Form 4: Phillips 66 Executive Vice President Reports Share Transaction

Executive Vice President of Phillips 66, Zhanna Golodryga, reports a transaction involving the withholding of shares to cover FICA taxes.

Summary

• Zhanna Golodryga, an Executive Vice President at Phillips 66, reported a transaction on December 2, 2024.
• The transaction involved the withholding of 154 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, Ms. Golodryga directly owns 26,742 shares and indirectly owns 529.04 shares through the Phillips 66 401K Savings Plan.
• The report also includes 13,949 Restricted Stock Units that will settle for shares of Phillips 66 common stock on a 1-for-1 basis.
• The transaction was reported late due to an administrative error.

Sentiment

Score: 6

Explanation: The document is neutral, reporting a routine transaction with a minor administrative error. There is no indication of positive or negative sentiment.

Negatives

• The transaction was reported late due to an administrative error.

Risks

• Administrative errors in reporting transactions could lead to compliance issues.

Industry Context

This is a routine filing related to insider transactions, which is common for publicly traded companies. It provides transparency into the trading activities of company executives.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies in the US, such as Exxon Mobil (XOM) and Chevron (CVX), where executives are required to report changes in their beneficial ownership of company stock.
• The reporting of FICA tax withholding through share transactions is a common practice across the industry.
• The number of shares and the price are within the expected range for executive transactions in similar companies.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine transaction for tax purposes.

Key Dates

Keywords

Phillips 66, Executive Vice President, Zhanna Golodryga, FICA taxes, share transaction, Form 4, insider trading, restricted stock units