Form 4: Phillips 66 Executive Vice President Don Baldridge Reports Share Transaction

Executive Vice President of Phillips 66, Don Baldridge, reports a transaction involving the withholding of 87 shares to cover FICA taxes.

Summary

• Don Baldridge, an Executive Vice President at Phillips 66, reported a transaction on December 2, 2024.
• The transaction involved the withholding of 87 shares of common stock to satisfy FICA taxes.
• The price per share was $134.305, which is the average of the high and low price of the company's stock on that day.
• Following the transaction, Mr. Baldridge beneficially owns 43,471 shares of Phillips 66 common stock.
• These shares are held as Restricted Stock Units that settle for shares of Phillips 66 common stock on a 1-for-1 basis.
• The report was filed late due to an administrative error.

Sentiment

Score: 7

Explanation: The document is a routine filing of a stock transaction, with a minor negative of a late filing due to an administrative error. Overall, it's a neutral event with a slight negative.

Negatives

• The report was filed late due to an administrative error.

Risks

• Administrative errors in reporting can lead to compliance issues.

Industry Context

This is a routine filing related to executive compensation and tax obligations, common in publicly traded companies.

Comparison to Industry Standards

• Form 4 filings are standard practice for reporting transactions by company insiders in accordance with SEC regulations.
• The withholding of shares for tax purposes is a common practice in executive compensation packages across various industries.
• The reported transaction is similar to those of other executives at comparable companies.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine tax-related transaction for an executive.

Key Dates

Keywords

Phillips 66, PSX, Executive Vice President, Don Baldridge, Form 4, FICA taxes, stock transaction, Restricted Stock Units, beneficial ownership