Phillips 66 EVP exercises options, sells 33,300 shares
Phillips 66 Executive Vice President Brian Mandell reported a series of option exercises and related share sales.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
4
Rhea-AI Filing Summary
Phillips 66 Executive Vice President Brian Mandell reported a series of option exercises and related share sales. On August 10 and 11, 2026, he exercised employee stock options for a total of 33,300 shares of common stock at an exercise price of $74.70 per share, converting derivative awards into common shares. He then sold the same total of 33,300 common shares in market transactions at prices of $214.02 and $215.00 per share. A footnote states his reported holdings include 22,182 Restricted Stock Units that settle into Phillips 66 common stock on a 1-for-1 basis.
Insider Trade Summary
Exercise and Sale: 33,300 shares ($4.67M approx. pre-tax spread)
Exercise and Sale
6 txns
Insider
Mandell Brian
Role
Executive Vice President
Sold
33,300 shs ($7.16M)
Approx. gross sale proceeds
$7.16M
Approx. exercise cost
$2.49M
Approx. pre-tax spread
$4.67M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (Right to Buy) F2 | 30,000 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 30,000 | $74.70 | $2.24M |
| Sale | Common Stock F1 | 30,000 | $215.00 | $6.45M |
| Exercise | Employee Stock Option (Right to Buy) F2 | 3,300 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 3,300 | $74.70 | $247K |
| Sale | Common Stock F1 | 3,300 | $214.02 | $706K |
Holdings After Transaction:
Employee Stock Option (Right to Buy) — 23,400 contracts (Direct);
Common Stock — 61,594.9177 shares (Direct)
Footnotes (2)
- F1. Includes 22,182 Restricted Stock Units that settle for shares of Phillips 66 common stock on a 1-for-1 basis.
- F2. The options became exercisable in three equal annual installments beginning on February 9, 2022.
Key Figures
Shares sold: 33,300 shares
Sale prices: $214.02 and $215.00 per share
Option exercise price: $74.70 per share
+4 more
7 metrics
Shares sold
33,300 shares
Total Phillips 66 common shares sold by Brian Mandell on August 10–11, 2026
Sale prices
$214.02 and $215.00 per share
Per-share prices for common stock sales on August 10 and 11, 2026
Option exercise price
$74.70 per share
Exercise price of employee stock options converted into Phillips 66 common stock
Options exercised
33,300 shares
Total underlying shares from employee stock options exercised on August 10–11, 2026
Restricted Stock Units
22,182 units
RSUs that settle 1-for-1 into Phillips 66 common stock included in reported holdings
Option expiration date
February 9, 2031
Expiration date of the employee stock options exercised
Net buy/sell shares
-33,300 shares
Net result of reported buy/sell activity per transaction summary
Key Terms
Employee Stock Option, Restricted Stock Units, derivative security, Rule 10b5-1
4 terms
Employee Stock Option financial
"security_title: "Employee Stock Option (Right to Buy)""
An employee stock option is a promise that lets a worker buy company shares later at a predetermined price, often after they stay for a certain period or meet performance goals — think of it like a coupon that locks in today's price for a future purchase. It matters to investors because options align employees’ incentives with company performance, can increase the number of shares outstanding (dilution) when exercised, and represent a compensation cost that affects reported profits and shareholder value.
Restricted Stock Units financial
"Includes 22,182 Restricted Stock Units that settle for shares of Phillips 66"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
derivative security financial
"transaction_code_description: "Exercise or conversion of derivative security""
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
Rule 10b5-1 regulatory
"aff_10b5_one is the filing's document-level Rule 10b5-1 checkbox"
Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Phillips 66 (PSX) executive Brian Mandell report in this Form 4?
Brian Mandell reported exercising options for 33,300 shares of Phillips 66 common stock at $74.70 per share and then selling all 33,300 shares in market transactions over two days.
What options did Brian Mandell exercise in the Phillips 66 (PSX) filing?
He exercised employee stock options covering 33,300 shares of Phillips 66 common stock at an exercise price of $74.70 per share; the options were originally scheduled to expire on February 9, 2031.
Does Brian Mandell still have Phillips 66 (PSX) equity after these transactions?
The filing notes that his reported holdings include 22,182 Restricted Stock Units that settle into Phillips 66 common stock on a 1-for-1 basis, indicating ongoing equity exposure beyond the shares sold.
Were Brian Mandell’s Phillips 66 (PSX) transactions under a Rule 10b5-1 plan?
The filing’s checkbox for Rule 10b5-1 plans is not marked as affirmative, and there is no footnote describing a trading plan, so the transactions are not identified as pre-arranged plan trades.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Accepted by SEC EDGAR
Learn about SEC filing dates