Form 4: Phillips 66 Director Michael Heim Receives Prorated Restricted Stock Unit Grant

Phillips 66 Director Michael A. Heim was granted 1,043 Restricted Stock Units (RSUs) on June 6, 2025, as part of a prorated annual grant for his new board position, increasing his beneficial ownership to 11,043 shares.

Summary

• Michael A. Heim, a Director at Phillips 66 (PSX), acquired 1,043 shares of common stock on June 6, 2025.
• The acquisition was a grant of Restricted Stock Units (RSUs) at a price of $113.975 per unit, which was the average of the high and low stock price on the transaction date.
• These RSUs convert to Phillips 66 common stock on a 1-for-1 basis.
• This grant represents a prorated amount of the annual grant, reflecting Mr. Heim joining the board.
• Following this transaction, Mr. Heim beneficially owns 11,043 shares, including the newly acquired 1,043 RSUs.

Sentiment

Score: 7

Explanation: The filing indicates a routine compensation event for a new director, which is generally positive for corporate governance by aligning interests, but it does not contain significant new financial or operational news that would dramatically alter the company's outlook.

Positives

• The grant of Restricted Stock Units (RSUs) aligns the director's financial interests with those of the shareholders, promoting long-term value creation.
• The transaction indicates that Michael A. Heim has joined the board as a new director, potentially bringing fresh perspectives and expertise to the company's governance.

Future Outlook

This SEC Form 4 filing is a disclosure of an insider transaction and does not contain forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

This filing details a routine insider transaction related to director compensation, which is a common practice across all industries, including the energy sector where Phillips 66 operates. Such grants are standard mechanisms to align the interests of corporate leadership with those of shareholders.

Comparison to Industry Standards

• Director compensation through equity grants, such as Restricted Stock Units (RSUs), is a widely adopted practice among publicly traded companies, including those in the refining and marketing sector like Phillips 66.
• While the specific value of this prorated grant is disclosed, a detailed comparison to peer companies such as Marathon Petroleum (MPC), Valero Energy (VLO), or other integrated energy companies like ExxonMobil (XOM) for similar director roles would require access to their respective compensation disclosures, which are not provided in this document.

Management Changes

Corporate Governance

Stakeholder Impact

• Shareholders: The RSU grant aligns the director's interests with shareholders, potentially fostering decisions that enhance long-term shareholder value.
• Employees: No direct impact on employees is mentioned in this filing.
• Customers/Suppliers/Creditors: No direct impact on customers, suppliers, or creditors is mentioned in this filing.

Key Dates

Recommendation

Keywords

Phillips 66, PSX, SEC Form 4, Insider Transaction, Restricted Stock Units, RSU, Director Compensation, Beneficial Ownership, Michael Heim