Chevron (CVX) legal chief exercises options, sells 93,475 shares
Filing Impact
Filing Sentiment
Form Type
4
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.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 93,475 shares ($17,542,418)
Net Sell
14 txns
Insider
Pate R. Hewitt
Role
Chief Legal Officer
Sold
93,475 shs ($17.54M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Non-Qualified Stock Option (Right to Buy) | 58,000 | $0.00 | -- |
| Exercise | Common Stock | 58,000 | $110.37 | $6.40M |
| Sale | Common Stock | 29,260 | $188.127 | $5.50M |
| Sale | Common Stock | 23,757 | $189.0507 | $4.49M |
| Sale | Common Stock | 4,983 | $189.8415 | $946K |
| Exercise | Non-Qualified Stock Option (Right to Buy) | 35,475 | $0.00 | -- |
| Exercise | Common Stock | 35,475 | $117.24 | $4.16M |
| Sale | Common Stock | 6,958 | $184.29 | $1.28M |
| Sale | Common Stock | 4,900 | $185.6102 | $909K |
| Sale | Common Stock | 21,237 | $186.618 | $3.96M |
| Sale | Common Stock | 2,380 | $187.2175 | $446K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Non-Qualified Stock Option (Right to Buy) — 0 shares (Direct);
Common Stock — 66,558 shares (Direct);
Common Stock — 9,367 shares (Indirect, By 401(k) plan)
Footnotes (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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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.
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.
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.
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.