[Form 3] VALERO ENERGY CORP/TX Initial Statement of Beneficial Ownership

Rhea-AI Filing Summary

Valero Energy executive Harminder S. Bhullar, the company’s SVP & CFO, reported his initial ownership of company securities as of January 1, 2026. He directly holds 21,512 shares of Valero common stock. In addition, he beneficially owns several grants of performance share awards that can settle in Valero common stock.

These performance awards include 1,056 performance shares granted in 2023, 2,146 performance shares granted in 2024, and 4,030 performance shares granted in 2025. Each grant vests in three annual installments beginning in the January following the grant year and is payable in shares of common stock in an amount that can range from zero to 200% of the stated performance share amount, depending on performance under the applicable agreements.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Bhullar Harminder S.

Role SVP & CFO

Type	Security	Shares	Price	Value
holding	Performance Shares	--	--	--
holding	Performance Shares	--	--	--
holding	Performance Shares	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Performance Shares — 7,232 shares (Direct); Common Stock — 21,512 shares (Direct)

Footnotes (3)

1. F1. Performance Shares granted in 2023, vesting annually in one-third increments beginning in January 2024, payable in shares of common stock ranging from zero to 200 percent of the Performance Shares pursuant to a Performance Share Agreement.
2. F2. Performance Shares granted in 2024, vesting annually in one-third increments beginning in January 2025, payable in shares of common stock ranging from zero to 200 percent of the Performance Shares pursuant to a Performance Share Agreement.
3. F3. Performance Shares granted in 2025, vesting annually in one-third increments beginning in January 2026, payable in shares of common stock ranging from zero to 200 percent of the Performance Shares pursuant to a Performance Share Agreement.

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Accepted by SEC EDGAR 01/09/2026 - 04:05 PM Learn about SEC filing dates

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Bhullar Harminder S.

(Last) (First) (Middle)

P.O BOX 696000

(Street)

SAN ANTONIO TX 78269-6000

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
01/01/2026

3. Issuer Name and Ticker or Trading Symbol
VALERO ENERGY CORP/TX [ VLO ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP & CFO

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	21,512	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Performance Shares	(1)	(1)	Common Stock	1,056	(1)	D
Performance Shares	(2)	(2)	Common Stock	2,146	(2)	D
Performance Shares	(3)	(3)	Common Stock	4,030	(3)	D

Explanation of Responses:

1. Performance Shares granted in 2023, vesting annually in one-third increments beginning in January 2024, payable in shares of common stock ranging from zero to 200 percent of the Performance Shares pursuant to a Performance Share Agreement.

2. Performance Shares granted in 2024, vesting annually in one-third increments beginning in January 2025, payable in shares of common stock ranging from zero to 200 percent of the Performance Shares pursuant to a Performance Share Agreement.

3. Performance Shares granted in 2025, vesting annually in one-third increments beginning in January 2026, payable in shares of common stock ranging from zero to 200 percent of the Performance Shares pursuant to a Performance Share Agreement.

Remarks:

	/s/ Ethan A. Jones as Attorney-in-Fact for Harminder S. Bhullar	01/09/2026
	** 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 5 (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.