Venture Global (VG) counsel exercises options on 5M shares and sells stock

Rhea-AI Filing Summary

Venture Global, Inc. General Counsel and Secretary Larson Keith D exercised stock options for a total of 5,000,000 shares of Class A common stock at an exercise price of $0.79 per share and sold all 5,000,000 resulting shares in open-market transactions.

The sales occurred on March 18 and 19, 2026 at weighted average prices of $15.0162 and $15.5495 per share, with individual trades executed in ranges from $15.00 to $15.80. After these sales, he reported no directly held shares of common stock. He also received a new stock option grant covering 500,000 shares at an exercise price of $12.97 per share, vesting in equal quarterly installments over 16 quarters.

Insights

Equity compensation analyst

Large exercise-and-sell plus a new multi-year option grant.

Larson Keith D exercised stock options for 5,000,000 shares at $0.79 per share and sold all related shares in open-market transactions around $15–$16. This is a classic exercise-and-sell pattern that converts an in-the-money option position into cash rather than increasing equity exposure.

He also received a new stock option grant for 500,000 shares at $12.97, vesting quarterly over 16 periods, which ties compensation to future share performance. The filing shows no directly held common shares after the transactions, so his exposure appears to be primarily through options. Overall, this looks like a liquidity event combined with refreshed long-term incentives, and the net-sell signal must be weighed against the continuing option-based alignment.

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

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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).

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^*

Larson Keith D

(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)
	General Counsel and Secretary

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/18/2026

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	03/18/2026		M		1,793,862	A	$0.79	1,793,862	D
Class A Common Stock	03/18/2026		S		1,793,862	D	$15.0162(1)	0.00	D
Class A Common Stock	03/19/2026		M		3,206,138	A	$0.79	3,206,138	D
Class A Common Stock	03/19/2026		S		3,206,138	D	$15.5495(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	$12.97	03/18/2026		A		500,000		(3)	03/18/2036	Class A Common Stock	500,000	$0.00	500,000	D
Stock Options	$0.79	03/18/2026		M			1,793,862	(4)	07/01/2027	Class A Common Stock	1,793,862	$0.00	10,795,425	D
Stock Options	$0.79	03/19/2026		M			3,206,138	(4)	07/01/2027	Class A Common Stock	3,206,138	$0.00	7,589,287	D

Explanation of Responses:

1. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $15.00 to $15.09 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 $15.30 to $15.80 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 shall vest in equal quarterly installments on each of the first 16 quarterly anniversaries of the grant date, subject to the reporting person's continuous service through each applicable vesting date.

4. This stock option is fully vested and exercisable.

Remarks:

	/s /Keith Larson, Attorney-in-Fact for Larson Keith D	03/19/2026
	** 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)