Form 4: Chevron Director Charles W. Moorman Reports Acquisition of Phantom Stock

Director Charles W. Moorman reports acquiring phantom stock in Chevron under the Non-Employee Directors' Equity Compensation and Deferral Plan.

Summary

• On August 30, 2024, Charles W. Moorman, a director of Chevron Corp, acquired 306 shares of phantom stock.
• The phantom stock was issued under the Chevron Non-Employee Directors' Equity Compensation and Deferral Plan.
• These shares are payable in common stock upon termination of service.
• The price of the phantom stock is $147.95.
• Following the transaction, Moorman directly owns 17,351 derivative securities, which includes 173 dividend equivalent accruals.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing, reporting a standard transaction related to director compensation. It doesn't inherently convey positive or negative sentiment.

Future Outlook

The phantom stock will be payable in common stock upon the reporting person's termination of service.

Industry Context

This filing is a routine disclosure related to director compensation and equity ownership, common in publicly traded companies like Chevron.

Comparison to Industry Standards

• Director compensation packages often include equity-based awards like phantom stock to align director interests with shareholder value.
• Companies like ExxonMobil (XOM) and Shell (SHEL) also utilize similar equity compensation plans for their directors.
• The specifics of these plans, such as vesting schedules and payout terms, can vary widely across companies.

Stakeholder Impact

• The transaction reflects ongoing director compensation arrangements, which can influence shareholder perceptions of alignment between management and ownership.

Key Dates