Vistra Corp. insider exercises 2018 options and trims holdings

Rhea-AI Filing Summary

Vistra Corp. (VST) executive vice president and President of Vistra Retail reported an equity transaction. On 11/14/2025, the officer exercised 56,000 employee stock options with an exercise price of $19.68 per share, acquiring the same number of Vistra common shares. That same day, the officer sold 56,000 common shares at a weighted-average price of $168.86 per share, in multiple trades between $168.84 and $169.41. Following these transactions, the officer directly beneficially owned 306,600 shares of Vistra common stock. The underlying 2018 employee stock options, which had vested in stages in 2022 and 2023, are now shown with 0 derivative securities remaining.

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^*

HUDSON SCOTT A

(Last) (First) (Middle)

6555 SIERRA DRIVE

(Street)

IRVING TX 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 & President Vistra Retail

3. Date of Earliest Transaction (Month/Day/Year)
11/14/2025

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	11/14/2025		M		56,000	A	$19.68	362,600	D
Common Stock	11/14/2025		S		56,000	D	$168.86(1)	306,600	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
2018 Employee Stock Option (right to buy)	$19.68	11/14/2025		M			56,000	(2)	04/09/2027	Common Stock	56,000	$0	0	D

Explanation of Responses:

1. Represents a weighted-average price. These shares were sold in multiple transactions at prices ranging from $168.84 to $169.41, 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.

2. The 2018 employee stock options vested 50% on April 09, 2022, and the remaining 50% vested on April 09, 2023.

Remarks:

Exhibit 24. Power of Attorney

	/s/ Daniela Gutierrez, as Attorney-in-Fact	11/18/2025
	** 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.

FAQ

What insider transaction did Vistra (VST) report in this Form 4?

The filing reports that a Vistra executive vice president and President of Vistra Retail exercised employee stock options for 56,000 shares and sold 56,000 shares of Vistra common stock on 11/14/2025.

How many Vistra (VST) shares did the insider sell and at what price?

The insider sold 56,000 Vistra common shares at a weighted-average price of $168.86 per share, with individual trades executed between $168.84 and $169.41.

How many Vistra (VST) shares does the reporting person own after the transaction?

After the reported trades, the officer directly beneficially owned 306,600 shares of Vistra common stock.

What were the terms of the Vistra (VST) employee stock options exercised?

The insider exercised 2018 employee stock options to buy 56,000 shares at an exercise price of $19.68 per share. These options vested 50% on April 9, 2022 and the remaining 50% on April 9, 2023, and are now shown with 0 derivative securities remaining.

What does the weighted-average sale price mean in the Vistra (VST) Form 4?

The Form 4 states the $168.86 sale price is a weighted-average. The shares were sold in multiple trades between $168.84 and $169.41, and the reporting person will provide the exact number of shares sold at each price in the range upon request.

Is the Vistra (VST) Form 4 filed by one reporting person or a group?

The Form 4 indicates it is filed by one reporting person, not by more than one reporting person or a group.