DEFA14A: Chevron to Hold Virtual Annual Meeting in 2025, Outlines Voting Procedures for Stockholders

Chevron Corporation will hold its 2025 Annual Meeting of Stockholders virtually on May 28, 2025, and has provided details on voting procedures and proposals for employee stockholders.

Summary

• Chevron will hold its Annual Meeting of Stockholders virtually on May 28, 2025, at 10:00 a.m. CDT.
• Employee stockholders with a Chevron-issued email will receive voting instructions and links to relevant documents electronically around April 14.
• Those without a Chevron email will receive the information via mail or personal email.
• Stockholders can access the Proxy Statement and Annual Report electronically at www.chevron.com/investors/reports-and-filings.
• Voting can be done online or via telephone using a 16-digit control number.
• The voting deadline for shares held in employee stock or retirement benefit plans is 11:59 p.m. EDT on Thursday, May 22, or as determined by the plan fiduciary.
• The Board of Directors recommends voting FOR the election of director nominees, ratification of PricewaterhouseCoopers LLP, approval of executive officer compensation, and amendments to the Restated Certificate of Incorporation.
• The Board recommends voting AGAINST the stockholder proposals on human rights practices, renewable energy stranded asset risks, and allowing holders of 10 percent of common stock to call special meetings.
• Questions can be submitted in advance at www.proxyvote.com or live during the meeting at www.virtualshareholdermeeting.com/CVX2025.
• A summary of unanswered questions will be posted on www.chevron.com/investors/corporate-governance.

Sentiment

Score: 7

Explanation: The document is informative and procedural, outlining the details of the upcoming annual meeting. The tone is neutral and professional, focusing on facilitating stockholder participation.

Positives

• The virtual meeting format enhances accessibility for all stockholders.
• Electronic delivery of proxy materials saves natural resources and reduces costs.
• Confidential voting process ensures stockholder privacy.
• Stockholders have multiple avenues to vote and participate in the meeting.

Future Outlook

The document outlines the procedures for the upcoming 2025 Annual Meeting, focusing on stockholder participation and voting on key proposals.

Management Comments

• The Board believes this meeting format will enhance and facilitate attendance by providing convenient access for all of our stockholders.
• We have planned and designed the meeting to encourage stockholder participation, protect stockholder rights, and promote transparency.

Industry Context

The move to a virtual annual meeting aligns with a broader trend in corporate governance to enhance accessibility and reduce costs. Many companies are adopting virtual or hybrid formats to engage with stockholders more efficiently.

Comparison to Industry Standards

• Holding virtual annual meetings is becoming increasingly common among large corporations, including companies like ExxonMobil and Shell, to improve accessibility and reduce costs.
• The use of a 16-digit control number for voting is a standard security measure employed by many companies to ensure the integrity of the voting process.
• Chevron's approach to providing electronic access to proxy materials and annual reports is consistent with industry best practices for environmental sustainability and cost efficiency.

Stakeholder Impact

• Shareholders are provided with information and means to vote on important company matters.
• Employees who are stockholders are given specific instructions for voting their shares.
• The company aims to reduce costs and environmental impact through electronic delivery of materials.

Next Steps

• Employee stockholders should look for the proxy voting email around April 14.
• Stockholders should review the Proxy Statement and Annual Report.
• Stockholders should vote their shares by the deadline of May 22, 2025.
• Stockholders can participate in the Annual Meeting on May 28, 2025.

Key Dates

Keywords

Annual Meeting, Proxy Statement, Stockholders, Voting, Chevron, Employee Stockholders, Virtual Meeting, Board of Directors, Proposals, PricewaterhouseCoopers