Timothy Michael Latimer, Chief Executive Officer and Director of Fervo Energy Co (NASDAQ:FRVO), filed a Form 4 on November 4, 2026, disclosing a November 2, 2026 exchange of 10,000 shares of Class A Common Stock for an equal number of shares of Class B Common Stock at no cash consideration.

Key Highlights

  • Exchange transaction: Latimer disposed of 10,000 shares of Class A Common Stock and acquired 10,000 shares of Class B Common Stock on November 2, 2026, with a price of $0 for both sides of the transaction.
  • No cash involved: According to the filing, "No cash was paid in the exchange."
  • Source of Class A shares: The filing states the 10,000 Class A shares exchanged were originally acquired upon the exercise of a stock option on October 23, 2026.
  • Governing agreement: The exchange was made pursuant to the Equity Award Exchange Right Agreement between Latimer and Fervo Energy Co.
  • Resulting Class B ownership: Following the transaction, the filing reports Latimer beneficially owns 6,307,923 shares of Class B Common Stock directly.
  • Class A balance after transaction: The filing shows 0 shares of Class A Common Stock directly owned following the reported transaction.
  • Conversion feature: According to the filing, Class B Common Stock is convertible at any time, for no additional consideration and subject to certain conditions, into one share of Class A Common Stock.

Latimer's Class A-to-Class B Exchange Under Equity Award Agreement

According to the Form 4 filed with the SEC on November 4, 2026, Timothy Michael Latimer, who serves as Chief Executive Officer and Director of Fervo Energy Co (NASDAQ:FRVO), reported a securities exchange dated November 2, 2026. The transaction involved the disposal of 10,000 shares of Class A Common Stock and the simultaneous acquisition of 10,000 shares of Class B Common Stock. Both the disposition and acquisition were recorded at a price of $0, and the filing confirms no cash changed hands.

The filing explains that the 10,000 Class A shares that were exchanged had themselves been acquired on October 23, 2026, through the exercise of a stock option. The exchange into Class B shares was carried out under the Equity Award Exchange Right Agreement between Latimer and the issuer. The transaction codes recorded are "D" for the disposal of Class A shares and "A" for the acquisition of Class B shares, both under Table I and Table II respectively of the form.

As described in the filing, Class B Common Stock "is convertible at any time, for no additional consideration and subject to the satisfaction of certain conditions, into one share of Class A Common Stock," and "will automatically convert upon certain transfers and other conditions, as set forth in the Issuer's Amended Charter." The filing reports that following this transaction, Latimer directly holds 6,307,923 shares of Class B Common Stock and 0 shares of Class A Common Stock. The form was signed by Gustavo Torres as Attorney-in-Fact on November 4, 2026.

What Was Disclosed

Fervo Energy Co CEO Timothy Michael Latimer filed a Form 4 disclosing a November 2, 2026 exchange of 10,000 Class A Common Stock shares for 10,000 Class B Common Stock shares at no cost, under an Equity Award Exchange Right Agreement, resulting in direct ownership of 6,307,923 Class B shares.