Venture Global CCO Earl Thomas Sells Over $20 Million in Stock

Lead Venture Global’s Chief Commercial Officer Earl Thomas sold a combined 1.5 million shares of Class A common stock this week, generating proceeds exceeding $20 million in two separate transactions on September 11-12 and September 15, 2025.

Nut Graf The sizeable insider sales come as Venture Global’s market capitalization hovers around $33 billion and follows recent upgrades by major banks, raising questions about Thomas’s motivations and the company’s near-term valuation.

Price Actions and Timing

• On September 11, Thomas sold 840,076 shares at an average price of $13.74, and on September 12, he offloaded 159,924 shares at $13.59, netting $13.7 million.
• On September 15, he sold an additional 500,000 shares at prices ranging near $13.70, yielding $6.85 million.

Options Exercise Thomas concurrently exercised options to acquire nearly 1 million shares at an exercise price of $0.79 per share, totaling a $790,000 outlay, before executing the open-market sales.

Analyst Revisions

• UBS, Deutsche Bank and Goldman Sachs have all upgraded Venture Global to “Buy,” citing strong volume growth at the Plaquemines LNG facility.
• Three analysts recently raised earnings estimates ahead of these insider transactions, bolstering the stock’s appeal despite a heavy debt load.

Market Context Energy sector insiders have shown mixed signals in 2025, with overall U.S. insider selling outpacing buying, while energy companies narrowly favor buys. Venture Global’s insider activity reflects both liquidity management by Thomas and long-term confidence signaled by other executives’ purchases under Rule 10b5-1 plans.