Thayer Jonathan W 4

What Happened

• Jonathan W. Thayer, Chief Financial Officer of Venture Global, exercised vested stock options and sold the resulting shares over two days. On July 20 he exercised 111,111 options at $1.16 (reported cost $128,889) and sold 111,111 shares in the open market for about $1,578,598 (weighted avg). On July 21 he repeated the same: exercised 111,111 options at $1.16 (cost $128,889) and sold 111,111 shares for about $1,564,498 (weighted avg).
• Combined, Thayer sold 222,222 shares for approximately $3,143,096 in gross proceeds and paid roughly $257,778 to exercise the options (net proceeds before taxes/withholdings ≈ $2,885,318).
• The Form 4 also reports derivative disposals at $0.00 for 111,111 shares on each day associated with the exercises (see Key Details below).

Key Details

• Transaction dates and reported prices:
  • 2026-07-20: Exercised 111,111 options @ $1.16 (acquired); sold 111,111 shares @ weighted avg $14.21 (sales ranged $13.65–$14.60) — proceeds ~$1,578,598.
  • 2026-07-21: Exercised 111,111 options @ $1.16 (acquired); sold 111,111 shares @ weighted avg $14.08 (sales ranged $13.89–$14.54) — proceeds ~$1,564,498.
  • The filing also lists two derivative disposals (111,111 shares each) at $0.00 on those dates.
• Shares owned after the transactions: Not specified in the excerpt provided (Form 4 typically shows this; check the full filing for the exact beneficial ownership after the trades).
• Footnotes of note:
  • F1/F2: The sale prices are weighted averages; specific sale prices ranged across the noted ranges and the filer can provide per-price details on request by the SEC.
  • F3: The stock option exercised is fully vested and exercisable.
• Filing timeliness: Report period includes trades on July 20–21 and the Form 4 was filed July 21, 2026 — appears to have been filed promptly.

Context

• This pattern (exercise followed by immediate sale) is common for option exercises that are effectively cashless: the insider exercises options and sells shares to cover exercise costs, taxes, or to realize gains. The presence of $0.00 derivative disposals in the filing likely relates to conversion/withholding mechanics tied to the exercise—review the full Form 4 for exact treatment.
• These are routine insider transactions and do not, by themselves, indicate company performance or insider sentiment beyond the factual execution and sale of option-derived shares.