Blue Gold CEO Andrew Cavaghan Receives Significant Equity Awards

This Form 4 filing reports that Andrew Cavaghan, CEO and Director of Blue Gold Ltd (BGL), received substantial equity awards on April 2, 2026. Cavaghan was granted 157,500 fully vested Class A ordinary shares under the company's 2025 Equity Incentive Plan. Additionally, he received 890,000 restricted shares that vest daily over four years (2026-2029) and 1.4 million performance-based restricted shares tied to stock price milestones of $15 and $35 per share. The filing also details Cavaghan's extensive indirect ownership through various corporate entities, including Pegasus Capital Limited (2,631,965 shares), Pegasus Capital Holdings Limited (6,780 shares), and Blue Gold Holdings Limited (350,000 shares), plus 1,738 shares held by his spouse. In total, Cavaghan has direct ownership of 995,484 shares and indirect beneficial ownership of approximately 2.99 million additional shares through corporate entities.