Chevron (NYSE: CVX) CEO sells shares, no 10b5-1 plan noted
Rhea-AI Filing Summary
Chevron Corp (CVX) Chairman and CEO Michael K. Wirth exercised a non-qualified stock option for 317,100 shares of common stock at an exercise price of $88.20 per share and received the underlying shares.
On the same date, he sold a total of 317,100 Chevron common shares in open-market transactions at weighted average prices of about $200.44 and $201.05. Following these transactions, he reports indirect holdings of 17,784 shares through a limited partnership (where he owns a 1% general partnership interest and disclaims beneficial ownership beyond his pecuniary interest), 19,036 shares through a 401(k) plan, and 51 shares through the Wirth Family Trust. The Rule 10b5-1 trading-plan checkbox was not marked as applicable.
Positive
- None.
Negative
- None.
Insider Trade Summary
Exercise and Sale: 317,100 shares ($35.60M approx. pre-tax spread)
Exercise and Sale
7 txns
Insider
Wirth Michael K
Role
Chairman and CEO
Sold
317,100 shs ($63.57M)
Approx. gross sale proceeds
$63.57M
Approx. exercise cost
$27.97M
Approx. pre-tax spread
$35.60M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Non-Qualified Stock Option (Right to Buy) F4 | 317,100 | $0.00 | $0.00 |
| Exercise | Common Stock | 317,100 | $88.20 | $27.97M |
| Sale | Common Stock F1 | 306,789 | $200.4433 | $61.49M |
| Sale | Common Stock F2 | 10,311 | $201.0534 | $2.07M |
| holding | Common Stock F3 | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Non-Qualified Stock Option (Right to Buy) — 0 shares (Direct);
Common Stock — 26,308 shares (Direct);
Common Stock — 17,784 shares (Indirect, By Limited Partnership);
Common Stock — 19,036 shares (Indirect, By 401(k) plan);
Common Stock — 51 shares (Indirect, By Wirth Family Trust)
Footnotes (4)
- F1. These shares were sold in multiple transactions at prices ranging from $200.00 to $200.99, 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 (1) and (2) to this Form 4.
- F2. These shares were sold in multiple transactions at prices ranging from $201.00 to $201.12, inclusive. The price reported in Column 4 reflects the weighted average sale price.
- F3. 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.
- F4. Option granted 1/27/2021. One-third of the shares subject to the option vested on January 31, 2022, January 31, 2023 and January 31, 2024, respectively.
Key Figures
Option shares exercised: 317,100 shares
Option exercise price: $88.20 per share
Shares sold at $200.4433: 306,789 shares
+5 more
8 metrics
Option shares exercised
317,100 shares
Non-Qualified Stock Option exercised on 2026-08-14
Option exercise price
$88.20 per share
Exercise price of Non-Qualified Stock Option granted 1/27/2021
Shares sold at $200.4433
306,789 shares
Open-market sale on 2026-08-14 at weighted average price
Shares sold at $201.0534
10,311 shares
Open-market sale on 2026-08-14 at weighted average price
Indirect LP holdings
17,784 shares
Held indirectly by limited partnership; 1% general partnership interest
Indirect 401(k) holdings
19,036 shares
Chevron common stock held indirectly by 401(k) plan
Indirect trust holdings
51 shares
Chevron common stock held indirectly by Wirth Family Trust
Option expiration date
2031-01-27
Expiration of Non-Qualified Stock Option exercised
Key Terms
Non-Qualified Stock Option, weighted average sale price, pecuniary interest, general partnership interest, +1 more
5 terms
Non-Qualified Stock Option financial
"security_title: "Non-Qualified Stock Option (Right to Buy)""
A non-qualified stock option (NSO) is a contract that lets an employee or service provider buy company shares at a fixed price for a set period, like a voucher to purchase stock later at today’s price. It matters to investors because exercising NSOs creates ordinary income for the holder and can increase share count, affecting a company’s earnings and ownership mix; think of it as a future sale that can dilute existing shareholders and has immediate tax consequences for the recipient.
weighted average sale price financial
"The price reported in Column 4 reflects the weighted average sale price"
pecuniary interest financial
"disclaims beneficial ownership of the shares held ... except to the extent of his pecuniary interest"
general partnership interest financial
"The reporting person owns only a 1% general partnership interest in the limited partnership"
Rule 10b5-1 regulatory
"The Rule 10b5-1 trading-plan checkbox was not marked as applicable"
Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.
FAQ
What did Chevron (CVX) CEO Michael Wirth report in this Form 4?
Michael Wirth reported exercising a non-qualified stock option for 317,100 shares of Chevron common stock at $88.20 per share and then selling 317,100 shares of common stock in open-market transactions on August 14, 2026.
What stock option did Michael Wirth exercise in this Chevron (CVX) Form 4?
He exercised a non-qualified stock option covering 317,100 shares of Chevron common stock at an exercise price of $88.20 per share. The option was granted on January 27, 2021 and fully vested by January 31, 2024, with expiration on January 27, 2031.
Was Michael Wirth’s Chevron (CVX) trading under a Rule 10b5-1 plan?
The filing’s Rule 10b5-1 checkbox is not marked as affirmatively adopted, and no footnote states that these trades were executed under a 10b5-1 trading plan, indicating the transactions are not represented as plan-based in this report.
AI-generated analysis. How Rhea-AI works. Not financial advice.
