Valero (VLO) Director Receives 924 Stock Units on 09/18/2025

Rhea-AI Filing Summary

Robert L. Reymond, a director of Valero Energy Corp (VLO), was granted 924 stock units on 09/18/2025. Each stock unit represents a right to receive one share of common stock and the units are scheduled to vest one year from the grant date. The reported acquisition is recorded at a $0 price, indicating these were awarded stock units rather than a market purchase. The Form 4 was signed by an attorney-in-fact on behalf of Reymond on 09/22/2025.

Positive

• Equity award disclosed: 924 stock units granted to a director, increasing director stake in company
• Time-based vesting: Units vest one year from grant date, supporting retention alignment

Negative

• None.

Insights

Securities Analyst

TL;DR: Director received 924 stock units that vest in one year, a routine equity grant recorded at $0.

This Form 4 discloses a standard non-cash equity award to a board member rather than an open-market trade. The grant size (924 units) is modest in absolute terms for a public energy company and vests after one year, creating a time-based retention element. There is no indication of option exercise, disposition, or immediate dilution from conversion; the units convert to common shares when paid. For investors, this is a governance/compensation disclosure without direct operating or financial performance data.

Corporate Governance Specialist

TL;DR: A director-level equity award was recorded, consistent with routine compensation practices and retention scheduling.

The filing shows a non-derivative grant recorded under Form 4 with direct ownership following the grant. Vesting in one year suggests a standard retention/aligning mechanism used by boards. The transaction code and $0 price indicate an award rather than a purchase. No material governance concerns or unusual transactions are evident from the disclosure itself.

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^*

Reymond Robert L

(Last) (First) (Middle)

P.O. BOX 696000

(Street)

SAN ANTONIO TX 78269-6000

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
09/18/2025

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

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)	09/18/2025		A		924		(2)	(2)	Common Stock	924	$0	924	D

Explanation of Responses:

1. Each stock unit represents a right to receive one share of common stock.

2. The stock units are scheduled to vest in one year from date of the grant.

Remarks:

	/s/ Ethan A. Jones as Attorney-in-Fact for Robert L. Reymond	09/22/2025
	** 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.

FAQ

What did Robert L. Reymond file on Form 4 for VLO?

The Form 4 reports a grant of 924 stock units to Robert L. Reymond on 09/18/2025, recorded at $0 and vesting one year from the grant date.

How do the stock units reported on the VLO Form 4 convert to shares?

Each stock unit represents the right to receive one share of common stock when paid, per the filing.

When do the granted VLO stock units vest?

The stock units are scheduled to vest one year from the date of the grant (i.e., vesting on 09/18/2026).

Was the Form 4 transaction a purchase or a grant for VLO?

The transaction is reported with a $0 price and transaction code A, indicating an award/grant, not an open-market purchase.

Who signed the Form 4 for Robert L. Reymond?

The Form 4 is signed by Ethan A. Jones as Attorney-in-Fact for Robert L. Reymond on 09/22/2025.