Phillips 66 (PSX) CFO’s ex-spouse directs 30,000-share sale after option exercises
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Phillips 66 Executive VP and CFO Kevin J. Mitchell reported option exercises and share sales that were carried out under a domestic relations order. On May 8 and 11, 2026, 30,000 employee stock options were exercised at prices of about $94.85–$94.97 per share, and 30,000 shares of common stock were sold in open-market transactions at weighted average prices around $170.00–$171.56. A footnote explains that both the option exercises and the sales were made solely at the direction of his ex-spouse, who will retain the after-tax sale proceeds. After these transactions, he holds 97,376 Phillips 66 shares directly, plus 31,849 Restricted Stock Units that settle 1-for-1 in common stock, and 1,300.777 shares indirectly through the COP Savings Plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 30,000 shares ($5,101,083)
Net Sell
9 txns
Insider
Mitchell Kevin J
Role
Exec. VP and CFO
Sold
30,000 shs ($5.10M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (Right to Buy) | 600 | $0.00 | -- |
| Exercise | Common Stock | 600 | $94.9675 | $57K |
| Sale | Common Stock | 600 | $171.56 | $103K |
| Exercise | Employee Stock Option (Right to Buy) | 5,400 | $0.00 | -- |
| Exercise | Employee Stock Option (Right to Buy) | 24,000 | $0.00 | -- |
| Exercise | Common Stock | 5,400 | $94.85 | $512K |
| Exercise | Common Stock | 24,000 | $94.9675 | $2.28M |
| Sale | Common Stock | 29,400 | $170.005 | $5.00M |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Employee Stock Option (Right to Buy) — 13,071 shares (Direct, null);
Common Stock — 97,976 shares (Direct, null);
Common Stock — 1,300.777 shares (Indirect, COP Savings Plan)
Footnotes (1)
- The exercise of stock options and sale of shares acquired upon exercise were made solely at the direction of the reporting person's ex-spouse pursuant to a domestic relations order. The reporting person's ex-spouse will retain the after-tax proceeds from the sales. Includes 31,849 Restricted Stock Units that settle for shares of Phillips 66 common stock on a 1-for-1 basis. The price reported above is a weighted average price. These shares were sold in multiple transactions at prices ranging from $170.00 to $170.095. 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 and prices at which the transaction was effected. The stock options became exercisable in three equal annual installments beginning February 6, 2019. The stock options became exercisable in three equal annual installments beginning February 5, 2020.
Key Figures
Shares sold: 30,000 shares
Sale prices: $170.005 and $171.56 per share
Options exercised: 30,000 options
+4 more
7 metrics
Shares sold
30,000 shares
Common stock sales at ~$170.00–$171.56 per share
Sale prices
$170.005 and $171.56 per share
Weighted average prices for open-market sales
Options exercised
30,000 options
Employee stock options converted to common stock
Exercise prices
$94.8500 and $94.9675 per share
Conversion prices of exercised employee stock options
Direct holdings after transactions
97,376 shares
Direct Phillips 66 common stock owned post-transaction
Restricted Stock Units
31,849 RSUs
RSUs settling 1-for-1 in Phillips 66 common stock
Indirect plan holdings
1,300.777 shares
Held through COP Savings Plan
Key Terms
domestic relations order, Restricted Stock Units, weighted average price, Employee Stock Option (Right to Buy), +1 more
5 terms
domestic relations order financial
"made solely at the direction of the reporting person's ex-spouse pursuant to a domestic relations order"
Restricted Stock Units financial
"Includes 31,849 Restricted Stock Units that settle for shares of Phillips 66 common stock"
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.
weighted average price financial
"The price reported above is a weighted average price. These shares were sold in multiple transactions"
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
Employee Stock Option (Right to Buy) financial
"Employee Stock Option (Right to Buy)"
COP Savings Plan financial
"Common Stock ... indirect ... nature_of_ownership: COP Savings Plan"
FAQ
What insider transactions did Phillips 66 (PSX) report for Kevin J. Mitchell?
Phillips 66 reported that Kevin J. Mitchell had 30,000 employee stock options exercised and 30,000 common shares sold in open-market trades. These actions were linked, with options converted into stock and then sold as part of the same overall sequence.
What option exercise prices applied in the Phillips 66 (PSX) Form 4 for Kevin J. Mitchell?
The employee stock options exercised had conversion prices of $94.8500 and $94.9675 per share. These options were previously granted awards that became exercisable in three equal annual installments starting in February 2019 and February 2020, according to the footnotes.
Did the ex-spouse or Kevin J. Mitchell receive the proceeds from the Phillips 66 (PSX) stock sales?
The filing specifies that Kevin J. Mitchell’s ex-spouse will retain the after-tax proceeds from the stock sales. The trades, including option exercises and resulting share sales, were executed solely at the ex-spouse’s direction pursuant to a domestic relations order.