Form 4: Hess Director Kevin Meyers Reports Share Conversion Post-Chevron Merger

Hess Corp. Director Kevin Meyers reported the disposition of 38,597 shares of Hess common stock, converting them into Chevron shares as part of the merger agreement dated October 22, 2023.

Summary

• Kevin Meyers, a Director of Hess Corp., reported a change in beneficial ownership of Hess common stock.
• On July 18, 2025, Meyers disposed of 38,597 shares of Hess Common Stock, $1.00 par value.
• Following this transaction, Meyers beneficially owns 0 shares of Hess Common Stock directly.
• The disposition was executed pursuant to the Agreement and Plan of Merger dated October 22, 2023, between Hess, Yankee Merger Sub Inc., and Chevron Corporation.
• At the effective time of the merger, each outstanding share of Hess common stock was converted into the right to receive 1.025 shares of common stock of Chevron Corporation.

Sentiment

Score: 5

Explanation: Neutral. The document is a routine SEC Form 4 filing reporting a change in beneficial ownership due to a merger, which is an expected corporate action. It does not convey positive or negative sentiment regarding the company's operational performance or future prospects.

Future Outlook

NA

Industry Context

This transaction reflects the ongoing consolidation trend within the energy sector, specifically the acquisition of Hess by Chevron, a major oil and gas company. Such mergers significantly reshape the competitive landscape and asset portfolios of the involved entities and the broader industry.

Comparison to Industry Standards

• This share conversion process is a standard procedure following a corporate merger, consistent with typical acquisition agreements in the energy sector.
• Similar share exchange ratios and conversion mechanisms have been observed in other large-scale energy mergers, such as the ExxonMobil-Pioneer Natural Resources acquisition or the Occidental Petroleum-Anadarko Petroleum merger, where target company shares are converted into acquirer shares at a predefined ratio.

Stakeholder Impact

• Shareholders: Hess shareholders, including the reporting person, had their shares converted into Chevron shares, impacting their future investment in the combined entity.

Key Dates

Keywords

Hess Corp, HES, Chevron Corporation, Merger, SEC Form 4, Beneficial Ownership, Director, Stock Conversion, Corporate Action