Moldovan Kristopher E. 4

What Happened
Kristopher E. Moldovan, Executive Vice President and Chief Financial Officer of Vistra Corp. (VST), received a grant/vesting of 136,888 shares on Feb 24, 2026 (reported on a Form 4 filed Feb 26, 2026) valued at $171.62 per share for a total gross value of $23,492,719 (transaction code A). To satisfy tax withholding, the issuer withheld 53,018 shares (disposed; $9,098,949) and 7,346 shares (disposed; $1,260,721) (transaction code F), leaving a net delivery of 76,524 shares (~$13.13M). These transactions reflect awards/vesting and issuer withholding rather than open-market sales.

Key Details

• Transaction date: 2026-02-24; Form 4 filed 2026-02-26 (appears timely; within the usual two-business-day window).
• Grant (A): 136,888 shares @ $171.62 = $23,492,719.
• Withholding (F): 53,018 shares @ $171.62 = $9,098,949 (F2 — withholding for performance-based RSUs); 7,346 shares @ $171.62 = $1,260,721 (F3 — withholding for RSUs).
• Net shares delivered to Moldovan: 76,524 shares (136,888 − 60,364) ≈ $13,133,049.
• Shares owned after the transaction: Not reported in the filing.
• Footnotes: F1 notes the performance criteria for the three-year period ended Dec 31, 2025 were certified by the Compensation Committee on Feb 18, 2026; F2/F3 explain the share withholdings were issuer tax withholdings and not voluntary market sales.
• Exhibit noted: Exhibit 24 (Power of Attorney) included.

Context
This was an award/vesting of performance-based and time-based restricted stock units that were certified by the board committee and then settled. The withheld shares represent routine employer tax withholding (a cashless-like settlement) rather than a deliberate insider sale. For retail investors, awards signal company compensation outcomes rather than direct insider buying conviction; purchases by insiders are typically more informative about personal bullishness.