Form 4: Chevron Director Marillyn A. Hewson Reports Acquisition of Phantom Stock

Director Marillyn A. Hewson reports acquiring phantom stock in Chevron under the Non-Employee Directors' Equity Compensation and Deferral Plan.

Summary

• Marillyn A. Hewson, a director of Chevron Corp, filed a Form 4 on March 5, 2025, reporting a transaction that occurred on March 3, 2025.
• The transaction involved the acquisition of 254 shares of phantom stock under the Chevron Non-Employee Directors' Equity Compensation and Deferral Plan.
• The price of the phantom stock was $153.09 per share.
• Following the reported transaction, Hewson beneficially owns 4,661 derivative securities, which includes dividend equivalent accruals of 43 shares.
• The phantom stock is payable in common stock upon the reporting person's termination of service.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it is a routine disclosure of a director's equity compensation. It doesn't indicate any significant positive or negative implications for the company.

Positives

• The acquisition of phantom stock by a director can be seen as a positive sign, indicating confidence in the company's future performance.

Future Outlook

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

Industry Context

This filing is a routine disclosure of a director's equity compensation, which is a common practice in publicly traded companies to align the interests of directors with those of shareholders.

Comparison to Industry Standards

• Director equity compensation is a standard practice across the industry.
• Companies like ExxonMobil (XOM) and Shell (SHEL) also utilize equity-based compensation plans for their directors.
• The specific terms and amounts of these plans vary based on company size, performance, and compensation philosophy.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders.
• It reflects the company's compensation practices for its directors.

Key Dates