Form 4: Phillips 66 Director Acquires Shares Through Annual RSU Grant

Director Denise L. Ramos acquired 1,684 shares of Phillips 66 common stock through an annual grant of Restricted Stock Units (RSUs).

Summary

• Director Denise L. Ramos acquired 1,684 shares of Phillips 66 common stock on January 15, 2025.
• The acquisition was part of an annual grant of Restricted Stock Units (RSUs) to non-employee directors.
• The RSUs convert to common stock on a 1-for-1 basis.
• The price per share was $118.7769, which is the average of the high and low price of the company's stock on that day.
• Following the transaction, Ms. Ramos beneficially owns 22,835.1754 shares of Phillips 66 stock, all of which are RSUs.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed as a neutral to slightly positive event. It indicates alignment of interests between directors and shareholders.

Positives

• The acquisition of shares by a director demonstrates confidence in the company's future.
• The annual grant of RSUs aligns the interests of non-employee directors with those of shareholders.

Industry Context

This is a routine transaction related to director compensation and is common practice for publicly traded companies.

Comparison to Industry Standards

• The granting of RSUs to non-employee directors is a standard practice among publicly traded companies, including those in the energy sector like ExxonMobil (XOM) and Chevron (CVX).
• These grants are typically part of a compensation package designed to align the interests of directors with those of shareholders.
• The number of shares granted and the vesting schedule can vary, but the general practice is consistent across the industry.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns director interests with company performance.

Key Dates

Keywords

Phillips 66, Director, RSU, Stock Acquisition, Beneficial Ownership, PSX, Restricted Stock Units