ConocoPhillips (COP) CEO reports major option exercise and share sale

Rhea-AI Filing Summary

ConocoPhillips’ Chairman and CEO, who also serves as a director, reported a large stock option exercise and share sale. On 12/19/2025, he exercised 819,900 stock options for ConocoPhillips common stock at an exercise price of $33.125 per share, receiving the same number of shares.

On the same date, he sold 500,708 shares of common stock at a price of $92.5 per share. After these transactions, he directly owned 325,972 shares of ConocoPhillips common stock. He also held 113,221 shares indirectly through the Lance Family Trust and 21,492.056 units through the ConocoPhillips Savings Plan, which includes units acquired via dividend transactions and a qualified plan. Following the exercise, he no longer held any of the reported stock options.

Insider Trade Summary

Net Seller: 500,708 shares ($46,315,490)

Net Sell 5 txns

Insider Lance Ryan Michael

Role Chairman and CEO

Sold 500,708 shs ($46.32M)

Type	Security	Shares	Price	Value
Exercise	Stock Options (right to Buy)	819,900	$0.00	--
Exercise	Common Stock	819,900	$33.125	$27.16M
Sale	Common Stock	500,708	$92.50	$46.32M
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Stock Options (right to Buy) — 0 shares (Direct); Common Stock — 826,680 shares (Direct); Common Stock — 113,221 shares (Indirect, By Lance Family Trust)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Lance Ryan Michael

(Last) (First) (Middle)

16930 PARK ROW DR.

(Street)

HOUSTON TX 77084

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CONOCOPHILLIPS [ COP ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chairman and CEO

3. Date of Earliest Transaction (Month/Day/Year)
12/19/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	12/19/2025		M		819,900	A	$33.125	826,680	D
Common Stock	12/19/2025		S		500,708	D	$92.5	325,972	D
Common Stock								113,221	I	By Lance Family Trust
Common Stock								21,492.056(1)	I	By ConocoPhillips Savings Plan

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Options (right to Buy)	$33.125	12/19/2025		M			819,900	02/16/2019	02/16/2026	Common Stock	819,900	$0	0	D

Explanation of Responses:

1. Includes units acquired through routine dividend transactions that are exempt under rule 16a-11 and through a qualified plan that are exempt under rule 16b-3.

	Whitney A. Cox, Attorney in Fact (by Power of Attorney filed with the Commission on February 13, 2024)	12/23/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did ConocoPhillips (COP) report for its CEO on December 19, 2025?

On 12/19/2025, ConocoPhillips’ Chairman and CEO exercised 819,900 stock options for common stock at an exercise price of $33.125 per share and sold 500,708 shares of common stock at $92.5 per share.

How many ConocoPhillips shares does the CEO own after the reported Form 4 transactions?

After the reported transactions, the CEO directly owned 325,972 shares of ConocoPhillips common stock, plus 113,221 shares indirectly through the Lance Family Trust and 21,492.056 units through the ConocoPhillips Savings Plan.

What happened to the ConocoPhillips stock options reported in this Form 4 filing?

The CEO exercised 819,900 stock options with an exercise price of $33.125 per share on 12/19/2025. After this exercise, the number of these derivative securities beneficially owned was reported as 0.

What role does the reporting person hold at ConocoPhillips (COP)?

The reporting person is a director and an officer of ConocoPhillips, serving as Chairman and CEO.

How are some of the CEO’s ConocoPhillips holdings structured after the transaction?

In addition to directly held shares, the CEO’s holdings include 113,221 shares indirectly through the Lance Family Trust and 21,492.056 units held via the ConocoPhillips Savings Plan, which includes units acquired through routine dividend transactions and a qualified plan.

What does the explanation note say about the ConocoPhillips Savings Plan units?

The explanation states that the reported 21,492.056 units include units acquired through routine dividend transactions that are exempt under rule 16a-11 and through a qualified plan that is exempt under rule 16b-3.