Blake Sarah 4

What Happened

• Sarah Blake, Senior Vice President and Chief Accounting Officer of Venture Global (VG), exercised stock options and immediately sold the resulting shares. Between March 5 and March 9, 2026 she exercised a total of 330,700 shares (exercise price $1.55 per share) for a cash cost of $512,585 and sold all 330,700 shares in open-market transactions for aggregate gross proceeds of about $3,952,786. Net proceeds before fees and taxes were roughly $3.44M.

Key Details

• Transaction dates and prices:
  • 2026-03-05: exercised 300,000 shares (two exercises of 150,000) at $1.55; sold those 300,000 for weighted prices reported as $11.57 (150,000 shares; range $11.43–$11.74) and $12.12 / $12.51 (147,100 and 2,900 shares; range $11.50–$12.49 and $12.50–$12.57) — see footnotes F1–F3.
  • 2026-03-09: exercised 30,700 shares at $1.55; sold 30,700 at a weighted $13.00 (range $13.00–$13.02) — footnote F4.
• Total sold: 330,700 shares; total proceeds ≈ $3.95M; total exercise cost ≈ $512.6K.
• Shares owned after transaction: not specified in the summary data provided (see the Form 4 for post-transaction holdings).
• Notable footnotes: sales prices are weighted averages across multiple transactions (F1–F4). The related stock options were adjusted for a prior stock split (F5, F7) and at least one option is fully vested and exercisable (F6).
• Filing timeliness: trades occurred 2026-03-05 and the Form 4 was filed 2026-03-09. Form 4s are normally due within two business days; this filing appears to have been submitted after that window.

Context

• This pattern — exercising vested options and promptly selling the shares — is a common cashless exercise/sell-to-cover strategy used by insiders to realize value from equity awards. The filing shows option exercise entries (derivative code M) followed by open-market sales (S). There is no indication in the filing of a 10b5-1 plan or that these were gifts; treat this as routine insider monetization rather than an explicit signal of company direction. For full details (exact per-trade prices, post-trade holdings, and filing timing), consult the SEC Form 4 (Accession 0001720952-26-000002).