Gustavo Torres Jr., Chief Legal Officer of Fervo Energy Co., filed a Form 4 on October 28, 2026, disclosing the exercise of 15,000 stock options on October 26, 2026, converting them into Class A Common Stock.

Key Highlights

  • Reporting person: Gustavo Torres Jr., Chief Legal Officer of Fervo Energy Co. (NASDAQ:FRVO)
  • Transaction: Exercise (code M) of 15,000 stock options on October 26, 2026, acquiring 15,000 shares of Class A Common Stock at $1.37 per share
  • Post-transaction direct ownership: 155,764 shares of Class A Common Stock held directly
  • Remaining derivative securities: 154,297 stock options beneficially owned following the transaction, held directly
  • Option expiration date: May 13, 2034, with an exercise price of $1.37
  • Vesting schedule: 25% of the underlying shares vested on May 1, 2025, with the remainder vesting in 36 equal monthly installments thereafter

Torres Converts Stock Options to Class A Shares in October 2026 Transaction

According to the Form 4 filed with the SEC on October 28, 2026, Gustavo Torres Jr., serving as Chief Legal Officer of Fervo Energy Co. (NASDAQ:FRVO), reported an option exercise transaction dated October 26, 2026. The filing shows Torres acquired 15,000 shares of Class A Common Stock through an M-coded transaction, which represents the exercise of a stock option, at a price of $1.37 per share.

The filing discloses that following this transaction, Torres directly holds 155,764 shares of Class A Common Stock. On the derivative securities side, the stock option that was partially exercised carries an exercise price of $1.37 and an expiration date of May 13, 2034. The price of the derivative security in connection with the exercise is reported as $0. After the transaction, Torres retains direct beneficial ownership of 154,297 stock options.

As explained in the filing's footnote, the option vested as to 25% of the underlying shares on May 1, 2025, and "vests in 36 equal monthly installments thereafter." The Form 4 was signed by Pilar Hastings-Smith as attorney-in-fact on October 28, 2026, and the filing indicates it was made by one reporting person. No 10b5-1 plan box was checked in connection with this transaction.

What Was Disclosed

The filing reports that Fervo Energy Co.'s Chief Legal Officer, Gustavo Torres Jr., exercised 15,000 stock options on October 26, 2026, at $1.37 per share, resulting in direct ownership of 155,764 Class A Common shares and 154,297 remaining options.