Form 4: Chevron Controller Reports Routine Equity Transactions

Alana K. Knowles, Chevron's Controller, reported the vesting and settlement of restricted stock units and related common stock transactions.

Summary

• Alana K. Knowles, Controller of Chevron Corp. (CVX), reported transactions involving common stock and restricted stock units (RSUs) on January 31, 2026, pursuant to a Rule 10b5-1(c) plan.
• On January 31, 2026, 2,919 restricted stock units (including 347 dividend equivalents) vested and were settled, resulting in the acquisition of 2,919 shares of common stock at a price of $0.
• Concurrently, 2,919 shares of common stock were disposed of at $176.9 per share, likely for tax or cashless exercise purposes.
• An additional 507 restricted stock units (including 22 dividend equivalents), granted on January 25, 2023, vested on January 31, 2026, and settled in shares of common stock.
• 240 shares of common stock were disposed of at $176.9 per share, likely for tax withholding.
• Following these transactions, Ms. Knowles directly beneficially owns 1,474 shares of common stock and indirectly owns 12,963 shares through a 401(k) plan.
• On February 1, 2026, Ms. Knowles was granted 4,760 new restricted stock units under the Chevron Corporation 2022 Long-Term Incentive Plan, which will vest in three equal installments.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral. It reports routine insider transactions related to equity compensation, which is standard practice and does not indicate any significant positive or negative operational developments for Chevron.

Positives

• The grant of 4,760 new restricted stock units indicates continued long-term incentive alignment between management and shareholders.

Negatives

• Disposal of shares for tax purposes reduces direct beneficial ownership, a common occurrence with RSU vesting.

Future Outlook

The filing indicates future vesting events for newly granted restricted stock units, with one-third of the 4,760 units scheduled to vest on February 1, 2027, February 1, 2028, and February 1, 2029, settling in shares of Chevron common stock.

Industry Context

StockSavvy.ai notes that routine Form 4 filings, such as this one, are standard disclosures for corporate insiders' equity transactions, often related to compensation plans. These transactions typically do not reflect a change in the company's operational performance or strategic direction but rather the mechanics of executive compensation.

Stakeholder Impact

• Shareholders: Minimal direct impact as these are routine insider compensation transactions. The grant of new RSUs aligns management incentives with long-term shareholder value.
• Employees: Reflects standard executive compensation practices, which can be a factor in employee retention and motivation at the executive level.

Next Steps

• One-third of the 4,760 restricted stock units will vest on February 1, 2027.
• One-third of the 4,760 restricted stock units will vest on February 1, 2028.
• One-third of the 4,760 restricted stock units will vest on February 1, 2029.

Key Dates

Keywords

Chevron, CVX, SEC Form 4, Insider Trading, Restricted Stock Units, Equity Compensation, Alana K. Knowles, Controller, Stock Transactions