Michael K. Wirth - 14 Nov 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
Issuer symbol
CVX
Transactions as of
14 Nov 2024
Transactions value $
-$9,286,172
Form type
4
Filing time
18 Nov 2024, 17:35:19 UTC
Previous filing
08 Feb 2024
Next filing
19 Dec 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CVX Common Stock Options Exercise $17,070,666 +164,600 +38.46% $103.71 168,880 14 Nov 2024 Direct F1, F2
transaction CVX Common Stock Sale -$26,356,838 -164,600 -97.47% $160.13 4,280 14 Nov 2024 Direct F1, F3
holding CVX Common Stock 17,688 14 Nov 2024 by 401(k) plan F4
holding CVX Common Stock 17,784 14 Nov 2024 by Limited Partnership F5

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) Options Exercise $0 -164,600 -100% $0 0 14 Nov 2024 Common Stock 164,600 $103.71 Direct F6
* 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 The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 22, 2023.
F2 This number includes the acquisition of stock resulting from the reinvestment of dividends on vested stock units (138) issued under the Chevron Corporation 2022 Long-Term Incentive Plan.
F3 This transaction was executed in multiple trades at prices ranging from $160.00 to $160.37. The price reported above reflects the weighted-average sale price. 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 sold at each separate price within the range provided.
F4 Between February 1, 2024 and September 14, 2024, the reporting person acquired 571 shares of Chevron Common Stock under the Chevron Employee Savings Investment Plan, a 401(k) plan.
F5 The reporting person owns only a 1% general partnership interest in the limited partnership. The remaining limited partnership interests are owned equally by four separate trusts for the benefit of each of the reporting person's children. The reporting person disclaims beneficial ownership of the shares held by the limited partnership except to the extent of his pecuniary interest therein.
F6 Option granted 1/28/2015. One-third of the shares subject to the option vested on each of the first, second and third anniversaries of the date of grant.