Company: NPWR-WT
Filing Date: 2025-04-15
Form Type: 8-K
Source: 0001845437-25-000022
Chunk: 1

Company: NET Power Inc.
Filing Date: 2025-04-15
Form: 8-K
Item: Item 5.02
Chunk 1
---
 June 30, 2025.

Also on April 14, 2025, the Company appointed Daniel J. Rice IV, the Company’s Chief Executive Officer, as President and Interim Chief Financial Officer and Marc Horstman as Chief Operating Officer. Biographical information for Mr. Rice can be found in the Company’s definitive proxy statement on Schedule 14A, which was filed with the Securities and Exchange Commission (the “ SEC”) on April 26, 2024 (the “2024 Annual Meeting Proxy Statement”), and is incorporated herein by reference. In connection with the foregoing change, no new compensatory arrangements were or will be entered into with Mr. Rice, who will continue to also serve as the Company’s Chief Executive Officer and as a member of the Company’s board of directors.

Mr. Horstman, age 50, has served as the Company’s Head of Product Development since joining the Company in May 2023. Prior to joining the Company, he held senior leadership roles at Vertiv Holdings Co., a provider of critical digital infrastructure for data centers, communication networks, and commercial and industrial environments, including Vice President of North America Service Operations from October 2021 to November 2022 and Senior Director of Project Execution from June 2019 to September 2021. Prior to that, at Siemens, Mr. Horstman served as Senior Executive Vice President Americas from April 2017 to December 2018, as Vice President of Global Customer Operations from April 2016 to April 2017, and as Vice President of Global Manufacturing & Test from December 2014 to April 2016. Earlier in his career, he held various project and product leadership roles at Rolls-Royce from 2011 to 2014 and General Electric from 1999 to 2011. Mr. Horstman began his career as an Engineer Officer in the U. S. Army. He holds a B. S. in Mechanical Engineering from the University of Dayton.

As an executive officer of the Company, Mr. Horstman will participate in the Severance Plan, the material terms of which are summarized in the2024 Annual Meeting Proxy Statement. The summary of the Severance Plan in the 2024 Annual Meeting Proxy Statement does not purport to be complete and is qualified in its entirety by reference to the Severance Plan, a copy of which was filed as Exhibit 10.1 to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31,