Form 4: Phillips 66 Director Boosts Stake with RSU Grant

Phillips 66 Director Michael A. Heim acquired 1,423 shares of common stock through an annual Restricted Stock Unit grant on January 15, 2026, increasing his beneficial ownership to 13,484.5124 shares.

Summary

• Michael A. Heim, a Director of Phillips 66 (PSX), acquired 1,423 shares of common stock.
• The acquisition occurred on January 15, 2026, at a price of $140.56 per share.
• This transaction was an annual grant of Restricted Stock Units (RSUs) to non-employee directors, converting to common stock on a 1-for-1 basis.
• Following this transaction, Michael A. Heim beneficially owns 13,484.5124 shares of Phillips 66 common stock.
• The reported beneficial ownership includes 2,484.5124 RSUs and shares acquired through routine dividend transactions, which are exempt under Rule 16a-11.
• The transaction was made pursuant to a Rule 10b5-1(c) plan.

Sentiment

Score: 6

Explanation: The filing reports a routine, expected annual RSU grant to a director, which slightly increases insider ownership. This is generally viewed as neutral to mildly positive, as it aligns director interests with shareholders, but does not indicate a significant new investment decision by the director.

Positives

• A Director is increasing their beneficial ownership in the company, which can be viewed as a sign of confidence.
• The transaction was part of a pre-arranged Rule 10b5-1(c) plan, indicating a structured approach to compensation and ownership.

Negatives

• No specific negatives are identified in this routine insider transaction report.

Risks

• No specific risks are mentioned in this Form 4 filing.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This routine insider transaction reflects a standard compensation practice for non-employee directors in publicly traded companies, where equity grants like RSUs are common for aligning director interests with shareholders. It does not provide specific insights into broader industry trends or competitive landscape.

Comparison to Industry Standards

• The grant of Restricted Stock Units (RSUs) to non-employee directors is a common practice across various industries, including the energy sector, for executive and director compensation.
• The use of a Rule 10b5-1(c) plan for such transactions is also standard practice, providing an affirmative defense against insider trading allegations by pre-scheduling trades.
• The size of the grant (1,423 shares) and the resulting beneficial ownership (13,484.5124 shares) are within typical ranges for non-executive directors at large-cap companies like Phillips 66, though specific comparisons would require detailed peer group analysis.

Related Party Transactions

• The acquisition of 1,423 shares of common stock by Director Michael A. Heim through an RSU grant is a related party transaction, as it involves a company insider.

Stakeholder Impact

• Shareholders may view the increase in director ownership, even through a routine grant, as a positive signal of alignment between management/board and shareholder interests.
• Employees are not directly impacted by this specific insider transaction.

Next Steps

• No specific future actions, events, or milestones are mentioned in this Form 4 filing beyond the reported transaction.

Key Dates

Keywords

Phillips 66, PSX, Form 4, Insider Transaction, Director, Restricted Stock Units, RSU, Stock Grant, Beneficial Ownership, Corporate Governance