Form 4: Phillips 66 Executive VP and CFO Reports Share Transaction

Kevin J. Mitchell, Executive VP and CFO of Phillips 66, reported a transaction involving the withholding of shares to cover FICA taxes.

Summary

• Kevin J. Mitchell, the Executive VP and CFO of Phillips 66, filed a Form 4 disclosing a transaction on December 2, 2024.
• The transaction involved the withholding of 347 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, Mitchell directly owns 81,590 shares of Phillips 66 common stock.
• Mitchell also indirectly owns 1,300.838 shares through the COP Savings Plan.
• The reported holdings include 34,092 Restricted Stock Units that will settle for shares of Phillips 66 common stock on a 1-for-1 basis.

Sentiment

Score: 7

Explanation: The document is a routine filing related to executive compensation and tax obligations. There is no indication of any positive or negative sentiment.

Industry Context

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

Comparison to Industry Standards

• Form 4 filings are standard practice for corporate insiders at publicly traded companies like Phillips 66.
• The transaction is a common occurrence related to tax obligations on equity compensation, similar to what is seen at other large energy companies such as Exxon Mobil (XOM) and Chevron (CVX).
• The reporting of restricted stock units is also a standard practice, and the 1-for-1 settlement is typical.

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 VP, CFO, Kevin J. Mitchell, Form 4, Share Transaction, FICA Taxes, Restricted Stock Units, COP Savings Plan