Jonathan W Thayer, serving as Chief Financial Officer for Venture Global (VG), has completed a substantial divestment of company shares, according to a Form 4 filing. Over the course of June 17 and June 18, 2026, Thayer sold a combined total of $2,441,042 in Class A Common Stock. The transactions were executed at weighted average prices ranging from $10.9175 to $11.0519 per share. This activity occurs as Venture Global's stock trades at $11.03, reflecting a decline of approximately 13% over the preceding week, despite an 82% gain over the past six months. Market analysis suggests the stock may be undervalued relative to its fair value, positioning it among opportunities identified in recent valuation assessments.
On June 17, Thayer sold 111,111 shares at a weighted average price of $11.0519. These shares were liquidated through multiple transactions, with individual prices spanning from $10.82 to $11.19. The total value of this initial sale was approximately $1,227,978. The following day, June 18, Thayer sold an additional 111,111 shares at a weighted average price of $10.9175. These shares were also sold in multiple transactions, with prices ranging from $10.59 to $11.07. This second transaction amounted to approximately $1,212,987.
Prior to these sales, Thayer acquired the 222,222 shares by exercising stock options. On both June 17 and June 18, he acquired 111,111 shares each day at an exercise price of $1.16 per share, totaling $257,777 for the acquisitions. The stock options were fully vested and exercisable. Following these transactions, Thayer's direct ownership of Class A Common Stock from these specific transactions was 0 shares. His holdings of derivative securities decreased by a total of 222,222 options as a result of these exercises, with his remaining options totaling 18,712,768 after the June 18 transaction.
Venture Global has recently announced significant operational and financial developments. The company entered into binding agreements with EnBW for the purchase of approximately 0.82 million tonnes per annum of U.S. liquefied natural gas, set to commence in 2026. This deal supplements existing agreements for 2 million tonnes per annum over 20 years. Additionally, Venture Global closed a $2.25 billion notes offering, which includes $1.125 billion of 6.375% senior secured notes due in 2034 and $1.125 billion of 6.625% senior secured notes due in 2036. This debt offering is intended to refinance existing debt.
Analysts have provided mixed perspectives on Venture Global's trajectory. Bernstein initiated coverage with a market perform rating, citing rapid growth in cargoes and export volumes. Conversely, JPMorgan upgraded the stock from Neutral to Overweight, noting shifts in the LNG market due to geopolitical tensions and infrastructure delays in the Middle East. These developments reflect the company's strategic positioning in the evolving LNG market landscape.