Form 4: Chevron Director Cynthia J. Warner Reports Phantom Stock Transaction

Director Cynthia J. Warner reported the acquisition of phantom stock under Chevron's Non-Employee Directors' Equity Compensation and Deferral Plan.

Summary

• On August 30, 2024, Cynthia J. Warner, a director of Chevron Corp, acquired 26 shares of phantom stock.
• The phantom stock was issued under the Chevron Non-Employee Directors' Equity Compensation and Deferral Plan.
• These shares become payable in common stock upon the reporting person's termination of service.
• The price of the phantom stock is $147.95.
• Following the transaction, Warner directly owns 213 derivative securities, which includes dividend equivalent accruals.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing detailing a standard compensation practice. It doesn't contain any information that would significantly impact investor sentiment positively or negatively.

Positives

• The acquisition of phantom stock aligns the director's interests with the long-term performance of Chevron.

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 incentivize long-term value creation.
• 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 across companies.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders.
• It reflects ongoing compensation practices for Chevron's directors.

Key Dates