Chevron (NYSE: CVX) director reports discretionary phantom stock transaction

Rhea-AI Filing Summary

Chevron director Charles W. Moorman reported a discretionary transaction involving 238 units of phantom stock at an equivalent price of $189.60 per unit under the Chevron Non-Employee Directors' Equity Compensation and Deferral Plan. These phantom stock units are payable in Chevron common stock when his board service ends, on a 1-for-1 basis. After this transaction, he holds 20,299 phantom stock units, a figure that includes 221 units from dividend equivalent accruals under the same plan.

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

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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^*

MOORMAN CHARLES W

(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
	Officer (give title below)		Other (specify below)

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)
			Code	V	Amount	(A) or (D)	Price

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
Phantom Stock(1)	(2)	03/02/2026		I		238		(1)	(1)	Common Stock	238	$189.6	20,299(3)	D

Explanation of Responses:

1. The shares of phantom stock issued under the Chevron Non-Employee Directors' Equity Compensation and Deferral Plan become payable in common stock upon the reporting person's termination of service.

2. 1-for-1.

3. This number includes dividend equivalent accruals (221) under the Chevron Non-Employee Directors' Equity Compensation and Deferral Plan.

	/s/ Rose Z. Pierson, Attorney-in-Fact for Charles W. Moorman	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.

FAQ

What insider transaction did Chevron (CVX) director Charles W. Moorman report?

Chevron director Charles W. Moorman reported a discretionary transaction involving 238 units of phantom stock at an equivalent price of $189.60 per unit. The transaction occurred under Chevron’s Non-Employee Directors' Equity Compensation and Deferral Plan.

What is the nature of the phantom stock in the Chevron (CVX) Form 4 filing?

The phantom stock units are issued under the Chevron Non-Employee Directors' Equity Compensation and Deferral Plan. They become payable in Chevron common stock on a 1-for-1 basis when the director’s service on the board terminates.

How many phantom stock units does Charles W. Moorman hold after this Chevron (CVX) transaction?

Following the reported discretionary transaction, Charles W. Moorman holds 20,299 phantom stock units. This total includes 221 units that reflect dividend equivalent accruals credited under Chevron’s Non-Employee Directors' Equity Compensation and Deferral Plan.

Was the Chevron (CVX) Form 4 transaction a buy or sell of common stock?

The reported activity was a discretionary transaction in phantom stock, coded under Rule 16b-3(f), not an open-market buy or sell of Chevron common shares. It adjusts deferred equity compensation rather than regular stock trading.

At what reference price were the Chevron (CVX) phantom stock units valued in this Form 4?

The 238 phantom stock units in the transaction were valued at an equivalent price of $189.60 per unit. This price serves as the reference value used for reporting the deferred equity compensation adjustment.