Form 4: Valero CEO Riggs Reports Significant Stock Transactions

Valero Energy CEO R. Lane Riggs reported multiple transactions involving common stock and performance share settlements on January 21, 2026.

Summary

• R. Lane Riggs, CEO & President and Director of Valero Energy Corp/TX (VLO), reported multiple stock transactions on January 21, 2026.
• Riggs acquired a total of 72,232 shares of common stock through the settlement of previously granted performance shares.
• These performance shares settled at various percentages of their base: 13,721 shares and 5,576 shares at 175% of base, 28,799 shares at 200% of base, and 24,136 shares at 150% of base.
• Riggs disposed of a total of 50,343 shares of common stock at a price of $190.33 per share, likely for tax withholding purposes related to the performance share settlements.
• Following these transactions, Riggs' direct beneficial ownership of Valero common stock stands at 366,170 shares.

Sentiment

Score: 7

Explanation: The settlement of performance shares at high percentages (150-200% of base) indicates strong achievement of executive performance targets, which is generally positive for the company. The associated dispositions are typical for tax withholding and do not suggest a negative outlook.

Positives

• Settlement of performance shares at 175%, 200%, and 150% of base indicates strong achievement of pre-defined performance targets by the executive.
• The acquisition of 72,232 shares of common stock through these settlements increases the executive's direct equity stake before tax-related dispositions.

Negatives

• The disposition of 50,343 shares of common stock at $190.33 per share reduces the executive's direct beneficial ownership.

Future Outlook

NA

Industry Context

These transactions reflect routine executive compensation events common in the energy sector, where performance-based equity awards are a standard component of executive pay packages. The high settlement percentages suggest Valero's performance met or exceeded internal targets, which is generally positive for the company within its competitive landscape.

Related Party Transactions

• The transactions involve the settlement of performance shares granted by Valero Energy Corp/TX to its CEO and President, R. Lane Riggs, and subsequent dispositions of common stock. These are standard compensation-related dealings between an executive and the company.

Stakeholder Impact

• Shareholders: The settlement of performance shares at high percentages indicates that the company's performance targets, tied to executive compensation, were met or exceeded, which can be viewed positively. The associated stock dispositions are a common part of executive compensation and tax planning.
• Management: R. Lane Riggs' compensation package includes these performance-based awards, aligning his interests with company performance.

Key Dates

Recommendation

This Form 4 details routine executive compensation events, specifically the settlement of performance shares and associated tax-related dispositions. While the high settlement percentages indicate strong executive performance, these transactions do not provide new fundamental information about the company's operational or financial outlook that would warrant a change in investment recommendation.

Keywords

Valero, VLO, R. Lane Riggs, insider trading, stock transactions, performance shares, CEO, director, SEC Form 4