Form 4: Phillips 66 CEO Mark Lashier Reports Stock Disposal for Tax Obligations
SEC Form 4 Filing
Phillips 66 CEO Mark Lashier disposed of 5,416 shares of common stock to cover tax obligations related to vesting Restricted Stock Units (RSUs).
Summary
- On February 8, 2025, Mark Lashier, Chairman and CEO of Phillips 66, disposed of 5,416 shares of Phillips 66 common stock.
- The disposal was to satisfy tax withholding obligations related to the vesting of Restricted Stock Units (RSUs) granted on February 8, 2022.
- The shares were disposed of at a price of $120.7775, which is the average of the high and low price of the company's stock on February 7, 2025.
- Following the transaction, Lashier beneficially owns 93,384 shares of Phillips 66 common stock, including 61,048 RSUs that will settle for shares on a 1-for-1 basis.
Sentiment
Score: 5
Explanation: This is a routine transaction related to tax obligations, so it's neutral in sentiment.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into insider transactions. This transaction is a standard practice of disposing of shares to cover tax obligations upon the vesting of RSUs.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine disposal of shares for tax purposes.
Key Dates
| Date | Description |
|---|---|
| 02/08/2022 | Date of grant for the Restricted Stock Units (RSUs) that vested. |
| 02/07/2025 | Date used to calculate the average stock price for the tax withholding. |
| 02/08/2025 | Date of the stock disposal transaction. |
| 02/11/2025 | Date of signature for the Form 4 filing. |
Keywords
Phillips 66, Mark Lashier, PSX, Form 4, Stock Disposal, RSUs, Tax Withholding, Beneficial Ownership, Securities
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