ZEO Form 4: Kalen Larsen Disposes 440 Class A Shares for $1.60

Rhea-AI Filing Summary

Zeo Energy Corp. insider sale disclosed on Form 4: Kalen Larsen, Chief Operating Officer, reported a sale of 440 shares of the issuer's Class A common stock on 08/29/2025 at a weighted average price of $1.60 per share. After the reported sale, the filing shows the reporting person may be deemed to beneficially own 2,438,273 shares through JKae Holdings, LLC, held indirectly; the reporting person disclaims direct beneficial ownership of those entity-held shares. The Form 4 is signed by Kalen Larsen on 09/03/2025 and includes a note that the $1.60 price is a weighted average and that full pricing details are available on request.

Positive

• Transaction disclosed promptly and signed: Form 4 includes signature dated 09/03/2025, satisfying filing formalities
• Weighted average price transparency: Filing states $1.60 weighted average and offers per-lot details on request
• Indirect ownership clearly identified: Shares held by JKae Holdings, LLC are disclosed with a disclaimer

Negative

• Insider sale reported: COO sold 440 Class A shares, which may attract investor attention despite small size

Insights

Securities Analyst

TL;DR: A small, routine insider sale was reported; ownership remains concentrated through an associated entity.

The Form 4 records a disposition of 440 Class A shares at a weighted average of $1.60, which is immaterial relative to the 2.44 million shares reported as beneficially owned indirectly. The filing provides appropriate disclosure of the weighted average price and invites requests for per-lot pricing, meeting SEC transparency expectations. From a trading-impact perspective, this transaction alone is unlikely to move the market given the modest size.

Corporate Governance Expert

TL;DR: Disclosure follows Section 16 requirements; indirect ownership via an entity is properly noted.

The report identifies the reporting person as COO and lists indirect ownership through JKae Holdings, LLC, with a disclaimer of direct beneficial ownership for entity-held shares. The filing is signed and includes the required explanatory footnotes about weighted average pricing and beneficial ownership. Procedurally, the Form 4 appears complete and compliant based on the provided content.

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
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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^*

Larsen Kalen

(Last) (First) (Middle)

7625 LITTLE ROAD, STE 200A

(Street)

NEW PORT RICHEY FL 34654

(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)
08/29/2025

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	08/29/2025		S		440	D	$1.6(1)	2,438,273	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 $1.6000. 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.

	/s/ Kalen Larsen	09/03/2025
	** 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 transaction did Zeo Energy (ZEO) reporting person Kalen Larsen disclose on Form 4?

The filing reports a sale of 440 Class A common shares on 08/29/2025 at a weighted average price of $1.60 per share.

How many shares does the reporting person beneficially own after the transaction?

The filing states the reporting person may be deemed to beneficially own 2,438,273 shares indirectly through JKae Holdings, LLC.

What is the reporting person's role at Zeo Energy?

The Form 4 lists the reporting person as an Officer (COO) and also marks Director/10% Owner boxes as applicable where indicated.

When was the Form 4 signed by the reporting person?

The Form 4 is signed by Kalen Larsen on 09/03/2025.

Does the filing provide per-lot pricing details for the sale?

The filing states the $1.60 is a weighted average price and offers to provide full per-lot pricing information upon request.