FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Terruzzin Marco
  2. Issuer Name and Ticker or Trading Symbol
Energy Vault Holdings, Inc. [NRGV]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chief Product Officer
(Last)
(First)
(Middle)
4360 PARK TERRACE DRIVE, SUITE 100
3. Date of Earliest Transaction (Month/Day/Year)
07/06/2022
(Street)

WESTLAKE VILLAGE, CA 91361
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 07/06/2022   S   64,348 D (1) (2) 545,267 D  

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Terruzzin Marco
4360 PARK TERRACE DRIVE, SUITE 100
WESTLAKE VILLAGE, CA 91361
      Chief Product Officer  

Signatures

 /s/ Daniel Gunning, Attorney-in-Fact   07/08/2022
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) On July 23, 2021, the Reporting Person sold 20,000 shares to a third party for $1.8 million in aggregate consideration pursuant to a stock purchase agreement (the "SPA"). The SPA provided that, for no further consideration, the Reporting Person would transfer additional shares to the third party purchaser if the initial public listing price of Energy Vault, Inc., a Delaware corporation ("Legacy Energy Vault") did not achieve a certain minimum share price target, and the Reporting Person agreed to transfer an additional 9,500 shares of Legacy Energy Vault's common stock to the third party purchaser.
(2) On February 11, 2022, the Issuer's business combination with Legacy Energy Vault closed (the "Closing"), and each share of Legacy Energy Vault's common stock was converted into the right to receive 6.7735 shares of the Issuer's common stock pursuant to the terms of that certain Business Combination Agreement and Plan of Reorganization, dated September 8, 2021, by and between Issuer, NCCII Merger Corp., a wholly owned subsidiary of the Issuer, and Legacy Energy Vault. This did not meet the minimum share price target and on July 6, 2022, the Reporting Person transferred 64,348 shares to the third party purchaser (which reflected the effect of the exchange ratio in the merger), which shares are subject to same transfer restrictions provided by the lock-up agreements that the Issuer entered into with the third party purchaser and certain other equityholders of the Issuer and Legacy Energy Vault in connection with the Closing.

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