Episode 4 of Ponies unfolds with a tense and intriguing beginning as Bea and Twila are approached by Vera, Dane's contact. She drops a bombshell of information, revealing that the facility's location has been moved, and they'll be provided with the new location shortly.

Twila and Bea then catch up with Dane, where they swiftly discover a note left by her in Bea's pocket. The note contains a cryptic picture for Twila to decipher, which includes symbols used for communication. The gist of it is that there's some sort of code linked to meeting a contact called Caterpillar.
Vera also knows Chris and Tom, so it's highly likely that she could actually know something about the plane crash. This revelation incentivizes both women to work with her.
Meanwhile, Andrei shows up at Sasha's apartment, drunk and clearly mistaken it for Bea's. Sasha is forced to think quickly and comes up with a plan to ward him off. She pretends to be his girlfriend and claims they fight a lot about her infidelity, which seems to work. However, just before he leaves, Andrei threatens Sasha, adding an extra layer of tension to the situation.
That night, Bea meets with Sasha and he relays what's happened. Bea knows they need to tighten their cover, so they work together to concoct a fake story about how they met and fell in love.
Dane is concerned that Bea is getting too close to "Radford" (the code-name Sasha gave himself a few episodes ago) and that could be problematic. However, he's also quick to point out that Andrei is extremely dangerous and she needs to be careful.
Twila meets with Vera, who's asking for $100,000 from the US government for The Butcher and a passport for her to leave the country by tomorrow night. In exchange, she'll provide details for the facility's whereabouts. The episode ends with a sense of urgency and anticipation as the characters race against time to uncover the truth.
Outside of work, Sasha's day takes a turn for the worse when he's beaten down and robbed after stealing an item from his co-worker's desk. Despite the brutal encounter, he emerges unscathed, except for the guilt that weighs heavily on his conscience. He approaches Bea that afternoon, uncertain whether to walk away or confront the person he believes to be Andrei's enforcer. Bea, who knows about his sister's plight, urges him to keep fighting for her. In a desperate attempt to protect himself from horrific torture and to avoid giving away anything that could incriminate the Americans, Sasha asks for a cyanide pill.
Together, Bea and Twila hatch a plan to steal a painting from Alan's office and give it to Vera, who will then liaise with The Butcher - another symbol from the picture. In return, they hope to obtain the pill Sasha desires and the information they're so desperately seeking.
After successfully stealing the painting, Bea paints a replica of the expensive art piece in Alan's office. She laments the imperfections in her work, but both she and Twila are hopeful it'll pass muster without arousing Alan's suspicion.
Finally, they enact the trade-off with Vera and The Butcher, who reveals that Chris and Tom were on the plane with her but it didn't crash. Instead, they managed to land the plane 10km from their location, but once they stepped out, they were both shot dead. Apparently, Tom was a mole and fed information to the Soviets, leading to their execution.
The scene is filled with tension and uncertainty as Sasha grapples with his guilt and fear while Bea and Twila navigate their own motivations and desires. The stakes are high as they race against time to complete their mission and obtain the prize they seek.
For further insights, Vera seeks additional information from the girls. When Twila urges her for more, Vera slips from the railing and falls into the river below, resulting in her untimely demise. In a state of panic, Twila rushes to the office accompanied by Bea, revealing the tragic incident. However, Tom's shock deepens when he discovers that Vera's fake passport is still in her possession, prompting him to demand swift action to retrieve it. The duo complies, only for Bea to later meet with Sasha and hand over the cyanide pill, along with further instructions should the need arise. Despite not revealing her real name, Bea opens up slightly, mentioning her husband's passing.
That evening, Alan escorts Bea to his office and explains that he's facing marital issues, opting to stay there for the time being. Bea exhales in relief, initially believing it was about the painting. Dane swiftly learns of Vera's death and decides to call off the mission. Yet, Twila is not ready to let go, suggesting they use Bea to pose as Vera. Dane dismisses the idea, but Bea has another plan: perhaps they could utilize her grandmother's help instead.