CFO at Venture Global (VG) sells 222K shares after option exercise

Rhea-AI Filing Summary

Venture Global, Inc. Chief Financial Officer Jonathan W. Thayer reported an exercise-and-sale of equity awards. On April 20 and 21, he exercised options to acquire a total of 222,223 shares of Class A Common Stock at $1.16 per share and sold the same number of shares in open-market transactions.

The April 20 sale covered 111,112 shares at a weighted average price of $11.5004, and the April 21 sale covered 111,111 shares at a weighted average price of $11.8929, with trades executed across price ranges noted in the footnotes. Following these transactions, Thayer reported no directly held Class A shares but continued to hold 19,157,212 stock options that are fully vested and exercisable, expiring on June 17, 2030.

Insights

Equity compensation analyst

CFO executes routine option exercises and matching stock sales, retaining a large option position.

The filing shows Jonathan W. Thayer, CFO of Venture Global, Inc., exercised options for 222,223 Class A shares at $1.16 per share, then sold the same number of shares in open-market trades at weighted average prices around $11.50–$11.89.

This is a classic exercise-and-sell pattern: options are converted into shares and immediately sold, turning derivative compensation into cash. The filing also reports that the relevant stock option is fully vested and exercisable, and that weighted-average sale prices reflect multiple trades within specified price ranges.

After these transactions, Thayer reports no directly held Class A shares but still holds 19,157,212 stock options expiring on June 17, 2030. The exercised amount is small relative to the remaining options, suggesting a routine liquidity transaction rather than a wholesale change in equity exposure based on the data provided here.

Insider Trade Summary 10b5-1

Net Seller: 222,223 shares ($2,599,264)

Net Sell 6 txns

Insider Thayer Jonathan W

Role Chief Financial Officer

Sold 222,223 shs ($2.60M)

Type	Security	Shares	Price	Value
Exercise	Stock Options	111,111	$0.00	--
Exercise	Class A Common Stock	111,111	$1.16	$129K
Sale	Class A Common Stock	111,111	$11.8929	$1.32M
Exercise	Stock Options	111,112	$0.00	--
Exercise	Class A Common Stock	111,112	$1.16	$129K
Sale	Class A Common Stock	111,112	$11.5004	$1.28M

Holdings After Transaction: Stock Options — 19,157,212 shares (Direct, null); Class A Common Stock — 111,111 shares (Direct, null)

Footnotes (1)

1. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.35 to $11.74 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 sold at each separate price within the ranges set forth in this footnote. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.53 to $12.23 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 sold at each separate price within the ranges set forth in this footnote. This stock option is fully vested and exercisable.

Key Figures

Shares sold: 222,223 shares Exercise price: $1.16 per share April 20 weighted average sale price: $11.5004 per share +4 more

7 metrics

Shares sold 222,223 shares Total Class A Common Stock sold across April 20–21 transactions

Exercise price $1.16 per share Stock option exercise price for 222,223 underlying Class A shares

April 20 weighted average sale price $11.5004 per share 111,112 Class A shares sold; trades ranged $11.35–$11.74

April 21 weighted average sale price $11.8929 per share 111,111 Class A shares sold; trades ranged $11.53–$12.23

Net share change -222,223 shares Net buy/sell direction reported as net-sell in transaction summary

Remaining stock options 19,157,212 options Stock options held after April 21 derivative transaction

Option expiration date June 17, 2030 Expiration date for the reported fully vested stock option

Key Terms

open-market sale, derivative exercise/conversion, weighted average price, stock option, +1 more

5 terms

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

derivative exercise/conversion financial

"transaction_action": "derivative exercise/conversion""

weighted average price financial

"The price reported is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

stock option financial

"This stock option is fully vested and exercisable."

A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.

fully vested and exercisable financial

"This stock option is fully vested and exercisable."

Form 4 Insider Transactions: What Each Field Means →

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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

X

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^*

Thayer Jonathan W

(Last) (First) (Middle)

C/O VENTURE GLOBAL, INC.

1001 19TH STREET NORTH, SUITE 1500

(Street)

ARLINGTON VIRGINIA 22209

(City) (State) (Zip)

UNITED STATES

(Country)

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)
	Chief Financial Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/20/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	04/20/2026		M		111,112	A	$1.16	111,112	D
Class A Common Stock	04/20/2026		S		111,112	D	$11.5004(1)	0.00	D
Class A Common Stock	04/21/2026		M		111,111	A	$1.16	111,111	D
Class A Common Stock	04/21/2026		S		111,111	D	$11.8929(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	$1.16	04/20/2026		M			111,112	(3)	06/17/2030	Class A Common Stock	111,112	$0.00	19,268,323	D
Stock Options	$1.16	04/21/2026		M			111,111	(3)	06/17/2030	Class A Common Stock	111,111	$0.00	19,157,212	D

Explanation of Responses:

1. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.35 to $11.74 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 sold at each separate price within the ranges set forth in this footnote.

2. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.53 to $12.23 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 sold at each separate price within the ranges set forth in this footnote.

3. This stock option is fully vested and exercisable.

Remarks:

	/s /Keith Larson, Attorney-in-Fact for Thayer Jonathan W	04/21/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What did VG CFO Jonathan W. Thayer report in this Form 4?

He reported exercising stock options for 222,223 Class A shares at $1.16 each and selling the same number of shares in open-market transactions at weighted average prices around $11.50–$11.89 over two days, converting option-based compensation into cash.

How many Venture Global (VG) shares did the CFO sell and at what prices?

Jonathan W. Thayer sold 222,223 Class A Common Stock shares. On April 20, 111,112 shares sold at a weighted average $11.5004. On April 21, 111,111 shares sold at a weighted average $11.8929, with individual trades spanning stated price ranges.

What stock options did the VG CFO exercise in this filing?

He exercised stock options covering 222,223 underlying Class A shares at a conversion or exercise price of $1.16 per share. The filing notes that this stock option is fully vested and exercisable, allowing him to convert those options into common stock for sale.

What are Jonathan W. Thayer’s remaining equity holdings in Venture Global (VG)?

After the reported transactions, he shows no directly held Class A Common Stock and retains 19,157,212 stock options. These options are fully vested and exercisable and are scheduled to expire on June 17, 2030, according to the filing details.

Did the VG CFO’s reported sales occur in single trades or multiple transactions?

The sales occurred in multiple transactions. Footnotes state the reported prices are weighted averages, with individual trades executed within price ranges of $11.35–$11.74 on one day and $11.53–$12.23 on another, covering all shares sold in each batch.

What transaction pattern does the VG Form 4 show for the CFO?

It shows an exercise-and-sell pattern. Jonathan W. Thayer exercised options for 222,223 shares at $1.16 each and sold all corresponding shares in open-market trades shortly thereafter, resulting in cash proceeds while retaining a substantial remaining option position.