Form 4: Phillips 66 EVP's Routine Tax Withholding on RSU Vesting

Phillips 66 Executive Vice President Richard G. Harbison reported a routine disposition of shares to cover tax obligations upon the vesting of Restricted Stock Units.

Summary

• Richard G. Harbison, EVP, Refining at Phillips 66 (PSX), reported a transaction involving company common stock.
• On February 7, 2026, 1,378 shares of common stock were disposed of to satisfy tax withholding obligations.
• This disposition was in connection with the vesting of Restricted Stock Units (RSUs) that were granted on February 7, 2023.
• The shares were disposed of at an average price of $156.925, calculated from the high and low prices of the company's stock on February 6, 2026.
• Following this transaction, Mr. Harbison directly beneficially owns 30,923 shares, which includes 14,837 RSUs that settle on a 1-for-1 basis.
• Indirect beneficial ownership includes 40 shares held by his son and 6,714.876 shares held through the Phillips 66 Savings Plan, which includes shares from ongoing acquisitions and routine dividend transactions exempt under Rule 16a-11.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event. It is a standard, non-discretionary transaction related to executive compensation and tax obligations, carrying no inherent positive or negative implications for the company's operational or financial performance.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

StockSavvy.ai notes that routine insider transactions, such as share dispositions for tax withholding upon RSU vesting, are common across all industries, particularly for executives receiving equity compensation. These transactions are generally not indicative of management's sentiment towards the company's future prospects but rather a standard part of compensation and tax planning.

Stakeholder Impact

• Shareholders: Minimal direct impact as this is a routine, non-discretionary transaction for tax purposes, not a sale driven by a change in investment sentiment.
• Employees: No direct impact on the broader employee base, as this relates to an executive's personal compensation and tax management.

Key Dates

Recommendation

This Form 4 filing details a routine, non-discretionary transaction by an executive to cover tax obligations upon RSU vesting. It does not provide new information regarding the company's operational performance, strategic direction, or financial health that would warrant a change in investment recommendation. Therefore, a 'hold' recommendation is appropriate, maintaining existing positions based on broader company fundamentals and market conditions rather than this specific insider filing.

Keywords

Phillips 66, PSX, Form 4, Insider Transaction, Restricted Stock Units, RSU Vesting, Tax Withholding, Beneficial Ownership, Executive Compensation