Chevron (CVX) executive reports option exercises and 14,044-share sale
Rhea-AI Filing Summary
Chevron Corp executive Jeff B. Gustavson, President, New Energies, reported a series of option exercises and related stock transactions on August 11, 2026. Non-qualified stock options covering 14,044 shares of common stock were exercised at strike prices of $117.24, $125.35 and $113.01, originally granted between 2017 and 2019. The same total of 14,044 common shares was sold at a weighted-average price of $194.9492, executed in multiple trades within a narrow price range. For the common stock transactions, the reporting person states that he does not have a pecuniary interest and disclaims beneficial ownership of the shares, and he likewise disclaims beneficial ownership of all shares underlying the exercised options. An additional 3 shares are reported as held indirectly through a 401(k) plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
Exercise and Sale: 14,044 shares ($1.07M approx. pre-tax spread)
Exercise and Sale
8 txns
Insider
GUSTAVSON JEFF B
Role
President, New Energies
Sold
14,044 shs ($2.74M)
Approx. gross sale proceeds
$2.74M
Approx. exercise cost
$1.66M
Approx. pre-tax spread
$1.07M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Non-Qualified Stock Option (Right to Buy) F4 | 4,850 | $0.00 | $0.00 |
| Exercise | Non-Qualified Stock Option (Right to Buy) F5, F6 | 4,633 | $0.00 | $0.00 |
| Exercise | Non-Qualified Stock Option (Right to Buy) F7, F6 | 4,561 | $0.00 | $0.00 |
| Exercise | Common Stock F1, F2 | 4,850 | $117.24 | $569K |
| Exercise | Common Stock F1 | 4,633 | $125.35 | $581K |
| Exercise | Common Stock F1 | 4,561 | $113.01 | $515K |
| Sale | Common Stock F1, F3 | 14,044 | $194.9492 | $2.74M |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Non-Qualified Stock Option (Right to Buy) — 8,839 shares (Direct);
Common Stock — 3,786 shares (Direct);
Common Stock — 3 shares (Indirect, By 401(k) plan)
Footnotes (7)
- F1. The reporting person does not have a pecuniary interest and disclaims beneficial ownership of these shares. These shares have been omitted from the total reported in Column 5.
- F2. This number includes the acquisition of stock resulting from the reinvestment of dividends on vested restricted stock units (70) issued under the Chevron Corporation 2022 Long-Term Incentive Plan.
- F3. This transaction was executed in multiple trades at prices ranging from $194.89 to $195.02. 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 range provided.
- F4. Option granted 1/25/2017. One-third of the shares subject to the option vested on January 31, 2018, January 31, 2019 and January 31, 2020, respectively.
- F5. 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.
- F6. The reporting person disclaims beneficial ownership of all shares underlying these securities. Such disclaimed amounts were inadvertently underreported in the reporting person's Form 3.
- F7. 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.
Key Figures
Shares sold: 14,044 shares
Weighted-average sale price: $194.9492 per share
Option strike price 1: $117.24 per share
+3 more
6 metrics
Shares sold
14,044 shares
Common stock sold on August 11, 2026
Weighted-average sale price
$194.9492 per share
Sale of 14,044 Chevron common shares in multiple trades
Option strike price 1
$117.24 per share
Non-qualified stock option covering 4,850 shares granted 1/25/2017
Option strike price 2
$125.35 per share
Non-qualified stock option covering 4,633 shares granted 1/31/2018
Option strike price 3
$113.01 per share
Non-qualified stock option covering 4,561 shares granted 1/30/2019
Indirect 401(k) holding
3 shares
Chevron common stock held indirectly by 401(k) plan
Key Terms
Non-Qualified Stock Option (Right to Buy), weighted-average sale price, pecuniary interest, beneficial ownership, +1 more
5 terms
Non-Qualified Stock Option (Right to Buy) financial
"security_title is Non-Qualified Stock Option (Right to Buy) for several rows"
weighted-average sale price financial
"The price reported in Column 4 reflects the weighted-average sale price."
pecuniary interest financial
"The reporting person does not have a pecuniary interest and disclaims beneficial ownership"
beneficial ownership financial
"The reporting person disclaims beneficial ownership of all shares underlying these securities."
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
long-term incentive plan financial
"issued under the Chevron Corporation 2022 Long-Term Incentive Plan."
A long-term incentive plan is a company program that pays executives or employees with stock, options, or cash tied to multi-year performance goals, where the rewards become theirs only after meeting conditions over time. Think of it as a delayed bonus or retirement-style reward that aligns employees’ interests with shareholders by encouraging them to boost long-term value; investors watch these plans because they affect pay costs, share dilution and management incentives.
FAQ
What did Chevron (CVX) executive Jeff B. Gustavson report in this Form 4?
Jeff B. Gustavson reported exercising non-qualified stock options for 14,044 Chevron shares and a corresponding sale of 14,044 common shares on August 11, 2026. He disclaims pecuniary interest and beneficial ownership in the reported common shares and the underlying options.
What option strike prices are disclosed in this Chevron (CVX) Form 4?
The filing shows non-qualified stock options exercised for 4,850 shares at $117.24, 4,633 shares at $125.35, and 4,561 shares at $113.01 per share. These options were originally granted in 2017, 2018, and 2019 with vesting in subsequent years.
Were the Chevron (CVX) trades under a Rule 10b5-1 trading plan?
The Rule 10b5-1 checkbox is not marked as affirming a trading plan for these transactions. The footnotes do not state that the reported option exercises and stock sales occurred under a pre-arranged Rule 10b5-1 trading plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
