Chevron (NYSE: CVX) CFO exercises options and sells 45,800 shares

Rhea-AI Filing Summary

Chevron Corporation’s Chief Financial Officer Eimear P. Bonner reported a series of option exercises and related share sales. She exercised non-qualified stock options into 45,800 shares of common stock on February 27 and March 2, 2026, then sold 45,800 shares in open-market transactions.

The sales, at weighted-average prices generally in the mid-$180s to about $190.60 per share, were carried out under a Rule 10b5-1 trading plan adopted on November 22, 2025. After these transactions, she directly owned 8,427 Chevron shares and indirectly held 408 shares through a share incentive plan.

Insights

Equity analyst

Chevron’s CFO exercised options and sold an offsetting number of shares under a pre-set plan.

Chevron’s Chief Financial Officer, Eimear P. Bonner, exercised non-qualified stock options to acquire 45,800 shares of common stock, then sold 45,800 shares in open-market trades. These transactions used code M for derivative exercises and S for sales, reflecting both option conversion and share disposals.

The filing notes that all reported sales followed a Rule 10b5-1 trading plan adopted on November 22, 2025, meaning trades were pre-arranged when she did not yet know future market conditions. Reported sale prices cluster in ranges around $184–$191 per share, with weighted-average prices disclosed for each block.

After these trades, Bonner directly held 8,427 Chevron shares and had 408 shares held indirectly through a share incentive plan. The net effect is a net-sell of 45,800 shares, but the use of a 10b5-1 plan and the modest size relative to Chevron’s overall equity base point to a routine executive liquidity and compensation event.

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^*

BONNER EIMEAR P

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/27/2026

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	02/27/2026		M(1)		18,800	A	$152.35	27,228(2)	D
Common Stock	02/27/2026		M(1)		9,600	A	$153.22	36,828	D
Common Stock	02/27/2026		S(1)		5,500	D	$184.2776(3)	31,328	D
Common Stock	02/27/2026		S(1)		2,500	D	$185.3335(4)	28,828	D
Common Stock	02/27/2026		S(1)		18,100	D	$186.5605(5)	10,728	D
Common Stock	02/27/2026		S(1)		2,300	D	$187.1605(6)	8,428	D
Common Stock	03/02/2026		M(1)		17,400	A	$179.08	25,828	D
Common Stock	03/02/2026		S(1)		17,400	D	$190.6	8,427	D
Common Stock								408	I	Share Incentive 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
Non-Qualified Stock Option (Right to Buy)	$152.35	02/27/2026		M			18,800	(7)	02/06/2034	Common Stock	18,800	$0	9,400	D
Non-Qualified Stock Option (Right to Buy)	$153.22	02/27/2026		M			9,600	(8)	02/04/2035	Common Stock	9,600	$0	19,200	D
Non-Qualified Stock Option (Right to Buy)	$179.08	03/02/2026		M			17,400	(9)	01/25/2033	Common Stock	17,400	$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 22, 2025.

2. This number includes rounding of fractional shares.

3. This transaction was executed in multiple trades at prices ranging from $183.85 to $184.82, 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 (3) through (6) to this Form.

4. These shares were sold in multiple transactions at prices ranging from $184.85 to $185.83, 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 $185.87 to $186.85, 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 $186.95 to $187.43, inclusive. The price reported in Column 4 reflects the weighted average sale price.

7. Option granted 2/6/2024. One-third of the shares subject to the option vested on February 10, 2025 and February 10, 2026, respectively, and one-third of the shares will vest on February 10, 2027.

8. Option granted 2/4/2025. One-third of the shares subject to the option vested on February 10, 2026 and one-third of the shares will vest on February 10, 2027 and February 10, 2028, respectively.

9. Option granted 1/25/2023. One-third of the shares subject to the option vested on January 31, 2024, January 31, 2025 and January 31, 2026, respectively.

	/s/ Rose Z. Pierson, Attorney-in-Fact for Eimear P. Bonner	03/03/2026
	** 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

How many Chevron (CVX) shares did the CFO sell in this Form 4?

Chevron’s CFO, Eimear P. Bonner, sold a total of 45,800 shares of common stock. The filing groups several open-market sale transactions, with weighted-average prices disclosed for each block and trades executed around the mid-$180s to about $190.60 per share.

Did Chevron (CVX) CFO Eimear Bonner exercise stock options in this filing?

Yes. Eimear P. Bonner exercised non-qualified stock options covering 45,800 shares of Chevron common stock. These exercises, coded as M transactions, converted derivative securities into common shares before related open-market sales reported in the same Form 4.

Were the Chevron (CVX) CFO’s share sales made under a Rule 10b5-1 plan?

Yes. The Form 4 states the sales were made under a Rule 10b5-1 trading plan adopted on November 22, 2025. Such plans pre-schedule trades, helping executives diversify or access liquidity while reducing concerns about trading on nonpublic information.

What prices did Chevron (CVX) CFO receive for the shares sold?

The Form 4 reports weighted-average sale prices generally in the $184–$187 range on February 27, 2026, and about $190.60 per share on March 2, 2026. Footnotes note multiple trades within price ranges for each sale block.

How many Chevron (CVX) shares does the CFO hold after these transactions?

Following the reported trades, Eimear P. Bonner directly owned 8,427 shares of Chevron common stock. The filing also shows an additional 408 shares held indirectly through a Share Incentive Plan, reflecting equity-based compensation arrangements.

What is the overall buy-sell direction in this Chevron (CVX) Form 4?

The transaction summary shows a net-sell position of 45,800 shares. While the CFO exercised options to acquire shares, she sold an equal number in open-market transactions, resulting in a net reduction in her directly held Chevron share count.