Form 4: Phillips 66 Director Gary Adams Acquires Shares Through Annual Grant

Director Gary Adams acquired 1,684 shares of Phillips 66 common stock through an annual grant of restricted stock units.

Summary

• Gary Adams, a director at Phillips 66, acquired 1,684 shares of common stock on January 15, 2025.
• The acquisition was part of an annual grant of restricted stock units to non-employee directors.
• These restricted stock units 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, Mr. Adams directly owns 20,405 shares and indirectly owns 690 shares through a family trust.

Sentiment

Score: 7

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

Positives

• The acquisition of shares by a director demonstrates confidence in the company's future.
• The annual grant of restricted stock units aligns director interests with shareholder interests.

Industry Context

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

Comparison to Industry Standards

• The practice of granting restricted stock units to non-employee directors is a common compensation method among publicly traded companies.
• The specific number of shares and the valuation method are consistent with standard practices for director compensation.

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, Gary Adams, Stock Acquisition, Restricted Stock Units, Form 4, Insider Trading