[SCHEDULE 13G/A] Vast Renewables Limited SEC Filing

Rhea-AI Filing Summary

Schedule 13G/A (Amendment No. 3) – Vast Renewables Ltd (VSTE)

Individual investor Thomas John Corley has disclosed a passive ownership position in Vast Renewables Ltd as of 30 June 2025. He beneficially owns 4,655,014 ordinary shares, consisting of 3,522,559 issued shares and 1,132,455 shares underlying warrants. With 29,973,504 ordinary shares outstanding (per the company’s 6-K dated 28 Feb 2025), the holding represents 15.5 % of the outstanding equity.

• Sole voting & dispositive power: 4,655,014 shares
• Shared power: 0 shares
• Filing basis: Rule 13d-1(c) – passive investment; the filer certifies no intent to influence control
• Reporting person: U.S. citizen, address 132 Washington Place, State College, PA
• Event date: 30 Jun 2025; Signature date: 1 Jul 2025

The filing elevates Corley to insider-level transparency (>5 % holder), offering investors visibility into a significant stakeholder’s exposure. No group memberships, subsidiary holdings, or control ambitions are indicated.

Insights

Securities Analyst

TL;DR: Passive investor now holds 15.5 % of VSTE; informative but not thesis-altering.

The disclosure confirms that Thomas John Corley controls nearly one-sixth of Vast Renewables’ equity through a mix of common shares and warrants. Because the stake is filed on Schedule 13G, the investor renounces activist or control intentions, framing the position as financial rather than strategic. While concentrated ownership can tighten the float and improve alignment with minority investors, there is no immediate operational or financial impact. For valuation, the filing serves primarily as transparency rather than a catalyst. I view the information as neutral to the investment thesis.

Corporate Governance Specialist

TL;DR: 15.5 % holding triggers governance considerations but filer disavows control intent.

From a governance angle, a single individual crossing the 10 % threshold increases monitoring requirements and may influence future proxy dynamics, even when filed passively. However, Corley’s certification under Rule 13d-1(c) lowers the probability of activism. The absence of group activity or shared voting rights limits immediate governance risk. Overall, this is an informational event rather than a material governance shift.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

Vast Renewables Ltd

(Name of Issuer)

Ordinary Shares, without par value

(Title of Class of Securities)

Q9379E105

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. Q9379E105

1

Names of Reporting Persons

Corley Thomas John

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

PENNSYLVANIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 4,655,014.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 4,655,014.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,655,014.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

15.5 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: Beneficial ownership consists of 3,522,559 Ordinary Shares as well as 1,132,455 Ordinary Shares underlying warrants. Percentage of class is based on 29,973,504 Ordinary Shares outstanding as of December 31, 2024, as reported in Exhibit 99.3 to the Current Report on Form 6-K (File No. 001-41891) filed with the SEC on February 28, 2025.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Vast Renewables Ltd
(b)	Address of issuer's principal executive offices: SUITE 7.02, 124 WALKER STREET, SUITE 7.02, 124 WALKER STREET, NORTH SYDNEY NSW, AUSTRALIA, 2060.
Item 2.
(a)	Name of person filing: Thomas Corley
(b)	Address or principal business office or, if none, residence: 132 Washington Place State College, PA 16801
(c)	Citizenship: United States
(d)	Title of class of securities: Ordinary Shares, without par value
(e)	CUSIP No.: Q9379E105
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 4655014
(b)	Percent of class: 15.5 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 4655014
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 4655014
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Corley Thomas John

Signature:	Thomas Corley
Name/Title:	Individual
Date:	07/01/2025

FAQ

Who filed the latest Schedule 13G/A for VSTE?

The filing was made by Thomas John Corley, an individual U.S. investor.

How many Vast Renewables shares does Thomas Corley beneficially own?

He reports ownership of 4,655,014 ordinary shares, including warrants.

What percentage of Vast Renewables’ outstanding shares does this represent?

The position equals 15.5 % of the company’s ordinary shares.

Does the filing indicate any intention to influence control of VSTE?

No. The certification under Rule 13d-1(c) states the securities were not acquired to change or influence control.

What is the composition of Corley’s VSTE holding?

It consists of 3,522,559 shares plus 1,132,455 shares issuable upon warrant exercise.

When was the event requiring the filing and the signature date?

Event date: 30 June 2025; signature date: 1 July 2025.