Director at Valero Energy (NYSE: VLO) receives 1,381 shares via award

Rhea-AI Filing Summary

Valero Energy director Eric D. Mullins increased his holdings through equity compensation. On May 6, 2026, he exercised 1,381 Stock Units into an equal number of Common Stock shares received under a Stock Unit Award Agreement, a compensation-related derivative exercise rather than an open-market trade.

After this transaction, Mullins directly owns 11,671 shares of Valero Energy common stock, and the underlying stock units from this award are fully settled with no remaining derivative position shown in the filing.

Insider Trade Summary

1,381 shares exercised/converted

Mixed 2 txns

Insider Mullins Eric D.

Role null

Type	Security	Shares	Price	Value
Exercise	Stock Units	1,381	$0.00	--
Exercise	Common Stock	1,381	$0.00	--

Holdings After Transaction: Stock Units — 0 shares (Direct, null); Common Stock — 11,671 shares (Direct, null)

Footnotes (1)

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Key Figures

Stock Units exercised: 1,381 units Common shares received: 1,381 shares Shares owned after transaction: 11,671 shares +1 more

4 metrics

Stock Units exercised 1,381 units Converted to common stock on May 6, 2026

Common shares received 1,381 shares Issued upon Stock Unit exercise

Shares owned after transaction 11,671 shares Director’s direct Valero Energy holdings post-exercise

Exercise price per unit $0.00 Conversion of Stock Units into common stock

Key Terms

Stock Units, Stock Unit Award Agreement, derivative security

3 terms

Stock Units financial

"Shares reporting person received per Stock Unit Award Agreement."

Stock units are individual pieces of ownership in a company, like slices of a pie that together make up the whole business. They matter to investors because each unit represents a claim on the company’s assets, profits and sometimes voting power, and changes in the number or value of these units affect ownership percentages, potential dividends and share dilution — all of which influence an investment’s worth.

Stock Unit Award Agreement financial

"Shares reporting person received per Stock Unit Award Agreement."

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.

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^*

Mullins Eric D.

(Last) (First) (Middle)

P.O. BOX 696000

(Street)

SAN ANTONIO TEXAS 78269-6000

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/06/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	05/06/2026		M		1,381	A	(1)	11,671	D

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
Stock Units	(1)	05/06/2026		M			1,381	05/06/2026	05/06/2026	Common Stock	1,381	(1)	0	D

Explanation of Responses:

1. Shares reporting person received per Stock Unit Award Agreement.

Remarks:

	/s/ Ethan A. Jones, as Attorney-in-Fact for Eric D. Mullins	05/07/2026
	** 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 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Valero Energy (VLO) report for Eric D. Mullins?

Eric D. Mullins exercised 1,381 Stock Units into 1,381 shares of Valero Energy common stock. The shares were received under a Stock Unit Award Agreement, reflecting equity compensation rather than an open-market purchase or sale.

Did the Valero Energy (VLO) director buy or sell shares on the open market?

No, the filing shows a compensation-related derivative exercise, not an open-market trade. Mullins converted 1,381 Stock Units into 1,381 common shares at a stated price of $0.00, consistent with stock-based awards vesting.

How many Valero Energy (VLO) shares does Eric D. Mullins own after this transaction?

After the transaction, Mullins directly holds 11,671 shares of Valero Energy common stock. This reflects the addition of 1,381 shares received upon exercising Stock Units granted under an equity award agreement.

What do the 1,381 Stock Units in the Valero Energy (VLO) filing represent?

The 1,381 Stock Units represent deferred equity awarded under a Stock Unit Award Agreement. On May 6, 2026, those units were converted into an equivalent number of Valero Energy common shares as part of Mullins’ director compensation.

Are any derivative positions remaining for the Valero Energy (VLO) director after this exercise?

The filing shows no remaining derivative position related to these Stock Units. The Stock Units balance went to zero after 1,381 units were converted into 1,381 common shares on May 6, 2026.