Form 4: Phillips 66 Director Acquires Additional Shares Through RSU Conversion

Director Gregory Hayes increased his holdings in Phillips 66 through the acquisition of Restricted Stock Units (RSUs) in lieu of a cash retainer.

Summary

• On April 1, 2024, Gregory Hayes, a director of Phillips 66, acquired 70 shares of common stock.
• The acquisition was through the conversion of Restricted Stock Units (RSUs) in lieu of his annual cash retainer.
• The price per share was $162.41, based on the average of the high and low price of Phillips 66 stock on that day.
• Following the transaction, Hayes beneficially owns 17,408.537 shares, including 7,158.537 RSUs.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. A director increasing their stake in the company is generally viewed favorably, indicating confidence in the company's prospects. However, the transaction is relatively small and part of a standard compensation package.

Positives

• Director's decision to take equity instead of cash shows confidence in the company's future.

Industry Context

Directors often receive equity compensation as part of their overall package, aligning their interests with those of shareholders. This transaction reflects a common practice in corporate governance.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders.
• It signals director alignment with shareholder interests.

Key Dates