VST CEO Burke exercises 22k options at $19.68, sells shares
Rhea-AI Filing Summary
Vistra Corp. (VST) reporting person James A. Burke, President and CEO, filed a Form 4 disclosing option exercises and open-market sales executed under a Rule 10b5-1 plan adopted June 12, 2025. On 09/30/2025 and 10/01/2025 he was recorded as acquiring 22,000 option shares on each date at an exercise price of $19.68 and subsequently selling several blocks of common stock, including an aggregate weighted-average sale at $199.30 on 09/30/2025 and additional sales on 10/01/2025 at prices reported up to $195 and $192.87. The filings show his direct beneficial ownership moving through reported balances of 271,016, 253,815 and derivative holdings reported as 432,052 and 410,052 shares following the transactions. Indirect holdings include 701,514 shares held by JAMEB, LP and additional trusts holding 34,000 and 259 shares.
Positive
- Options exercised at $19.68 on 09/30/2025 and 10/01/2025, converting compensation into equity
- Significant indirect holdings remain: 701,514 shares via JAMEB, LP plus trusts holding 34,000 and 259 shares
- Transactions executed under a documented Rule 10b5-1 plan adopted June 12, 2025
Negative
- Large open-market sales reported, including a weighted-average sale at $199.30 on 09/30/2025, reducing direct holdings to 253,815 shares
- Net dilution of derivative-held shares shown by derivative beneficial ownership changing from 432,052 to 410,052 following transactions
Insights
Insider used a 10b5-1 plan to exercise options and sell shares, leaving substantive indirect holdings.
The Form 4 confirms the reporting person adopted a Rule 10b5-1 plan on June 12, 2025, and executed option exercises of 22,000 shares on both 09/30/2025 and 10/01/2025 at an exercise price of $19.68.
The filings show multiple sales on those dates, including a weighted-average sale at $199.30, and the reporting person retains significant indirect ownership via JAMEB, LP: 701,514 shares and trusts holding 34,000 and 259 shares. This pattern is consistent with pre-planned liquidity from option exercises while maintaining meaningful indirect stakes.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | 2018 Employee Stock Option (right to buy) | 22,000 | $0.00 | -- |
| Exercise | Common Stock | 22,000 | $19.68 | $433K |
| Sale | Common Stock | 17,600 | $195.00 | $3.43M |
| Sale | Common Stock | 2,005 | $192.87 | $387K |
| Exercise | 2018 Employee Stock Option (right to buy) | 22,000 | $0.00 | -- |
| Exercise | Common Stock | 22,000 | $19.68 | $433K |
| Sale | Common Stock | 19,596 | $199.30 | $3.91M |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on June 12, 2025. Includes an aggregate of approximately (i) 2,179 shares sold for the cashless exercise of the stock options; and (ii) 7,803 shares sold to pay taxes in connection with the exercise of the stock options. Represents a weighted-average price. These shares were sold in multiple transactions at prices ranging from $199.30 to $199.314, inclusive. For all transactions reported in this Form 4 utilizing a weighted-average price, the reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range. Includes an aggregate of approximately (i) 1,782 shares sold for the cashless exercise of the stock options; and (ii) 6,227 shares sold to pay taxes in connection with the exercise of the stock options. Includes an aggregate of approximately (i) 450 shares sold for the cashless exercise of the stock options; and (ii) 1555 shares sold to pay taxes in connection with the exercise of the stock options. Options vested 50% 4 years from the grant date with the remaining 50% vesting 5 years from the grant date.
