Michael K. Wirth - Feb 6, 2024 Form 4 Insider Report for CHEVRON CORP (CVX)

Role
Chairman and CEO, Director
Signature
/s/ Rose Z. Pierson, Attorney-in-Fact for Michael K. Wirth
Stock symbol
CVX
Transactions as of
Feb 6, 2024
Transactions value $
$0
Form type
4
Date filed
2/8/2024, 07:58 PM
Previous filing
Feb 2, 2024

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction CVX Non-Qualified Stock Option (Right to Buy) Award $0 +115K $0.00 115K Feb 6, 2024 Common Stock 115K $152.35 Direct F1
transaction CVX Restricted Stock Units Award $0 +28.7K $0.00 28.7K Feb 6, 2024 Common Stock 28.7K $0.00 Direct F2
holding CVX Restricted Stock Units 16.4K Feb 6, 2024 Common Stock 16.4K $0.00 Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 One-third of the shares subject to the option vest on February 10, 2025, February 10, 2026 and February 10, 2027, respectively.
F2 Restricted stock units granted under the Chevron Corporation 2022 Long-Term Incentive Plan. Each restricted stock unit is the economic equivalent of one share of Chevron Corporation common stock. Restricted stock units accrue dividend equivalents in the form of additional restricted stock units. One-third of the shares subject to this award vest on February 10, 2025, February 10, 2026 and February 10, 2027, respectively, and will settle in shares of Chevron common stock on the date of vesting. Shares issued upon vesting are subject to a two-year post-vesting holding period, which is removed upon termination of employment.
F3 The reporting person previously reported the grant of 23,730 restricted stock units in Table I of a Form 4 filed on January 27, 2023. The initial award provided that one-third of the restricted stock units would vest on each of January 31, 2024, January 31, 2025 and January 31, 2026. The vesting of one-third of the award, together with 310 additional restricted stock units accrued as dividend equivalents, was reported on a Form 4 filed on February 2, 2024. The remaining restricted stock units, including 621 dividend equivalents, are now being reported in Table II. Shares issued upon vesting are subject to a two-year post-vesting holding period, which is removed upon termination of employment.
F4 Each restricted stock unit is the economic equivalent of one share of Chevron Corporation common stock.