2025 under the Company’s short-term incentive plan. The Company will also pay for six months of Consolidated Omnibus Budget Reconciliation Act continuation of Ms. Rosser’s healthcare premium coverage. Further, 41,743 outstanding restricted stock units subject to time-based vesting conditions held by Ms. Rosser will vest as of the Effective Date.

Also on June 6, 2025, the Company appointed Caleb Van Dolah as the Company’s principal accounting officer, effective as of June 15, 2025. Mr. Van Dolah, 42, has served as Controller of the Company since May 2024. From September 2022 to March 2024, Mr. Van Dolah served as Controller of Urban Grid Solar Projects, LLC, an independent power producer and portfolio company of Brookfield Renewable Partners L. P., where he led the accounting and financial reporting functions of the company. From January 2022 to August 2022, Mr. Van Dolah served as a Director in the Accounting Advisory Services practice of Grant Thornton LLP, where he assisted clients with technical accounting matters. From August 2020 to November 2021, Mr. Van Dolah served as Director of Accounting at Avelo Airlines, Inc., a startup domestic passenger airline, where he was responsible for all aspects of accounting and financial reporting. From November 2015 to July 2020, Mr. Van Dolah served in roles of increasing responsibility in the audit practice of Moss Adams LLP, primarily serving startup to middle market clients across various industries. From July 2014 to September 2015, Mr. Van Dolah served as Director of Financial Reporting for Seventy Seven Energy, Inc., where he was responsible for financial reporting and technical accounting following spin-off from Chesapeake Energy Corporation. From April 2010 to June 2014, Mr. Van Dolah held various accounting and financial reporting roles of increasing responsibility at Chesapeake Energy Corporation. Mr.