Kevin J. Mitchell - Sep 8, 2023 Form 4 Insider Report for Phillips 66 (PSX)

Signature
/s/ Jenarae N. Garland, by Power of Attorney
Stock symbol
PSX
Transactions as of
Sep 8, 2023
Transactions value $
-$1,304,472
Form type
4
Date filed
9/11/2023, 06:09 PM
Previous filing
Aug 11, 2023
Next filing
Dec 5, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PSX Common Stock Options Exercise $2.42M +30.8K +29.67% $78.62 135K Sep 8, 2023 Direct F1
transaction PSX Common Stock Sale -$3.73M -30.8K -22.88% $120.97 104K Sep 8, 2023 Direct F1, F2
holding PSX Common Stock 1.3K Sep 8, 2023 COP Savings Plan
holding PSX Common Stock 4.6K Sep 8, 2023 Held by Spouse

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 PSX Employee Stock Option (Right to Buy) Options Exercise $0 -30.8K -100% $0.00* 0 Sep 8, 2023 Common Stock 30.8K $78.62 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Includes 41,657 Restricted Stock Units that settle for shares of Phillips 66 common stock on a 1-for-1 basis.
F2 The price reported above is a weighted average price. These shares were sold in multiple transactions at prices ranging from $120 to $121.895. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
F3 The options became exercisable in three equal annual installments beginning on February 2, 2017.