Form 4: Phillips 66 Director Acquires Shares Through Stock Units
SEC Form 4 Filing
Director Gregory Hayes acquired 124 shares of Phillips 66 common stock through the receipt of Restricted Stock Units (RSUs) in lieu of a cash retainer.
Summary
- On May 1, 2025, Gregory Hayes, a director of Phillips 66, acquired 124 shares of common stock.
- The acquisition was through the receipt of Restricted Stock Units (RSUs) in lieu of his annual cash retainer.
- The price per share was $104.53, which is the average of the high and low price of Phillips 66 stock on that day.
- Following the transaction, Hayes beneficially owns 20,636.0979 shares, including 10,386.0979 RSUs that settle for shares of Phillips 66 common stock on a 1-for-1 basis.
Sentiment
Score: 6
Explanation: The sentiment is neutral as it reports a routine transaction. The director receiving RSUs in lieu of cash could be seen as slightly positive, indicating confidence in the company.
Positives
- The director's decision to take RSUs instead of cash may signal confidence in the company's future performance.
Industry Context
Directors receiving stock-based compensation is a common practice in publicly traded companies to align their interests with those of shareholders.
Comparison to Industry Standards
- Stock ownership and equity-based compensation for directors are standard practices across the energy sector, including companies like ExxonMobil (XOM) and Chevron (CVX).
- The specific amount of RSUs granted to directors varies based on company size, performance, and compensation policies.
- Comparing the total equity holdings of Phillips 66 directors to those of its peers can provide insights into the alignment of management's interests with shareholders.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders.
- It reinforces the alignment of the director's interests with those of shareholders through equity ownership.
Key Dates
| Date | Description |
|---|---|
| 05/01/2025 | Date of transaction: Gregory Hayes acquired 124 shares of Phillips 66 common stock. |
| 05/05/2025 | Date of signature: Maine Goodfellow, Attorney-in-Fact, signed the Form 4 on behalf of Gregory Hayes. |
Keywords
Phillips 66, Director, Gregory Hayes, Stock Acquisition, Restricted Stock Units, RSUs, Form 4, Beneficial Ownership
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