Form 4: Phillips 66 Director Julie L. Bushman Reports Acquisition of Restricted Stock Units

Director Julie L. Bushman acquired 1,684 restricted stock units of Phillips 66 on January 15, 2025, as part of an annual grant.

Summary

• Julie L. Bushman, a director at Phillips 66, reported the acquisition of 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 will 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 stock price on the transaction date.
• Following this transaction, Ms. Bushman beneficially owns 12,921.3879 shares of Phillips 66, including 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 indicates continued alignment of interests between management and shareholders.
• The annual grant of RSUs is a standard practice for non-employee directors, suggesting a stable compensation structure.

Industry Context

This is a routine filing related to director compensation and is typical for publicly traded companies. It does not indicate any unusual activity or deviation from standard practices.

Comparison to Industry Standards

• The granting of restricted stock units to non-employee directors is a common practice among publicly traded companies, including those in the energy sector like ExxonMobil (XOM) and Chevron (CVX).
• These grants are typically part of a broader compensation package designed to align the interests of directors with those of shareholders.
• The value of the grant is determined by the stock price on the grant date, which is consistent with industry standards.
• The reporting of these transactions via SEC Form 4 is a standard regulatory requirement.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders by aligning director interests with company performance.

Key Dates

Keywords

Phillips 66, Director, Restricted Stock Units, RSUs, Beneficial Ownership, SEC Form 4, Equity Compensation