Larson Keith D 4

What Happened
Keith D. Larson, General Counsel and Secretary of Venture Global, Inc. (VG), exercised stock options and immediately sold the resulting shares in two same‑day transactions. On 2026-06-15 he exercised 555,556 options at $0.79 (cost $438,889) and sold the 555,556 shares at a weighted average price of $11.90 for proceeds of $6,613,450. On 2026-06-16 he exercised 555,555 options at $0.79 (cost $438,888) and sold the 555,555 shares at a weighted average price of $11.27 for proceeds of $6,261,716. Total shares sold = 1,111,111; total reported sale proceeds ≈ $12.88M; total exercise cost ≈ $877,777.

Key Details

• Transaction types: M = option exercises (fully vested per filing), followed by S = open market sales (same‑day sale/cashless exercise pattern).
• Dates/prices: 6/15 exercise @ $0.79 (555,556); 6/15 sale WAP $11.90 (range $11.66–$12.27); 6/16 exercise @ $0.79 (555,555); 6/16 sale WAP $11.27 (range $10.89–$11.69).
• Reported sale proceeds: $6,613,450 (6/15) + $6,261,716 (6/16) ≈ $12,875,166. Reported exercise costs: $438,889 + $438,888 = $877,777.
• The filing notes the options were fully vested (Footnote F3). Footnotes F1 and F2 explain the reported sale prices are weighted averages across multiple trades; the filer will provide per‑trade breakdowns to the SEC on request.
• Shares owned after the transactions are not specified in the provided excerpt — see the full Form 4 for updated beneficial ownership.
• Filing date 2026-06-16 appears timely relative to the reportable transactions (no late filing indicated).

Context

• This is a common pattern where an insider exercises vested options and sells the acquired shares immediately (cashless/same‑day disposition). Such transactions realize option value but do not necessarily indicate a change in the insider’s view on the company.
• The options exercised were fully vested, per the filing; the zero-dollar derivative disposals reflect cancellation/transfer of the exercised option instruments.