Form 4: Phillips 66 Director Lashier Sells Shares to Cover Tax Obligations
SEC Form 4
Mark E. Lashier, a director and the President and CEO of Phillips 66, disposed of 6,626 shares of common stock on April 1, 2024, to cover tax obligations related to vesting Restricted Stock Units.
Summary
- On April 1, 2024, Mark E. Lashier, a Director and the President and CEO of Phillips 66, disposed of 6,626 shares of Phillips 66 common stock.
- The transaction was executed to satisfy tax withholding obligations associated with the vesting of Restricted Stock Units (RSUs) granted on April 1, 2021.
- The shares were disposed of at a price of $162.41, which represents the average of the high and low price of Phillips 66 stock on that day.
- Following the transaction, Lashier still beneficially owns 98,001 shares, which includes 78,235 RSUs that will settle for shares of Phillips 66 common stock on a 1-for-1 basis.
Sentiment
Score: 5
Explanation: The document describes a routine transaction (selling shares to cover taxes on vested RSUs) and doesn't indicate any significant positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This transaction is a common occurrence where executives sell shares to cover tax obligations related to equity compensation.
Key Dates
| Date | Description |
|---|---|
| 04/01/2021 | Date of grant for the Restricted Stock Units (RSUs). |
| 04/01/2024 | Date of the transaction (disposal of shares). |
| 04/02/2024 | Date of signature on the Form 4 filing. |
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