Chevron (NYSE: CVX) legal chief sells 47K shares after option exercise

Rhea-AI Filing Summary

Chevron Corp Chief Legal Officer Pate R. Hewitt exercised stock options and sold the resulting shares. On March 6, 2026, he exercised 47,200 non-qualified stock options for Chevron common stock at an exercise price of $113.01 per share, receiving 47,200 shares.

That same day, he sold 47,200 Chevron common shares in an open-market transaction at $192.12 per share, a sale made under a pre-arranged Rule 10b5-1 trading plan adopted on November 26, 2025. After these transactions, he directly held 8,558 Chevron shares and had additional indirect holdings through a 401(k) plan and family trusts, while disclaiming beneficial ownership of shares held by his spouse's trust.

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

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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).

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^*

Pate R. Hewitt

(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 Legal Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/06/2026

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	03/06/2026		M(1)		47,200	A	$113.01	55,758	D
Common Stock	03/06/2026		S(1)		47,200	D	$192.12	8,558	D
Common Stock								9,486(2)	I	By 401(k) plan
Common Stock								20	I	By Pate Family Trust
Common Stock								13,264	I	By Spouse Trust(3)

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)	$113.01	03/06/2026		M			47,200	(4)	01/30/2029	Common Stock	47,200	$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 26, 2025.

2. Between March 3, 2026 and March 6, 2026, the reporting person acquired 119 shares of Chevron common stock under the Chevron Employee Savings Investment Plan, a 401(k) plan.

3. The reporting person disclaims beneficial ownership of the shares held by his spouse's trust, and this report should not be deemed an admission that the reporting person is the beneficial owner of the shares held by his spouse's trust for purposes of Section 16 or for any other purpose.

4. 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 R. Hewitt Pate	03/10/2026
	** 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.
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FAQ

What did Chevron (CVX) executive Pate R. Hewitt do in this Form 4 filing?

Pate R. Hewitt exercised 47,200 Chevron stock options at $113.01 per share and sold all 47,200 resulting common shares at $192.12. The transactions were reported for March 6, 2026 and involved both option exercise and open-market sale activity.

How many Chevron (CVX) shares did Pate R. Hewitt sell and at what price?

He sold 47,200 Chevron common shares at $192.12 per share. These shares came from exercising the same number of stock options earlier that day. The sale was executed as an open-market transaction and disclosed in the Form 4 filing.

Were Pate R. Hewitt’s Chevron (CVX) share sales pre-planned under a Rule 10b5-1 plan?

Yes. A footnote states the Chevron share sales were effected under a Rule 10b5-1 trading plan adopted on November 26, 2025. Such plans schedule trades in advance, indicating these transactions followed a pre-arranged framework rather than discretionary timing decisions.

How many Chevron (CVX) shares does Pate R. Hewitt hold after these transactions?

After the reported transactions, he directly held 8,558 Chevron common shares. He also had indirect holdings, including 9,486 shares through a 401(k) plan and additional shares in family-related trusts, while specifically disclaiming beneficial ownership of shares held by his spouse’s trust.

What stock options did Pate R. Hewitt exercise in Chevron (CVX)?

He exercised 47,200 non-qualified stock options for Chevron common stock at an exercise price of $113.01 per share. A footnote notes the option was granted on January 30, 2019, with vesting in three equal installments in 2020, 2021, and 2022.

Did Pate R. Hewitt acquire additional Chevron (CVX) shares through a savings or 401(k) plan?

Yes. A footnote explains that between March 3 and March 6, 2026, he acquired 119 Chevron common shares under the Chevron Employee Savings Investment Plan, a 401(k) plan. His Form 4 also lists 9,486 shares held indirectly by this 401(k) plan after the transactions.