Chevron (CVX) CEO Michael Wirth logs major option exercises and stock sales

Rhea-AI Filing Summary

Chevron Corporation’s Chairman and CEO Michael K. Wirth reported multiple stock transactions on January 5, 2026. He exercised two non-qualified stock options covering 239,900 shares at $83.29 and 80,800 shares at $117.24 per share, converting them into common stock. On the same day, he sold several blocks of Chevron common stock pursuant to a Rule 10b5-1 trading plan adopted on November 6, 2024, including 47,910 shares at $161.1191, 134,540 shares at $162.5419, 82,934 shares at $163.6076, 30,244 shares at $164.5791, and 25,072 shares at $165.0531, all at weighted average prices. After these transactions, he held 14,450 shares directly, plus indirect holdings of 18,684 shares through a 401(k) plan, 17,784 shares via a limited partnership where he owns a 1% general partnership interest, and 51 shares through the Wirth Family Trust.

Insights

Insider equity compensation and governance analyst

Chevron’s CEO exercised long‑standing options and sold shares under a pre-set 10b5-1 trading plan.

Michael K. Wirth, Chevron’s Chairman and CEO, exercised two non-qualified stock options granted in 2016 and 2017, covering 239,900 and 80,800 shares at exercise prices of $83.29 and $117.24. These options were fully vested years earlier, so the activity reflects use of existing equity awards rather than new grants.

On the same day, he sold multiple blocks of common stock at weighted average prices between $161.1191 and $165.0531, all pursuant to a Rule 10b5-1 trading plan adopted on November 6, 2024. Such plans automate trading and are intended to provide an affirmative defense against allegations of trading on material nonpublic information.

Following the transactions, Wirth reported 14,450 shares held directly and additional indirect holdings: 18,684 shares via a 401(k) plan, 17,784 shares via a limited partnership where he has a 1% general partnership interest, and 51 shares via the Wirth Family Trust. He disclaims beneficial ownership of the limited partnership shares except to the extent of his pecuniary interest.

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).

X

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^*

Wirth Michael K

(Last) (First) (Middle)

1400 SMITH STREET

(Street)

HOUSTON TX 77002

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CHEVRON CORP [ CVX ]

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)
01/05/2026

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	01/05/2026		M(1)		239,900	A	$83.29	254,350	D
Common Stock	01/05/2026		M(1)		80,800	A	$117.24	335,150	D
Common Stock	01/05/2026		S(1)		47,910	D	$161.1191(2)	287,240	D
Common Stock	01/05/2026		S(1)		134,540	D	$162.5419(3)	152,700	D
Common Stock	01/05/2026		S(1)		82,934	D	$163.6076(4)	69,766	D
Common Stock	01/05/2026		S(1)		30,244	D	$164.5791(5)	39,522	D
Common Stock	01/05/2026		S(1)		25,072	D	$165.0531(6)	14,450	D
Common Stock								18,684	I	By 401(k) plan
Common Stock								17,784	I	By Limited Partnership(7)
Common Stock								51	I	By Wirth Family Trust

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
Non-Qualified Stock Option (Right to Buy)	$83.29	01/05/2026		M			239,900	(8)	01/27/2026	Common Stock	239,900	$0	0	D
Non-Qualified Stock Option (Right to Buy)	$117.24	01/05/2026		M			80,800	(9)	01/25/2027	Common Stock	80,800	$0	0	D

Explanation of Responses:

1. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 6, 2024.

2. These shares were sold in multiple transactions at prices ranging from $160.965 to $161.17, inclusive. The price reported in Column 4 reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (2) through (6) to this Form 4.

3. These shares were sold in multiple transactions at prices ranging from $162.00 to $162.97, inclusive. The price reported in Column 4 reflects the weighted average sale price.

4. These shares were sold in multiple transactions at prices ranging from $163.025 to $164.02, inclusive. The price reported in Column 4 reflects the weighted average sale price.

5. These shares were sold in multiple transactions at prices ranging from $164.03 to $165.00, inclusive. The price reported in Column 4 reflects the weighted average sale price.

6. These shares were sold in multiple transactions at prices ranging from $165.03 to $165.15, inclusive. The price reported in Column 4 reflects the weighted average sale price.

7. The reporting person owns only a 1% general partnership interest in the limited partnership. The remaining limited partnership interests are owned equally by four separate trusts for the benefit of each of the reporting person's children. The reporting person disclaims beneficial ownership of the shares held by the limited partnership except to the extent of his pecuniary interest therein.

8. Option granted 1/27/2016. One-third of the shares subject to the option vested on January 27, 2017, January 27, 2018 and January 27, 2019, respectively.

9. Option granted 1/25/2017. One-third of the shares subject to the option vested on January 31, 2018, January 31, 2019 and January 31, 2020, respectively.

	/s/ Rose Z. Pierson, Attorney-in-Fact for Michael K. Wirth	01/07/2026
	** 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 stock transactions did Chevron (CVX) CEO Michael Wirth report?

Michael K. Wirth reported exercising two non-qualified stock options into Chevron common stock on January 5, 2026, and selling several blocks of common shares the same day at weighted average prices between $161.1191 and $165.0531.

How many Chevron (CVX) shares did Michael Wirth acquire through option exercises?

On January 5, 2026, Michael Wirth exercised options for 239,900 shares at $83.29 per share and 80,800 shares at $117.24 per share, converting those option awards into Chevron common stock.

At what prices did Chevron CEO Michael Wirth sell shares on January 5, 2026?

He reported multiple sale transactions in Chevron common stock at weighted average prices including $161.1191, $162.5419, $163.6076, $164.5791, and $165.0531 per share, each executed in multiple trades within disclosed price ranges.

Was Michael Wirth’s Chevron (CVX) stock selling done under a Rule 10b5-1 plan?

Yes. A footnote states that the sales reported were effected pursuant to a Rule 10b5-1 trading plan adopted by Michael Wirth on November 6, 2024.

How many Chevron shares does Michael Wirth hold after these transactions?

After the reported transactions, he directly held 14,450 shares of Chevron common stock and indirect holdings of 18,684 shares via a 401(k) plan, 17,784 shares via a limited partnership, and 51 shares via the Wirth Family Trust.

What does the filing say about Michael Wirth’s ownership in the limited partnership holding Chevron shares?

The filing states that he owns only a 1% general partnership interest in the limited partnership, with the remaining interests held by four trusts for his children, and he disclaims beneficial ownership of those shares except to the extent of his pecuniary interest.