Chevron (NYSE: CVX) CLO logs 10b5-1 stock sale, RSU vesting and new grant
Rhea-AI Filing Summary
Chevron’s Chief Legal Officer R. Hewitt Pate reported option exercises, stock sales, and equity awards. On January 30, 2026, he exercised 41,134 non-qualified stock options at $88.2 per share and sold 41,134 Chevron common shares at $176.4 per share under a Rule 10b5-1 trading plan.
On January 31, 2026, restricted stock units covering 10,088 and 2,231 shares (including dividend equivalents) converted into Chevron common stock at $0 exercise price. The filing shows a sale of 10,088 shares at $176.9 per share and a disposition of 826 shares to cover taxes at $176.9 per share.
On February 1, 2026, he received a new grant of 21,600 restricted stock units that will vest in three equal installments in 2027, 2028, and 2029. After these transactions, he directly held 5,574 Chevron shares, along with indirect holdings through a 401(k) plan, a family trust, and shares held by a spouse’s trust for which beneficial ownership is disclaimed.
Positive
- None.
Negative
- None.
Insights
Routine 10b5-1 sales, option exercise, and new RSU grant; overall a standard compensation-related update.
The filing shows R. Hewitt Pate, Chevron’s Chief Legal Officer, exercising 41,134 stock options at $88.2 and selling the same number of shares at $176.4 on January 30, 2026. Footnote F1 states these sales were made under a pre-established Rule 10b5-1 trading plan, indicating they were scheduled in advance.
On January 31, 2026, vested restricted stock units covering 10,088 and 2,231 shares converted into stock at $0 exercise price, with 10,088 shares sold at $176.9 and 826 shares withheld for taxes. Footnotes F6–F9 explain that these RSUs include dividend equivalents and vesting schedules under the 2022 Long-Term Incentive Plan.
The grant of 21,600 new RSUs on February 1, 2026 (F10) continues long-term equity incentives, vesting in three equal tranches in 2027, 2028, and 2029. Footnote F4 notes that Pate disclaims beneficial ownership of 13,264 shares held by a spouse’s trust, clarifying how some indirect holdings are treated for reporting purposes. Overall, the activity appears consistent with planned diversification and ongoing executive compensation, without a clear directional signal on company fundamentals.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units | 21,600 | $0.00 | -- |
| Exercise | Restricted Stock Units | 10,088 | $0.00 | -- |
| Exercise | Restricted Stock Units | 2,231 | $0.00 | -- |
| Exercise | Common Stock | 10,088 | $0.00 | -- |
| Disposition | Common Stock | 10,088 | $176.90 | $1.78M |
| Exercise | Common Stock | 2,231 | $0.00 | -- |
| Tax Withholding | Common Stock | 826 | $176.90 | $146K |
| Exercise | Non-Qualified Stock Option (Right to Buy) | 41,134 | $0.00 | -- |
| Exercise | Common Stock | 41,134 | $88.20 | $3.63M |
| Sale | Common Stock | 41,134 | $176.40 | $7.26M |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
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 February 24, 2025. Each restricted stock unit is the economic equivalent of one share of Chevron common stock. Between December 18, 2025 and February 1, 2026, the reporting person acquired 173 shares of Chevron common stock under the Chevron Employee Savings Investment Plan, a 401(k) plan. 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 1/27/2021. One-third of the shares subject to the option vested on January 31, 2022, January 31, 2023 and January 31, 2024, respectively. This number includes dividend equivalents (1,197 shares). Restricted stock units accrue dividend equivalents in the form of additional restricted stock units and are payable in cash and vested on January 31, 2026. This number includes dividend equivalents (97 shares). Restricted stock units granted on January 25, 2023 under the Chevron Corporation 2022 Long-Term Incentive Plan. Restricted stock units accrue dividend equivalents in the form of additional restricted stock units. One-third of the shares subject to the award vested on January 31, 2024, January 31, 2025 and January 31, 2026, respectively, and settled in shares of Chevron common stock on the date of vesting. Shares issued upon vesting are subject to a two-year post-vesting holding period, which is removed upon termination of employment. Restricted stock units granted under the Chevron Corporation 2022 Long-Term Incentive Plan. Restricted stock units accrue dividend equivalents in the form of additional restricted stock units. One-third of the shares subject to this award will vest on February 1, 2027, February 1, 2028 and February 1, 2029, respectively, and will settle in shares of Chevron common stock on the date of vesting. Shares issued upon vesting are subject to a two-year post-vesting holding period, which is removed upon termination of employment.
