Form 4: Vistra CEO Exercises Options, Sells Shares Under 10b5-1 Plan

Vistra Corp.'s President and CEO, James A. Burke, executed pre-planned transactions involving the exercise of stock options and subsequent sale of common stock.

Summary

• James A. Burke, President and CEO of Vistra Corp. (VST), reported transactions on September 16 and 17, 2025.
• Transactions were conducted under a Rule 10b5-1 trading plan adopted on June 12, 2025.
• On September 16, 2025, Burke acquired 19,200 shares at $14.03 and 4,800 shares at $19.68 through option exercises.
• On September 16, 2025, Burke disposed of 21,358 shares of common stock at a weighted-average price of $213.78.
• The disposition on September 16 included 1,709 shares for cashless exercise and 8,775 shares to cover taxes.
• On September 17, 2025, Burke acquired 19,200 shares at $14.03 and 4,800 shares at $19.68 through option exercises.
• On September 17, 2025, Burke disposed of 21,361 shares of common stock at a weighted-average price of $212.56.
• The disposition on September 17 included 1,720 shares for cashless exercise and 8,771 shares to cover taxes.
• Following these transactions, Burke's direct beneficial ownership of common stock is 227,968 shares.
• Indirect beneficial ownership includes 701,514 shares via JAMEB, LP, 34,000 shares via the James A. Burke 2012 Irrevocable Trust, and 259 shares via the Marti E. Burke 2012 Irrevocable Trust.

Sentiment

Score: 5

Explanation: The sentiment is neutral. This is a routine insider transaction report (Form 4) detailing the exercise of stock options and subsequent sale of shares under a pre-arranged 10b5-1 plan. It does not contain information that would typically be interpreted as positive or negative for the company's operational or financial performance.

Positives

• The transactions were executed pursuant to a Rule 10b5-1 trading plan, indicating pre-planned activity and reducing concerns about opportunistic insider trading.
• The exercise of employee stock options demonstrates the executive's realization of value from long-term incentive compensation.

Negatives

• The net effect of the transactions was a reduction in direct beneficial ownership of common stock, as shares sold exceeded shares acquired through option exercise, which could be interpreted as an executive reducing exposure.

Future Outlook

This filing does not contain forward-looking statements or guidance regarding the company's future performance or strategic direction; it solely reports past insider transactions.

Industry Context

This Form 4 filing is a routine disclosure of insider transactions and does not provide information directly related to broader industry trends or competitive positioning. Such filings are common across all publicly traded companies as executives manage their equity compensation.

Corporate Governance

Related Party Transactions

• Indirect beneficial ownership of 701,514 shares through JAMEB, LP, a limited partnership jointly owned by the reporting person and his spouse.
• Indirect beneficial ownership of 34,000 shares through the James A. Burke 2012 Irrevocable Trust.
• Indirect beneficial ownership of 259 shares through the Marti E. Burke 2012 Irrevocable Trust.

Stakeholder Impact

• Shareholders: Provides transparency regarding executive stock ownership and trading activities, which can influence investor confidence.
• Employees: No direct impact on employees, but executive compensation practices are generally of interest.

Key Dates

Keywords

Vistra Corp, VST, Insider Trading, Form 4, Stock Options, Executive Compensation, Rule 10b5-1, Share Sale, Beneficial Ownership