Form 4: Phillips 66 Executive Pruitt Exercises Stock Options and Sells Shares
SEC Form 4
Phillips 66 Vice President and Controller Joseph Scott Pruitt executed stock options and sold shares of common stock on March 18 and March 20, 2024.
Summary
- Joseph Scott Pruitt, Vice President and Controller of Phillips 66, engaged in multiple transactions involving Phillips 66 common stock.
- On March 18, 2024, Pruitt exercised options to acquire 4,200 shares at a price of $89.57 and sold 4,200 shares at $157.465 per share.
- Additionally, on the same day, Pruitt sold 1,722 shares at $157.23 per share.
- On March 20, 2024, Pruitt exercised options to acquire 3,700 shares at $94.9675 and 3,500 shares at $74.7.
- He then sold 7,200 shares at a weighted average price of $157.2625.
- Following these transactions, Pruitt directly owns 6,583 shares of common stock and indirectly owns 5,813.576 shares through the Phillips 66 Savings Plan.
- He also holds no derivative securities directly.
Sentiment
Score: 5
Explanation: Neutral sentiment as it is a standard Form 4 filing detailing stock transactions by an executive. There is no indication of positive or negative sentiment towards the company's prospects.
Industry Context
Form 4 filings are a routine part of the financial markets, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Comparison to Industry Standards
- Executive compensation packages often include stock options to align management's interests with those of shareholders.
- The exercise and sale of shares by executives are common occurrences and are typically disclosed through Form 4 filings.
- The specific details of option grants, vesting schedules, and exercise prices vary widely across companies and industries.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership of shares.
- The impact on employees, customers, suppliers, and creditors is likely negligible.
Key Dates
| Date | Description |
|---|---|
| 02/04/2021 | Employee Stock Options ($89.57) became exercisable in three equal annual installments beginning on this date. |
| 02/05/2020 | Employee Stock Options ($94.9675) became exercisable in three equal annual installments beginning on this date. |
| 02/09/2022 | Employee Stock Options ($74.7) became exercisable in three equal annual installments beginning on this date. |
| 03/18/2024 | Pruitt exercised stock options and sold shares of common stock. |
| 03/20/2024 | Pruitt exercised stock options and sold shares of common stock. |
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