Form 4: Chevron Executive Andrew Nigel Hearne Reports Stock Transactions
SEC Form 4 Filing
EVP and Senior Advisor Andrew Nigel Hearne reports the vesting and disposal of Chevron stock and restricted stock units on January 31, 2025.
Summary
- Andrew Nigel Hearne, an EVP and Senior Advisor at Chevron, filed a Form 4 detailing changes in beneficial ownership of Chevron stock.
- On January 31, 2025, Hearne vested 8,179 restricted stock units (RSUs) which converted into common stock.
- Hearne also vested 2,537 restricted stock units (RSUs) granted on January 25, 2023, under the Chevron Corporation 2022 Long-Term Incentive Plan.
- Hearne disposed of 8,179 shares of common stock at a price of $149.19.
- Hearne also disposed of 1,199 shares of common stock for tax purposes at a price of $149.19.
- Following these transactions, Hearne directly owns 2,794 shares of Chevron common stock.
- Hearne also indirectly owns 1,368 shares through a 401(k) plan and 1,274 shares through the Hearne Family Trust.
Sentiment
Score: 5
Explanation: This is a routine filing related to executive compensation, so the sentiment is neutral.
Future Outlook
The remaining restricted stock units granted on January 25, 2023, will vest on January 31, 2026.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into insider transactions, which are closely monitored by investors.
Comparison to Industry Standards
- Executive compensation packages including restricted stock units are common practice among large corporations like Chevron, ExxonMobil, and Shell.
- The vesting schedules and holding periods are typical components designed to align executive interests with long-term shareholder value.
- The reported transactions are similar to those seen across the industry, reflecting standard practices for equity-based compensation.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders as they are part of standard executive compensation practices.
Key Dates
| Date | Description |
|---|---|
| 01/25/2023 | Restricted stock units granted under the Chevron Corporation 2022 Long-Term Incentive Plan. |
| 01/31/2024 | One-third of the shares subject to the award vested. |
| 01/31/2025 | Date of the reported transactions: vesting of RSUs and disposal of shares. One-third of the shares subject to the award vested. |
| 01/31/2026 | One-third of the shares subject to the award will vest. |
| 02/04/2025 | Date of the Form 4 filing. |
Keywords
Chevron, Hearne, stock, restricted stock units, Form 4, beneficial ownership, transactions, vesting, disposal
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