Form 4: Chevron Executive Alana K. Knowles Reports Stock Transactions
SEC Form 4 Filing
Alana K. Knowles, VP and Controller of Chevron, reports the vesting and disposal of restricted stock units and common stock transactions.
Summary
- Alana K. Knowles, VP and Controller of Chevron, filed a Form 4 detailing changes in beneficial ownership.
- On January 31, 2025, Knowles vested 2,386 restricted stock units (RSUs) which converted into common stock.
- Knowles also vested 441 restricted stock units granted on January 25, 2023, under the Chevron Corporation 2022 Long-Term Incentive Plan.
- She disposed of 2,386 shares of common stock at a price of $149.19.
- Following these transactions, Knowles directly owns 285 shares of common stock and indirectly owns 12,333 shares through a 401(k) plan.
- The filing also notes that between December 18, 2024, and January 31, 2025, Knowles acquired 39 shares of Chevron common stock under the Chevron Employee Savings Investment Plan.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions, so the sentiment is neutral.
Future Outlook
One-third of the shares subject to the award will vest on January 31, 2026, and settle in shares of Chevron common stock on the date of vesting.
Industry Context
Executive stock transactions are routinely monitored by investors as they can provide insights into management's perspective on the company's valuation and future prospects. Form 4 filings are a standard part of regulatory compliance for publicly traded companies.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units that vest over time, aligning executive interests with long-term shareholder value.
- Companies like ExxonMobil (XOM) and Shell (SHEL) also utilize similar equity-based compensation plans for their executives.
- The vesting schedules and terms of these plans are typically disclosed in proxy statements and other SEC filings.
Stakeholder Impact
- The transactions reported in the Form 4 filing may have a minor impact on shareholders due to the change in ownership by a company executive.
- The vesting of restricted stock units is part of the executive compensation plan, which is of interest to shareholders.
Key Dates
| Date | Description |
|---|---|
| 2023-01-25 | Restricted stock units granted under the Chevron Corporation 2022 Long-Term Incentive Plan. |
| 2024-01-31 | One-third of the shares subject to the award vested. |
| 2024-12-18 | Start date of acquiring 39 shares of Chevron common stock under the Chevron Employee Savings Investment Plan. |
| 2025-01-31 | Date of earliest transaction, vesting of restricted stock units, and disposal of common stock. |
| 2025-01-31 | One-third of the shares subject to the award vested. |
| 2026-01-31 | One-third of the shares subject to the award will vest. |
| 2025-02-04 | Date of Form 4 filing. |
Keywords
Form 4, Chevron, Stock, Ownership, Transactions, Executive
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