Form 4: Valero SVP Fisher Reports Stock Transactions

Valero Energy Corp's Senior Vice President Eric A. Fisher reported the settlement of performance shares and subsequent stock transactions on January 21, 2026.

Summary

• Eric A. Fisher, SVP of Valero Energy Corp/TX (VLO), reported multiple transactions on January 21, 2026.
• Acquired a total of 13,073 shares of common stock through the settlement of performance shares.
• These performance shares settled at 175%, 200%, and 150% of their base terms, indicating strong performance against targets.
• Disposed of 5,190 shares of common stock at $190.33 to cover tax liabilities related to the share settlements.
• Disposed of an additional 3,941 shares of common stock at $190.33.
• Following these transactions, Fisher directly beneficially owns 46,921 shares of common stock.
• Indirectly holds an additional 1,083.877 shares in a thrift plan and 400 shares in family trusts, which are not included in the direct ownership count.

Sentiment

Score: 6

Explanation: The settlement of performance shares at favorable percentages (150-200% of base) is a positive indicator of executive performance and company goal achievement. While there were dispositions, some were tax-related, and the executive's overall direct beneficial ownership increased, showing continued alignment.

Positives

• Settlement of performance shares at 175%, 200%, and 150% of base terms indicates the achievement of performance targets by the executive.
• The executive's direct beneficial ownership increased by a net of 3,942 shares (13,073 acquired 9,131 disposed) from the reported transactions, demonstrating continued alignment with shareholder interests.

Negatives

• Disposition of 3,941 shares at $190.33, in addition to tax-related sales, represents a reduction in direct holdings.

Future Outlook

NA

Industry Context

This Form 4 filing is a routine disclosure of an insider's stock transactions and does not provide broader industry context. Valero Energy operates in the refining and marketing sector, and executive compensation structures often include performance-based equity awards tied to company performance.

Stakeholder Impact

• Shareholders: The executive's increased direct beneficial ownership aligns management interests with shareholder value. The successful settlement of performance shares suggests the company met certain performance metrics, which could be positive for shareholders.

Key Dates

Keywords

Valero Energy, VLO, Insider Trading, Form 4, Stock Transaction, Performance Shares, Executive Compensation, Beneficial Ownership