Thayer Jonathan W 4

What Happened
Jonathan W. Thayer, Chief Financial Officer of Venture Global (VG), exercised a total of 3,222,223 option-derived shares (paid ~$3.74M at $1.16/share) on March 18–19, 2026 and then sold those same shares in open-market transactions for aggregate gross proceeds of about $50.56M. The filing also reports a 500,000-share award/derivative grant on March 18, 2026 (reported at $0.00). The pattern — exercise followed by immediate sale — is a cash-out of vested option holdings rather than a market buy signal.

Key Details

• Transaction dates: March 18–19, 2026; Form 4 filed March 19, 2026 (appears timely).
• Options exercised (paid): 3,222,223 shares at $1.16 each; total exercise cost ≈ $3,737,779.
• Shares sold (open market): 3,222,223 shares for total proceeds ≈ $50,559,163. Estimated net proceeds ≈ $46,821,384 (proceeds minus exercise cost).
• Reported sale prices are weighted averages across multiple trades; footnotes give price ranges for each block (roughly $12.99–$16.80 per share across the transactions).
• A 500,000-share derivative award was reported on 3/18 (footnotes indicate a multi-quarter vesting schedule for awards/options).
• Several derivative line items show $0.00 proceeds — these reflect internal reporting of option conversions/exercise steps, not additional sales.

Context

• This is a typical "exercise-and-sell" (cashless) transaction: the CFO converted options into shares and sold them promptly, realizing cash. Such transactions monetize compensation and are common with vested options; they are informational but do not by themselves indicate the insider’s view of the company’s long-term prospects.
• Footnotes disclose that sale prices shown are weighted averages across multiple trades and that some option terms were adjusted for a prior stock split.