Form 4: Chevron Director Sells $59M in Shares Under 10b5-1 Plan

Chevron Director John B. Hess sold 375,000 shares of common stock for approximately $59.36 million under a pre-arranged 10b5-1 trading plan.

Summary

• John B. Hess, a Director of Chevron Corp (CVX), sold 375,000 shares of common stock.
• The transaction occurred on August 22, 2025.
• The shares were sold at a weighted-average price of $158.3028 per share, totaling approximately $59,363,550.
• The sale was executed pursuant to a Rule 10b5-1(c) trading plan.
• Following the transaction, Mr. Hess directly owns 278,539 shares and indirectly owns 9,067,910 shares through various trusts, partnerships, LLCs, and a 401(k) plan.

Sentiment

Score: 5

Explanation: A routine insider sale under a pre-arranged 10b5-1 plan is generally considered neutral, as it is not indicative of new material information.

Positives

• The transaction was executed under a Rule 10b5-1(c) plan, indicating a pre-scheduled sale not based on immediate insider information.

Negatives

• A director selling a significant number of shares could be perceived negatively by some investors, although it was pre-planned.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: The sale by a director might be viewed with slight caution, but the 10b5-1 plan mitigates concerns about opportunistic selling.

Key Dates

Recommendation

The filing reports a pre-scheduled insider sale by a director, which is a routine event under a 10b5-1 plan and does not provide new material information to warrant a change in investment recommendation based solely on this transaction. Investors should consider broader company fundamentals and market conditions.

Keywords

Chevron, CVX, John B. Hess, Insider Sale, Form 4, Director Transaction, Stock Sale, 10b5-1 Plan, Energy Sector