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

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

Summary

• Director Gregory Hayes 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 stock on that day.
• Following the transaction, Mr. Hayes beneficially owns 20,098.2121 shares, including 9,848.2121 RSUs.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally to slightly positive as it aligns director interests with shareholders.

Positives

• The acquisition of shares by a director demonstrates confidence in the company.
• The annual grant of RSUs is a standard practice for non-employee directors.

Industry Context

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

Comparison to Industry Standards

• The use of Restricted Stock Units (RSUs) as part of director compensation is a common practice among publicly traded companies, including those in the energy sector like ExxonMobil (XOM) and Chevron (CVX).
• These companies also typically grant RSUs annually to their non-employee directors.
• The vesting schedules and conversion rates of these RSUs are generally similar across the industry, with a 1-for-1 conversion to common stock being standard.

Stakeholder Impact

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

Key Dates

Keywords

Phillips 66, Director, Gregory Hayes, Restricted Stock Units, RSU, Share Acquisition, Form 4, Beneficial Ownership