Venture Global (VG) Insider Exercises Options at $0.79, Sells at ~$13.03

Rhea-AI Filing Summary

Keith D. Larson, General Counsel and Secretary of Venture Global, Inc. (VG), reported exercises of vested stock options and contemporaneous sales of the resulting Class A shares on August 21-22, 2025. On 08/21/2025 he exercised options covering 94,145 shares at a $0.79 exercise price and sold those 94,145 shares at a weighted-average price of $13.01, leaving 0 Class A shares from that tranche. On 08/22/2025 he exercised options covering 394,864 shares at $0.79 and sold those 394,864 shares at a weighted-average price of $13.03, leaving 0 from that tranche. The filing notes the options are fully vested and exercisable and discloses aggregate derivative holdings reflected after the transactions.

Positive

• Complete disclosure of option exercises and sales with weighted-average prices and footnote details
• Options fully vested and exercisable, indicating no acceleration or special vesting treatment in this filing
• Reporting person committed to provide detailed per-transaction pricing upon SEC staff request

Negative

• Immediate sales of exercised shares left zero net shares from those tranches, indicating insider monetization rather than long-term hold
• Large number of derivative shares reported (aggregate post-transaction derivative amounts exceed 13 million in filings), which may reflect dilution potential

Insights

Financial Analyst

TL;DR: Insider exercised vested options and sold all resulting shares over two days; activity appears routine and largely liquidity-driven.

The filing documents option exercises at a $0.79 exercise price and immediate open-market sales at weighted-average prices near $13.01–$13.03 for 489,009 shares in total. The transactions reduced the reporter's direct Class A share balance from the exercised amounts to zero for those specific tranches while showing substantial aggregate derivative positions reported post-transaction. For investors, this is a disclosure of insider monetization rather than an operational update; it provides transparency about executive equity realization and outstanding option coverage.

Corporate Governance Expert

TL;DR: The report shows fully vested options exercised and sold promptly; disclosure is complete and includes price ranges as required.

The Form 4 identifies the reporting person, relationship to the issuer, exercise and sale dates, exercise price, weighted-average sale prices, and a statement that the options are fully vested and exercisable. Footnotes provide ranges for transaction prices and note adjustment for a prior stock split. From a governance perspective, the filing follows Section 16 reporting conventions and provides willingness to supply per-transaction pricing detail on request.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Larson Keith D

(Last) (First) (Middle)

C/O VENTURE GLOBAL, INC.

1001 19TH STREET NORTH, SUITE 1500

(Street)

ARLINGTON VA 22209

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Venture Global, Inc. [ VG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	General Counsel and Secretary

3. Date of Earliest Transaction (Month/Day/Year)
08/21/2025

4. If Amendment, Date of 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

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
Class A Common Stock	08/21/2025		M		94,145	A	$0.79	94,145	D
Class A Common Stock	08/21/2025		S		94,145	D	$13.01(1)	0.00	D
Class A Common Stock	08/22/2025		M		394,864	A	$0.79	394,864	D
Class A Common Stock	08/22/2025		S		394,864	D	$13.03(2)	0.00	D

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 Securities Underlying Derivative Security (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: 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
Stock Options	$0.79(3)	08/21/2025		M			94,145(3)	(4)	07/01/2027	Class A Common Stock	94,145(3)	$0.00	13,466,850(3)	D
Stock Options	$0.79(3)	08/22/2025		M			394,864(3)	(4)	07/01/2027	Class A Common Stock	394,864(3)	$0.00	13,071,986(3)	D

Explanation of Responses:

1. The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $13 to $13.04 per share, inclusive. Upon request by the staff of the Securities and Exchange Commission, the Issuer or any securityholder of the Issuer, the Reporting Person undertakes to provide full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.

2. The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $13 to $13.08 per share, inclusive. Upon request by the staff of the Securities and Exchange Commission, the Issuer or any securityholder of the Issuer, the Reporting Person undertakes to provide full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.

3. This stock option was previously reported as covering 3,000 shares of Class A Common Stock at an exercise price of $3,568 per share but was adjusted to reflect the stock split that occurred immediately prior to the consummation of the Issuer's initial public offering.

4. This option is fully vested and exercisable.

Remarks:

	/s/ Keith Larson	08/25/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transactions did Keith D. Larson report for VG on Form 4?

He exercised options covering 94,145 shares on 08/21/2025 and sold those shares at a weighted-average price of $13.01; he exercised 394,864 shares on 08/22/2025 and sold them at a weighted-average price of $13.03.

What was the exercise price for the options exercised by the VG reporting person?

The reported exercise price was $0.79 per share for the options exercised on both dates.

Did the reporting person retain the shares obtained from the exercises?

No; the Form 4 shows 0 Class A shares remaining from those exercised tranches after the reported sales.

Are the options described in the filing vested and exercisable?

Yes; the filing states the relevant stock options are fully vested and exercisable.

Does the filing provide per-transaction prices for the sales?

The filing reports weighted-average sale prices and footnotes that the sales occurred in multiple transactions at prices within specified ranges; the reporter offers to provide detailed per-transaction pricing upon SEC staff request.