Larson Keith D 4

What Happened

• Keith D. Larson, General Counsel and Secretary of Venture Global, exercised stock options and immediately sold the resulting shares. On 2026-03-18 he exercised 1,793,862 options (strike $0.79) and sold those shares in the open market for a weighted average price of $15.02 (proceeds ≈ $26.94M). On 2026-03-19 he exercised 3,206,138 options (strike $0.79) and sold them at a weighted average price of $15.55 (proceeds ≈ $49.85M).
• Combined, Larson acquired 5,000,000 shares by exercise for total strike cost of $3.95M and disposed of those 5,000,000 shares for aggregate proceeds of about $76.79M. The filing also shows a 500,000‑share grant on 2026-03-18.

Key Details

• Transaction dates: 2026-03-18 and 2026-03-19; filing date: 2026-03-19 (appears timely).
• Exercise strike: $0.79 per share; total cost to exercise ≈ $3.95M.
• Sale prices (weighted averages): $15.02 (3/18; range $15.00–$15.09 per F1) and $15.55 (3/19; range $15.30–$15.80 per F2). Total sale proceeds ≈ $76.79M.
• Grant noted: 500,000 shares granted 3/18 (footnote F3 indicates this option vests quarterly over 16 quarters). Footnote F4 indicates another option is fully vested and exercisable.
• Shares owned after these transactions are not specified in the summarized data provided.
• Several derivative entries report $0.00 amounts reflecting option conversions/exercise mechanics rather than additional cash transfers.

Context

• This is an exercise-and-sell (cashless) sequence: Larson exercised options (derivative M code) and sold the shares in the open market the same day(s). Such transactions convert option value into cash and are common for executives; they do not by themselves indicate a change in company outlook.
• The 500,000‑share award appears to be a time‑vesting option (per F3) and is separate from the exercised, fully vested options (per F4).