Form 4: Phillips 66 Director Glenn F. Tilton Acquires Restricted Stock Units

Director Glenn F. Tilton acquired 1,684 restricted stock units of Phillips 66 on January 15, 2025, as part of an annual grant.

Summary

• Glenn F. Tilton, a director at Phillips 66, acquired 1,684 restricted stock units (RSUs) on January 15, 2025.
• These RSUs were granted as part of the annual compensation for non-employee directors.
• The RSUs convert to Phillips 66 common stock on a 1-for-1 basis.
• The price used to calculate the value of the RSUs was $118.7769, which is the average of the high and low price of the company's stock on that day.
• Following this transaction, Mr. Tilton beneficially owns 71,618.2512 shares, including 36,266.2512 RSUs and shares acquired through routine dividend transactions.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is a neutral event. The sentiment is slightly positive due to the alignment of interests between directors and shareholders.

Positives

• The acquisition of RSUs by a director demonstrates alignment of interests with shareholders.
• The annual grant of RSUs is a standard practice for compensating non-employee directors.

Industry Context

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

Comparison to Industry Standards

• The granting of restricted stock units to non-employee directors is a common practice among publicly traded companies as part of their compensation packages.
• Companies like Exxon Mobil (XOM) and Chevron (CVX) also use similar equity-based compensation for their directors.
• The specific number of RSUs granted and their value are determined by the company's compensation policies and the stock price on the grant date, which is consistent with industry standards.

Stakeholder Impact

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

Key Dates

Keywords

Phillips 66, Director, Restricted Stock Units, RSU, Stock Grant, Form 4, Beneficial Ownership, Equity Compensation