Venture Global (VG) CCO sells 1M shares after major option exercise

Filing Impact

(Very High)

Filing Sentiment

(Very Negative)

Form Type

Rhea-AI Filing Summary

Venture Global, Inc. Chief Commercial Officer Earl Thomas exercised stock options and sold the underlying shares. He exercised options for 1,000,000 shares of Class A common stock at an exercise price of $0.79 per share in a derivative conversion.

On the same March 9, 2026, he sold 1,000,000 shares of Class A common stock in open-market or private transactions at a weighted average price of $11.826 per share, with individual sale prices ranging from $11.47 to $12.35 per share. Following these transactions, he held 5,540,663 stock options directly.

Insights

Large option exercise paired with same-day share sale appears as routine equity monetization.

The Chief Commercial Officer, Earl Thomas, exercised stock options covering 1,000,000 shares at an exercise price of $0.79 per share. This was reported as an exercise or conversion of a derivative security, and the option is described as fully vested and exercisable.

He then sold 1,000,000 shares of Class A common stock on March 9, 2026 at a weighted average price of $11.826, across a disclosed range of $11.47 to $12.35. Afterward, he continued to hold 5,540,663 stock options directly, indicating significant remaining equity exposure.

The net effect is a same-size exercise and sale in the underlying stock while retaining a substantial option position. Actual implications for shareholders depend on the company’s total shares outstanding and broader insider trading patterns, which are not detailed in this data.

Insider Trade Summary

Net Seller: 1,000,000 shares ($11,826,000)

Net Sell 3 txns

Insider Earl Thomas

Role Chief Commercial Officer

Sold 1,000,000 shs ($11.83M)

Type	Security	Shares	Price	Value
Exercise	Stock Options	1,000,000	$0.00	--
Exercise	Class A Common Stock	1,000,000	$0.79	$790K
Sale	Class A Common Stock	1,000,000	$11.826	$11.83M

Holdings After Transaction: Stock Options — 5,540,663 shares (Direct); Class A Common Stock — 1,000,000 shares (Direct)

Footnotes (1)

The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.47 to $12.35 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.

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Form 4 Insider Transactions: What Each Field Means →

03/09/2026 - 06:16 PM

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).

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^*

Earl Thomas

(Last)

(First)

(Middle)

C/O VENTURE GLOBAL, INC.

1001 19TH STREET NORTH, SUITE 1500

(Street)

ARLINGTON

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)
	Chief Commercial Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/09/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	03/09/2026		M		1,000,000	A	$0.79	1,000,000	D
Class A Common Stock	03/09/2026		S		1,000,000	D	$11.826⁽¹⁾	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Options	$0.79	03/09/2026		M			1,000,000	⁽²⁾	07/18/2027	Class A Common Stock	1,000,000	$0.00	5,540,663	D

Explanation of Responses:

1. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.47 to $12.35 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. This stock option is fully vested and exercisable.

Remarks:

	/s /Keith Larson, Attorney-in-Fact for Earl Thomas	03/09/2026
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Earl Thomas report in Venture Global (VG) Form 4?

Earl Thomas reported exercising stock options for 1,000,000 shares of Venture Global Class A common stock, then selling 1,000,000 shares in open-market or private transactions on March 9, 2026, according to the Form 4 filing’s transaction details and footnotes.

At what prices did Earl Thomas sell Venture Global (VG) shares?

Earl Thomas sold 1,000,000 Venture Global Class A shares at a weighted average price of $11.826 per share, with individual sale prices ranging from $11.47 to $12.35, as disclosed in the Form 4 footnote describing the weighted average pricing.

How many Venture Global (VG) stock options does Earl Thomas hold after this Form 4?

After the reported transactions, Earl Thomas directly held 5,540,663 Venture Global stock options. The Form 4 indicates this total in the derivative securities table as the number of options beneficially owned following the option exercise transaction.

Did Earl Thomas buy or sell Venture Global (VG) stock in this Form 4?

The Form 4 shows both an option exercise and a sale. Earl Thomas acquired 1,000,000 shares of Class A common stock through an option exercise, then sold 1,000,000 Class A shares in open-market or private transactions on the same date, resulting in net share sales activity.

What does the option exercise reported for Venture Global (VG) involve?

The option exercise involved converting a fully vested stock option into 1,000,000 shares of Venture Global Class A common stock at an exercise price of $0.79 per share, as described by the derivative exercise transaction code and the footnote stating the option is fully vested and exercisable.