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Chevron (CVX) New Energies president details stock, RSU activity

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Chevron Corporation’s President, New Energies, Jeff B. Gustavson reported routine equity transactions involving Chevron common stock and restricted stock units on December 17, 2025.

He exercised restricted stock units into 22 and 24 shares of common stock at an exercise price of $0, and Chevron withheld 22 and 24 shares at a price of $149.52 per share to satisfy tax obligations. Following these transactions, he directly owned 1,694 shares of common stock and held an additional 3 shares indirectly through a 401(k) plan.

In the derivative table, Gustavson reported activity in restricted stock units granted in 2021 and 2022, with 2,943 and 3,223 restricted stock units remaining, respectively. These awards include dividend equivalents and are payable in cash upon vesting in 2026 and 2027.

Positive

  • None.

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Insider GUSTAVSON JEFF B
Role President, New Energies
Type Security Shares Price Value
Exercise Restricted Stock Units 22 $0.00 --
Exercise Restricted Stock Units 24 $0.00 --
Exercise Common Stock 22 $0.00 --
Tax Withholding Common Stock 22 $149.52 $3K
Exercise Common Stock 24 $0.00 --
Tax Withholding Common Stock 24 $149.52 $4K
holding Common Stock -- -- --
Holdings After Transaction: Restricted Stock Units — 2,943 shares (Direct); Common Stock — 1,716 shares (Direct); Common Stock — 3 shares (Indirect, By 401(k) plan)
Footnotes (1)
  1. This number includes the acquisition of stock resulting from the reinvestment of dividends on vested restricted stock units (19) issued under the Chevron Corporation 2022 Long-Term Incentive Plan. Reflects withholding of shares to cover required tax obligations under the terms of the award agreement due to the reporting person's age and years of service. Restricted stock units granted on January 27, 2021 under the Chevron Corporation Long-Term Incentive Plan. Each restricted stock unit is the economic equivalent of one share of Chevron Corporation common stock. Restricted stock units accrue dividend equivalents in the form of additional restricted stock units and are payable in cash upon vesting on January 31, 2026. This number includes dividend equivalents (129 shares). Restricted stock units granted on January 26, 2022 under the Chevron Corporation Long-Term Incentive Plan. Each restricted stock unit is the economic equivalent of one share of Chevron Corporation common stock. Restricted stock units accrue dividend equivalents in the form of additional restricted stock units and are payable in cash upon vesting on January 31, 2027. This number includes dividend equivalents (142 shares).
Form 4 Insider Transactions: What Each Field Means →
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).
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*
GUSTAVSON JEFF B
(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)
President, New Energies
3. Date of Earliest Transaction (Month/Day/Year)
12/17/2025
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 12/17/2025 M 22 A $0 1,716(1) D
Common Stock 12/17/2025 F(2) 22 D $149.52 1,694 D
Common Stock 12/17/2025 M 24 A $0 1,718 D
Common Stock 12/17/2025 F(2) 24 D $149.52 1,694 D
Common Stock 3 I By 401(k) plan
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
Restricted Stock Units (3) 12/17/2025 M 22 (3) (3) Common Stock 22 $0 2,943(4) D
Restricted Stock Units (5) 12/17/2025 M 24 (5) (5) Common Stock 24 $0 3,223(6) D
Explanation of Responses:
1. This number includes the acquisition of stock resulting from the reinvestment of dividends on vested restricted stock units (19) issued under the Chevron Corporation 2022 Long-Term Incentive Plan.
2. Reflects withholding of shares to cover required tax obligations under the terms of the award agreement due to the reporting person's age and years of service.
3. Restricted stock units granted on January 27, 2021 under the Chevron Corporation Long-Term Incentive Plan. Each restricted stock unit is the economic equivalent of one share of Chevron Corporation common stock. Restricted stock units accrue dividend equivalents in the form of additional restricted stock units and are payable in cash upon vesting on January 31, 2026.
4. This number includes dividend equivalents (129 shares).
5. Restricted stock units granted on January 26, 2022 under the Chevron Corporation Long-Term Incentive Plan. Each restricted stock unit is the economic equivalent of one share of Chevron Corporation common stock. Restricted stock units accrue dividend equivalents in the form of additional restricted stock units and are payable in cash upon vesting on January 31, 2027.
6. This number includes dividend equivalents (142 shares).
/s/ Rose Z. Pierson, Attorney-in-Fact for Jeff B. Gustavson 12/19/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Chevron (CVX) report for Jeff B. Gustavson?

Chevron reported that Jeff B. Gustavson, President, New Energies, exercised restricted stock units into 22 and 24 shares of common stock on December 17, 2025, with some shares withheld to cover taxes.

How many Chevron (CVX) shares does Jeff B. Gustavson own after this Form 4?

After the reported transactions, Jeff B. Gustavson directly owned 1,694 shares of Chevron common stock and indirectly held 3 shares through a 401(k) plan.

What prices were used in Jeff B. Gustavson’s Chevron (CVX) stock transactions?

The restricted stock units were exercised at an exercise price of $0, and Chevron withheld shares to cover taxes at a price of $149.52 per share.

What restricted stock units are reported for Jeff B. Gustavson at Chevron (CVX)?

He reported restricted stock units from grants in 2021 and 2022, with 2,943 and 3,223 units remaining, respectively. Each unit is the economic equivalent of one share of Chevron common stock.

When do Jeff B. Gustavson’s Chevron (CVX) restricted stock units vest and pay out?

Certain restricted stock units granted on January 27, 2021 are payable in cash upon vesting on January 31, 2026, and units granted on January 26, 2022 are payable in cash upon vesting on January 31, 2027.

Do Jeff B. Gustavson’s Chevron (CVX) restricted stock units earn dividend equivalents?

Yes. The filing states that these restricted stock units accrue dividend equivalents in the form of additional restricted stock units, which are included in the reported unit totals.