Vistra CFO Sells $6.3M in Shares After Options Exercise at $180 Price Point

Vistra Corp (VST) EVP and CFO Kristopher E. Moldovan executed multiple transactions on June 17, 2025, as part of a pre-planned Rule 10b5-1 trading plan established on December 17, 2024.

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Vistra Corp (VST) EVP and CFO Kristopher E. Moldovan executed multiple transactions on June 17, 2025, as part of a pre-planned Rule 10b5-1 trading plan established on December 17, 2024.

The transactions included:

Exercise of 14,169 stock options at $26.56/share (2019 grant)
Exercise of 20,775 stock options at $22.98/share (2020 grant)
Sale of 34,944 common shares at $180.00/share

Following these transactions, Moldovan holds 167,154 shares directly. Both exercised option grants had previously vested in three equal annual installments from their respective grant dates. The transactions demonstrate a significant realization of gains given the substantial difference between the option exercise prices ($22.98-$26.56) and the sale price ($180.00).

Positive

None.

Negative

CFO Kristopher Moldovan executed a significant share sale of 34,944 shares at $180 per share (approximately $6.3 million), after exercising options at much lower prices ($22.98-$26.56), potentially indicating reduced confidence in near-term upside

Insider Trade Summary

Exercise and Sale: 34,944 shares ($5.44M approx. pre-tax spread)

Exercise and Sale 5 txns

Insider Moldovan Kristopher E.

Role EVP and CFO

Sold 34,944 shs ($6.29M)

Approx. gross sale proceeds $6.29M

Approx. exercise cost $854K

Approx. pre-tax spread $5.44M

Type	Security	Shares	Price	Value
Exercise	2019 Employee Stock Option (right to buy)	14,169	$0.00	$0.00
Exercise	2020 Employee Stock Option (right to buy)	20,775	$0.00	$0.00
Exercise	Common Stock	14,169	$26.56	$376K
Exercise	Common Stock	20,775	$22.98	$477K
Sale	Common Stock	34,944	$180.00	$6.29M

Holdings After Transaction: 2019 Employee Stock Option (right to buy) — 0 contracts (Direct); 2020 Employee Stock Option (right to buy) — 0 contracts (Direct); Common Stock — 167,154 shares (Direct)

Footnotes (3)

F1. This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 17, 2024.
F2. Option vested in three equal installments beginning on the first anniversary of February 26, 2019.
F3. Option vested in three equal installments beginning on the first anniversary of February 25, 2020.

FAQ

What insider trading activity occurred at VST on June 17, 2025?

VST's EVP and CFO Kristopher Moldovan exercised stock options and sold shares on June 17, 2025. Specifically, he exercised 14,169 options at $26.56 and 20,775 options at $22.98, then sold 34,944 shares at $180 per share. After these transactions, he owned 167,154 shares directly.

How many VST shares does CFO Kristopher Moldovan own after his June 2025 transactions?

Following the reported transactions on June 17, 2025, CFO Kristopher Moldovan beneficially owns 167,154 shares of VST common stock held directly.

Was VST CFO Moldovan's June 2025 stock sale planned in advance?

Yes, the transactions were executed pursuant to a Rule 10b5-1 trading plan that Moldovan adopted on December 17, 2024, approximately 6 months before the transactions occurred.

What was the sale price of VST shares in CFO Moldovan's June 2025 transaction?

CFO Moldovan sold 34,944 shares of VST common stock at a price of $180 per share on June 17, 2025.

What stock options did VST's CFO exercise in June 2025?

CFO Moldovan exercised two sets of employee stock options: 14,169 options from 2019 with an exercise price of $26.56 (originally expiring 2/26/2029) and 20,775 options from 2020 with an exercise price of $22.98 (originally expiring 2/25/2030).

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Accepted by SEC EDGAR 06/18/2025 - 09:29 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^*

Moldovan Kristopher E.

(Last)

(First)

(Middle)

6555 SIERRA DRIVE

(Street)

IRVING

75039

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Vistra Corp. [ VST ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	EVP and CFO

3. Date of Earliest Transaction (Month/Day/Year)
06/17/2025

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)
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)
Common Stock	06/17/2025		M⁽¹⁾		14,169	A	$26.56	181,323	D
Common Stock	06/17/2025		M⁽¹⁾		20,775	A	$22.98	202,098	D
Common Stock	06/17/2025		S⁽¹⁾		34,944	D	$180	167,154	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)
2019 Employee Stock Option (right to buy)	$26.56	06/17/2025		M⁽¹⁾			14,169	⁽²⁾	02/26/2029	Common Stock	14,169	$0	0	D
2020 Employee Stock Option (right to buy)	$22.98	06/17/2025		M⁽¹⁾			20,775	⁽³⁾	02/25/2030	Common Stock	20,775	$0	0	D

Explanation of Responses:

1. This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 17, 2024.

2. Option vested in three equal installments beginning on the first anniversary of February 26, 2019.

3. Option vested in three equal installments beginning on the first anniversary of February 25, 2020.

Remarks:

	/s/ Yuki Whitmire, as Attorney-in-Fact	06/18/2025
	** 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.

Source: View Original Filing on SEC EDGAR