Chevron (CVX) legal chief exercises options, sells 93,475 shares

Rhea-AI Filing Summary

Chevron Chief Legal Officer R. Hewitt Pate reported option exercises and related share sales in a pre-planned transaction. He exercised vested non-qualified stock options on February 27, 2026 and March 2, 2026, converting them into Chevron common stock.

On those dates, he then sold a total of 93,475 common shares in multiple open-market trades under a Rule 10b5-1 trading plan adopted on November 26, 2025, at weighted-average prices within ranges from $183.90 to $190.62 per share. After these transactions, he directly owned 8,558 Chevron shares, with additional indirect holdings through a 401(k) plan and family trusts, including a spouse’s trust for which he disclaims beneficial ownership.

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^*

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)
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)		35,475	A	$117.24	44,033	D
Common Stock	02/27/2026		S(1)		6,958	D	$184.29(2)	37,075	D
Common Stock	02/27/2026		S(1)		4,900	D	$185.6102(3)	32,175	D
Common Stock	02/27/2026		S(1)		21,237	D	$186.618(4)	10,938	D
Common Stock	02/27/2026		S(1)		2,380	D	$187.2175(5)	8,558	D
Common Stock	03/02/2026		M(1)		58,000	A	$110.37	66,558	D
Common Stock	03/02/2026		S(1)		29,260	D	$188.127(6)	37,298	D
Common Stock	03/02/2026		S(1)		23,757	D	$189.0507(7)	13,541	D
Common Stock	03/02/2026		S(1)		4,983	D	$189.8415(8)	8,558	D
Common Stock								9,367	I	By 401(k) plan
Common Stock								20	I	By Pate Family Trust
Common Stock								13,264	I	By Spouse Trust(9)

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)	$117.24	02/27/2026		M			35,475	(10)	01/25/2027	Common Stock	35,475	$0	0	D
Non-Qualified Stock Option (Right to Buy)	$110.37	03/02/2026		M			58,000	(11)	01/29/2030	Common Stock	58,000	$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. These shares were sold in multiple transactions at prices ranging from $183.90 to $184.85, 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 8 to this Form 4.

3. These shares were sold in multiple transactions at prices ranging from $185.05 to $186.04, 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 $186.05 to $187.02, 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 $187.06 to $187.46, 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 $187.63 to $188.59, inclusive. The price reported in Column 4 reflects the weighted average sale price.

7. These shares were sold in multiple transactions at prices ranging from $188.64 to $189.62, inclusive. The price reported in Column 4 reflects the weighted average sale price.

8. These shares were sold in multiple transactions at prices ranging from $189.68 to $190.62, inclusive. The price reported in Column 4 reflects the weighted average sale price.

9. 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.

10. 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.

11. Option granted 1/29/2020. One-third of the shares subject to the option vested on January 31, 2021, January 31, 2022 and January 31, 2023, respectively.

	/s/ Rose Z. Pierson, Attorney-in-Fact for R. Hewitt Pate	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

What did Chevron (CVX) Chief Legal Officer R. Hewitt Pate report in this Form 4?

R. Hewitt Pate reported exercising vested non-qualified stock options and selling Chevron common shares. The transactions occurred on February 27 and March 2, 2026, converting options into stock and then selling shares in the open market under a pre-arranged Rule 10b5-1 plan.

How many Chevron (CVX) shares did R. Hewitt Pate sell in these transactions?

He sold a total of 93,475 Chevron common shares in open-market transactions. The sales were split across several trades, each with weighted-average prices, and were executed pursuant to a Rule 10b5-1 trading plan adopted on November 26, 2025.

At what prices were the Chevron (CVX) shares sold by R. Hewitt Pate?

The shares were sold in multiple transactions at weighted-average prices within ranges from $183.90 to $190.62 per share. Each price reported reflects an average, with underlying individual trades occurring at various prices within the stated ranges.

What type of equity awards did R. Hewitt Pate exercise at Chevron (CVX)?

He exercised vested non-qualified stock options, which are rights to buy Chevron common stock at preset exercise prices. Options granted in 2017 and 2020 had previously vested in equal installments on January 31 of 2018–2020 and 2021–2023, respectively.

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

After these transactions, he directly owned 8,558 Chevron common shares. He also had indirect holdings through a 401(k) plan and family trusts, while specifically disclaiming beneficial ownership of shares held by his spouse’s trust as noted in the filing.

Was R. Hewitt Pate’s Chevron (CVX) stock sale part of a pre-planned program?

Yes. The filing states that the sales were effected under a Rule 10b5-1 trading plan. That plan was adopted on November 26, 2025, allowing scheduled trades to proceed automatically according to preset instructions regardless of subsequent market or company developments.