U.S. LNG Export Executives Sell Shares Immediately After Exercising Stock Options

Between May 14 and 19, three key executives at U.S. LNG exporter Venture Global, Inc. (VG)—the General Counsel, the Senior Vice President of Development, and the Chief Financial Officer—exercised large stock-option grants and immediately sold all of the acquired common shares on the open market.

General Counsel Keith D. Larson exercised roughly 1.11 million shares on May 14–15 and sold them in full, realizing about $15 million (approximately KRW 200 billion). According to the company’s SEC filing, he now holds zero Class A common shares.

Senior Vice President of Development Musser Fory exercised 2 million shares on May 14, selling them all for about $26.17 million (around KRW 350 billion). CFO Jonathan W. Thayer sold several hundred thousand shares acquired through option exercises on May 18–19, converting them into approximately $3.5 million (about KRW 5 billion) in cash. He retains his equity exposure solely through unexercised options, with no direct holdings remaining.

In each case, the executives exercised options and sold all resulting shares on the same or next trading day. The filings make clear that they did not sell any previously held shares.

Separately, as of the March 16 record date, the board approved a quarterly cash dividend payable on March 31. In February and March, the company also expanded its supply portfolio by signing a 20-year LNG supply agreement with Hanwha Aerospace and medium- to long-term sales contracts with Trafigura and Vitol.

Venture Global operates large-scale LNG export terminals at Calcasieu Pass and Plaquemines, Louisiana, exporting LNG to Europe and Asia under long-term supply agreements. Since its NYSE listing in 2025, the company has announced plans to expand its long-term supply agreements and invest in its CP2 LNG project to boost future production capacity.