Were Michael Wirth’s Chevron (CVX) share sales part of a Rule 10b5‑1 plan?

Yes. The Form 4 states the sales were executed under a Rule 10b5‑1 trading plan adopted on November 26, 2025. Such plans allow insiders to pre‑schedule transactions, helping separate personal trading decisions from later corporate developments.

Chevron (CVX) CEO Wirth exercises options and sells 272,624 shares

Filing Impact

(Very High)

Filing Sentiment

(Very Negative)

Form Type

Rhea-AI Filing Summary

Chevron Corp Chairman and CEO Michael K. Wirth reported option exercises and share sales in Chevron common stock. On March 2, 2026, he exercised non-qualified stock options to acquire a total of 272,624 shares and then sold 272,624 shares in multiple open‑market transactions under a pre-arranged Rule 10b5‑1 trading plan. Reported sale prices ranged from about $188.01 to $190.60 per share, and he continued to hold Chevron shares both directly and through indirect interests, including a limited partnership, 401(k) plan and family trust.

Insider Trade Summary

Net Seller: 272,624 shares ($51,622,487)

Net Sell 12 txns

Insider Wirth Michael K

Role Chairman and CEO

Sold 272,624 shs ($51.62M)

Type	Security	Shares	Price	Value
Exercise	Non-Qualified Stock Option (Right to Buy)	182,100	$0.00	--
Exercise	Non-Qualified Stock Option (Right to Buy)	90,524	$0.00	--
Exercise	Common Stock	182,100	$125.35	$22.83M
Sale	Common Stock	27,672	$188.0056	$5.20M
Sale	Common Stock	86,329	$188.82	$16.30M
Sale	Common Stock	64,399	$189.6122	$12.21M
Sale	Common Stock	3,700	$190.60	$705K
Exercise	Common Stock	90,524	$113.01	$10.23M
Sale	Common Stock	90,524	$190.0413	$17.20M
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Non-Qualified Stock Option (Right to Buy) — 0 shares (Direct); Common Stock — 213,366 shares (Direct); Common Stock — 17,784 shares (Indirect, By Limited Partnership)

Footnotes (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 26, 2025. These shares were sold in multiple transactions at prices ranging from $187.31 to $188.30, 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 (5) to this Form 4. These shares were sold in multiple transactions at prices ranging from $188.31 to $189.30, inclusive. The price reported in Column 4 reflects the weighted average sale price. These shares were sold in multiple transactions at prices ranging from $189.31 to $190.12, inclusive. The price reported in Column 4 reflects the weighted average sale price. These shares were sold in multiple transactions at prices ranging from $190.00 to $190.635, inclusive. The price reported in Column 4 reflects the weighted average sale price. 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. Option granted 1/31/2018. One-third of the shares subject to the option vested on January 31, 2019, January 31, 2020 and January 31, 2021, respectively. Option granted 1/30/2019. One-third of the shares subject to the option vested on January 31, 2020, January 31, 2021 and January 31, 2022, respectively.

Form 4 Insider Transactions: What Each Field Means →

03/04/2026 - 06:09 PM

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^*

Wirth Michael K

(Last)

(First)

(Middle)

1400 SMITH STREET

(Street)

HOUSTON

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)
03/02/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	03/02/2026		M⁽¹⁾		182,100	A	$125.35	213,366	D
Common Stock	03/02/2026		S⁽¹⁾		27,672	D	$188.0056⁽²⁾	185,694	D
Common Stock	03/02/2026		S⁽¹⁾		86,329	D	$188.82⁽³⁾	99,365	D
Common Stock	03/02/2026		S⁽¹⁾		64,399	D	$189.6122⁽⁴⁾	34,966	D
Common Stock	03/02/2026		S⁽¹⁾		3,700	D	$190.6	31,266	D
Common Stock	03/02/2026		M		90,524	A	$113.01	121,790	D
Common Stock	03/02/2026		S		90,524	D	$190.0413⁽⁵⁾	31,266	D
Common Stock								17,784	I	By Limited Partnership⁽⁶⁾
Common Stock								18,684	I	By 401(k) plan
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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Non-Qualified Stock Option (Right to Buy)	$125.35	03/02/2026		M			182,100	⁽⁷⁾	01/31/2028	Common Stock	182,100	$0	0	D
Non-Qualified Stock Option (Right to Buy)	$113.01	03/02/2026		M			90,524	⁽⁸⁾	01/30/2029	Common Stock	90,524	$0	146,376	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 26, 2025.

2. These shares were sold in multiple transactions at prices ranging from $187.31 to $188.30, 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 (5) to this Form 4.

3. These shares were sold in multiple transactions at prices ranging from $188.31 to $189.30, 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 $189.31 to $190.12, 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 $190.00 to $190.635, inclusive. The price reported in Column 4 reflects the weighted average sale price.

6. 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.

7. Option granted 1/31/2018. One-third of the shares subject to the option vested on January 31, 2019, January 31, 2020 and January 31, 2021, respectively.

8. Option granted 1/30/2019. One-third of the shares subject to the option vested on January 31, 2020, January 31, 2021 and January 31, 2022, respectively.

	/s/ Rose Z. Pierson, Attorney-in-Fact for Michael K. Wirth	03/04/2026
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What did Chevron (CVX) CEO Michael Wirth report in this Form 4 filing?

Michael Wirth reported exercising stock options and selling Chevron shares. He exercised options into 272,624 common shares, then sold 272,624 shares in several open‑market transactions, all executed under a pre‑arranged Rule 10b5‑1 trading plan adopted in November 2025.

How many Chevron (CVX) shares did Michael Wirth sell in the reported transactions?

Michael Wirth sold 272,624 Chevron common shares. The filing shows multiple open‑market sale tranches, each with its own reported weighted‑average price, all executed on March 2, 2026, pursuant to an established Rule 10b5‑1 trading plan.

At what prices were Michael Wirth’s Chevron (CVX) shares sold in this Form 4?

The Chevron shares were sold at weighted‑average prices generally between about $188.01 and $190.64 per share. Footnotes explain that each sale covered multiple trades within narrow price ranges, and detailed trade‑by‑trade data is available from Michael Wirth upon request.

Did Michael Wirth retain Chevron (CVX) ownership after these transactions?

Yes. After the reported trades, Michael Wirth continued to hold Chevron shares directly and indirectly. The Form 4 lists direct common stock holdings and indirect interests through a limited partnership, a 401(k) plan, and the Wirth Family Trust, with specific share counts for each.