Form 4: Chevron Vice Chairman Mark Nelson Reports Stock Transactions
SEC Form 4 Filing
Mark Nelson, Vice Chairman of Chevron, reports the vesting and disposal of restricted stock units and acquisition of shares through a 401(k) plan.
Summary
- On January 31, 2025, Mark Nelson, Vice Chairman of Chevron, reported transactions involving Chevron common stock.
- Nelson vested 10,933 restricted stock units, receiving Chevron common stock.
- He also vested 2,537 restricted stock units granted under the 2022 Long-Term Incentive Plan.
- Additionally, Nelson disposed of 10,933 shares of common stock at a price of $149.19.
- He also disposed of 1,182 shares to cover tax obligations.
- Between December 18, 2024, and January 31, 2025, Nelson acquired 19 shares of Chevron common stock through the Chevron Employee Savings Investment Plan (401(k)).
- Following these transactions, Nelson directly owns 2,256 shares and indirectly owns 18,012 shares through the 401(k) plan and 3,611 shares directly.
Sentiment
Score: 5
Explanation: The document is a neutral report of stock transactions, with no inherent positive or negative sentiment.
Future Outlook
One-third of the shares subject to the 2022 Long-Term Incentive Plan award will vest on January 31, 2026, and settle in shares of Chevron common stock on the date of vesting.
Industry Context
This filing is a routine disclosure of stock transactions by a company insider, as required by the SEC. It provides transparency into the trading activities of key personnel at Chevron.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies like Chevron, and similar filings are made by executives at comparable companies such as ExxonMobil (XOM), Shell (SHEL), and BP (BP).
- The vesting schedules and terms of restricted stock units are generally aligned with industry norms for executive compensation.
- The 401(k) plan participation is a common benefit offered by large corporations.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership of shares.
- The vesting of restricted stock units is part of the executive compensation plan, impacting the executive and potentially other employees.
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 2022 Long-Term Incentive Plan award vested. |
| 2024-12-18 | Start date for the period during which the reporting person acquired 19 shares of Chevron common stock under the Chevron Employee Savings Investment Plan, a 401(k) plan. |
| 2025-01-31 | Date of the reported transactions, including vesting of restricted stock units and disposal of shares. One-third of the shares subject to the 2022 Long-Term Incentive Plan award vested. Restricted stock units are payable in cash and vested. |
| 2026-01-31 | One-third of the shares subject to the 2022 Long-Term Incentive Plan award will vest. |
| 2025-02-04 | Date of signature of the report. |
Keywords
Chevron, Mark Nelson, stock, restricted stock units, Form 4, insider trading, CVX, vesting, 401(k)
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