Form 4: Chevron Executive R. Hewitt Pate Reports Stock Transactions
SEC Form 4 Filing
R. Hewitt Pate, VP and General Counsel of Chevron, reports the vesting and disposal of restricted stock units and common stock transactions.
Summary
- On January 31, 2025, R. Hewitt Pate, VP and General Counsel of Chevron, reported transactions involving Chevron common stock and restricted stock units.
- Pate acquired 8,158 shares of common stock through the vesting of restricted stock units and disposed of 8,158 shares at a price of $149.19.
- Additionally, Pate acquired 1,975 shares of common stock through the vesting of restricted stock units and disposed of 731 shares.
- Following these transactions, Pate directly owns 1,268 shares of common stock.
- Pate also indirectly owns 8,493 shares through a 401(k) plan and 13,264 shares through a spouse's trust.
- The reported transactions include the vesting of restricted stock units granted on January 25, 2023, under the Chevron Corporation 2022 Long-Term Incentive Plan.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, so the sentiment is neutral.
Future Outlook
One-third of the shares subject to the restricted stock unit award will vest on January 31, 2026, and settle in shares of Chevron common stock on the date of vesting.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their trading activities in the company's stock.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies like Chevron (CVX).
- Similar filings are made by executives at comparable companies such as ExxonMobil (XOM) and Shell (SHEL) when they trade their company's stock.
- The details disclosed, such as the number of shares traded and the prices, are consistent with the level of information required by SEC regulations for insider trading reporting.
Stakeholder Impact
- The filing provides transparency to shareholders regarding insider transactions.
- The transactions themselves may have a negligible impact on the stock price due to the relatively small volume compared to the overall market capitalization of Chevron.
Key Dates
| Date | Description |
|---|---|
| January 25, 2023 | Restricted stock units granted under the Chevron Corporation 2022 Long-Term Incentive Plan |
| January 31, 2024 | One-third of the shares subject to the award vested |
| December 18, 2024 | Start date of acquiring 175 shares of Chevron common stock under the Chevron Employee Savings Investment Plan |
| January 31, 2025 | Date of reported transactions including vesting and disposal of restricted stock units and common stock |
| January 31, 2025 | One-third of the shares subject to the award vested |
| February 04, 2025 | Date of signature by Attorney-in-Fact for R. Hewitt Pate |
| January 31, 2026 | One-third of the shares subject to the award will vest |
Keywords
Chevron, R. Hewitt Pate, Form 4, Stock Transactions, Restricted Stock Units, Common Stock, Insider Trading
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