SEGAL SUSAN 4

What Happened
Susan Segal, a director of Vista Energy (VIST), had 6,000 restricted stock units (RSUs) convert into 6,000 Series A shares on April 9, 2026 (Form 4 transaction code M — exercise/conversion of a derivative). On the same date, 6,000 shares were recorded as disposed at a $0.00 price, consistent with shares being withheld or surrendered (no cash proceeds) — commonly done to cover taxes or other withholding obligations. The acquisition entry shows N/A for price/value and the disposal shows $0.00, so there was no net cash sale.

Key Details

• Transaction date: April 9, 2026; Form 4 filed April 13, 2026.
• Action: Exercise/conversion of RSUs (code M); 6,000 shares acquired and 6,000 shares disposed at $0.00.
• Price/value: Acquisition entry listed as N/A; disposal price $0.00 (no proceeds).
• Shares owned after transaction (per filing footnote): 112,983 Series A shares held directly and 66,000 Series A shares represented by 66,000 ADSs (each ADS = 1 Series A share).
• Footnotes: F1 — each RSU vests into one Series A share or cash; F2 — shows current direct holdings and ADS-held shares.
• Filing timeliness: filed April 13 for an April 9 transaction (check Form 4 for any timeliness code in the filing).

Context
This appears to be a routine RSU vesting event with shares withheld/surrendered (no-market-sale) to satisfy withholding obligations — not an open-market sale or purchase. Such internal conversions and withholdings are common and do not necessarily indicate a change in confidence or sentiment.