Form 4: Chevron Controller Exercises, Sells Stock Under 10b5-1 Plan
Insider Transaction Report
Chevron's Controller, Alana K. Knowles, exercised stock options and subsequently sold shares under a pre-arranged 10b5-1 trading plan.
Summary
- Alana K. Knowles, Controller at Chevron Corp (CVX), executed transactions on January 14, 2026, involving the exercise of stock options and the sale of common stock.
- Knowles exercised 3,200 non-qualified stock options at a price of $132.69 per share.
- Concurrently, 3,200 shares of Chevron common stock were sold at a price of $168 per share.
- These transactions were conducted pursuant to a Rule 10b5-1 trading plan, which was adopted by the reporting person on February 21, 2025.
- Following these transactions, Knowles directly holds 1,207 shares of common stock and indirectly holds 12,944 shares through a 401(k) plan.
- An additional 20 shares of Chevron common stock were acquired by the reporting person under the Chevron Employee Savings Investment Plan (401(k) plan) between January 6, 2026, and January 14, 2026.
- Knowles retains 6,400 unexercised non-qualified stock options, which have an expiration date of January 26, 2032.
Sentiment
Score: 5
Explanation: The filing reports a routine insider transaction (exercise and sale of stock options) conducted under a pre-established 10b5-1 plan. This type of filing is generally neutral in sentiment as it reflects personal financial planning rather than a direct signal about the company's immediate prospects or strategic direction.
Positives
- The reporting person realized a profit by exercising options at $132.69 and selling the corresponding shares at a higher price of $168.
- The transactions were executed under a pre-established Rule 10b5-1 trading plan, indicating a structured and compliant approach to insider stock management.
Future Outlook
NA
Industry Context
This Form 4 filing details a routine insider transaction for an executive at a major integrated energy company. Such transactions, especially when conducted under a Rule 10b5-1 plan, are common practice for corporate executives to manage their equity compensation and personal finances, and typically do not reflect specific market or industry sentiment.
Stakeholder Impact
- Shareholders: This is a routine insider transaction and is unlikely to have a significant direct impact on shareholders. It demonstrates an executive monetizing vested equity compensation as part of personal financial planning.
- Employees: The acquisition of shares through the 401(k) plan highlights ongoing employee participation in the company's savings and investment plans.
Key Dates
| Date | Description |
|---|---|
| 01/26/2022 | Non-Qualified Stock Option granted. |
| 01/31/2023 | One-third of the shares subject to the option vested. |
| 01/31/2024 | Second third of the shares subject to the option vested. |
| 01/31/2025 | Final third of the shares subject to the option vested. |
| 02/21/2025 | Rule 10b5-1 trading plan adopted by the reporting person. |
| 01/06/2026 | Start date of period during which 20 shares were acquired under the 401(k) plan. |
| 01/14/2026 | Transaction date for option exercise and common stock sale; End date of period for 401(k) share acquisition. |
| 01/15/2026 | Date of filing of the Statement of Changes in Beneficial Ownership (Form 4). |
| 01/26/2032 | Expiration date of the non-qualified stock option. |
Keywords
Chevron, CVX, Insider Trading, Stock Options, 10b5-1 Plan, Controller, Equity Sales
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