4/A: Phillips 66 Director Amends Form 4 Filing to Correctly Report Stock Ownership After Phillips 66 Partners Merger
SEC Filing
A Phillips 66 director amended a previous SEC filing to correct an error regarding the acquisition of shares following the merger with Phillips 66 Partners LP.
Summary
- Gary Kramer Adams, a director of Phillips 66, filed an amended Form 4 with the SEC.
- The amendment corrects an error in the original Form 4 filed on March 11, 2022.
- The original filing incorrectly stated that Adams acquired 709 shares of Phillips 66 common stock due to the conversion of Phillips 66 Partners LP units in connection with the merger effective March 9, 2022.
- Adams did not directly hold any Phillips 66 Partners LP units and therefore did not acquire any Phillips 66 shares in connection with the merger.
- As of March 20, 2024, Adams directly owns 18,721 shares of Phillips 66 common stock.
Sentiment
Score: 7
Explanation: The document is a routine regulatory filing correcting a previous error. It doesn't indicate any positive or negative sentiment about the company's performance, but rather ensures accurate reporting.
Industry Context
This filing relates to insider stock ownership and is a routine part of corporate governance, particularly following a merger. It ensures transparency regarding the holdings of company insiders.
Stakeholder Impact
- The correction of the filing ensures that shareholders and potential investors have accurate information regarding insider ownership of Phillips 66 stock.
Key Dates
| Date | Description |
|---|---|
| 10/26/2021 | Agreement and Plan of Merger dated October 26, 2021 |
| 03/09/2022 | Date of earliest transaction related to the merger. |
| 03/11/2022 | Date of original Form 4 filing that contained an error. |
| 03/20/2024 | Date of amended Form 4 filing and date reflecting the total amount of securities beneficially owned by the Reporting Person. |
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