Net Power extends COO Horstman's stock option exercise rights after termination without cause
NPWR•Net Power amended President and COO Marc Horstman’s option terms, allowing covered options to continue vesting after termination without cause and extending the exercise window for resigning holders from 30 to 90 days. Horstman’s option covers 240,000 shares at $2.13 each and expires June 2, 2030.
1. Amended option terms
Net Power’s board approved amended stock option terms for President and Chief Operating Officer Marc Horstman on November 4, 2026. If the company terminates covered holders without cause, their options continue vesting and remain exercisable to the extent vested until expiration; holders who resign have 90 days, rather than 30, to exercise vested options, subject to expiration. Options are canceled upon termination for cause.
2. Horstman’s option
Granted June 2, 2025, Horstman’s option covers 240,000 Class A Common Stock shares at $2.13 per share and became fully vested on June 2, 2026. It expires June 2, 2030; the amendment leaves its exercise price and expiration date unchanged.
