Earl Thomas 4

What Happened
Earl Thomas, Chief Commercial Officer of Venture Global (VG), exercised 1,000,000 options on 2026-05-27 by paying $0.79 per share (total cost $790,000) and then sold 1,000,000 common shares in the open market at a weighted average price of $12.44 per share (gross proceeds $12,444,000). The Form 4 also records the conversion/disposition of 1,000,000 derivative securities at $0.00, which reflects that the exercised options were removed after conversion.

Key Details

• Transaction date: 2026-05-27 (reported on Form 4 filed 2026-05-28 — filed the next day).
• Exercise: 1,000,000 shares acquired at $0.79 per share; total exercise cost $790,000. (F2: option fully vested and exercisable.)
• Sale: 1,000,000 shares sold in multiple open-market trades at a weighted average price of $12.44; gross proceeds $12,444,000. (F1: sale prices ranged from $12.30 to $12.65; issuer/staff may request per-price breakdown.)
• Derivative entry: 1,000,000 derivative securities reported as disposed at $0.00 — reflects cancellation/conversion of the exercised options.
• Shares owned after transaction: Not disclosed in the provided filing.
• Filing timeliness: Reported the next calendar day (not marked late).

Context
Because the options were exercised and the shares were sold the same day, this is effectively a cashless exercise — the sale likely supplied the cash to cover the exercise cost and any taxes. The filing is factual and routine: exercises followed immediately by open-market sales are common for fully vested options and do not, by themselves, indicate management’s longer-term view.