[Form 4] Zeo Energy Corporation Insider Trading Activity

Rhea-AI Filing Summary

Zeo Energy Corp. reporting person Kalen Larsen, Chief Operating Officer, disclosed two open-market sales of Class A common stock on 08/27/2025 and 08/28/2025. The Form 4 shows 32,412 shares sold on 08/27 at a weighted-average price of $1.7477 and 28,875 shares sold on 08/28 at a weighted-average price of $1.6197, for a total of 61,287 shares disposed. After these transactions the reporting person may be deemed to beneficially own 2,438,713 shares indirectly through JKae Holdings, LLC, with a disclaimer of direct beneficial ownership over those entity-held shares.

Positive

• None.

Negative

• Officer disposed of 61,287 Class A shares in two open-market transactions on 08/27/2025 and 08/28/2025

Insights

Financial Analyst

TL;DR: Insider sales totaling 61,287 shares were disclosed; holdings remain largely indirect through an entity.

The transactions are routine open-market dispositions by an officer rather than equity grants or option exercises. Prices reported are weighted averages for multiple executions; the filer offers to provide execution-level details on request. The remaining reported position of 2,438,713 shares is held indirectly via JKae Holdings, LLC, which limits clarity about direct control but indicates substantial continued economic exposure.

Corporate Governance Expert

TL;DR: Officer sold a modest number of shares while retaining a large indirect stake; disclosure appears complete.

The Form 4 includes required price-weighting disclosures and an ownership disclaimer tied to an LLC structure. From a governance perspective, the filing meets Section 16 disclosure norms: sales are reported, weighted-average prices are provided, and the filer disclaims beneficial ownership beyond pecuniary interest in the LLC-held shares. No indications of Rule 10b5-1 plan box checked were present.

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).

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^*

Larsen Kalen

(Last) (First) (Middle)

282 RIVER BEND LANE

(Street)

PROVO UT 84604

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Zeo Energy Corp. [ ZEO ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	COO

3. Date of Earliest Transaction (Month/Day/Year)
08/27/2025

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
Class A Common Stock	08/27/2025		S		32,412	D	$1.7477(1)	2,467,588	I	See Footnote(2)
Class A Common Stock	08/28/2025		S		28,875	D	$1.6197(3)	2,438,713	I	See Footnote(2)

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

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price of $1.7477. The Reporting Person undertakes to provide to the registrant, any security holder of the registrant, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range.

2. Comprises shares of Class A Common Stock of the Issuer held of record by JKae Holdings, LLC, for which the reporting person may be deemed to be the beneficial owner of shares held by such entity. The reporting person disclaims beneficial ownership over any such shares expected to be held by such entity, except to the extent of their pecuniary interest therein.

3. The price reported in Column 4 is a weighted average price of $1.6197. The Reporting Person undertakes to provide to the registrant, any security holder of the registrant, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range.

	/s/ Kalen Larsen	08/29/2025
	** 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 did ZEO insider Kalen Larsen sell?

The Form 4 shows 32,412 shares sold on 08/27/2025 at a weighted-average price of $1.7477 and 28,875 shares sold on 08/28/2025 at a weighted-average price of $1.6197.

How many shares does the reporting person beneficially own after these transactions?

The filing states the reporting person may be deemed to beneficially own 2,438,713 shares indirectly through JKae Holdings, LLC.

Were the sales reported as part of a Rule 10b5-1 trading plan?

The Form 4 does not indicate that a 10b5-1 plan box was checked; no contract-plan designation is shown in the provided content.

Are the reported prices single trades or averages?

Each reported price is a weighted-average price; the filer offers to provide details of separate executions on request.

What is the reporting person’s role at ZEO?

The Form 4 identifies the reporting person as an Officer with the title COO and also marks the person as a Director.