BONNER EIMEAR P 4

What Happened

• Eimear P. Bonner, Chevron’s Chief Financial Officer, exercised options and then sold the resulting shares. On Feb 27 and Mar 2, 2026 she exercised a total of 45,800 shares (18,800 @ $152.35; 9,600 @ $153.22; 17,400 @ $179.08) at a total exercise cost of $7,451,084. She sold 45,800 shares in multiple open‑market transactions that produced total proceeds of $8,600,515 (sales executed at weighted‑average prices ranging roughly from $184 to $191).

Key Details

• Transaction dates: Feb 27, 2026 and Mar 2, 2026.
• Exercises (M): 18,800 @ $152.35 ($2,864,180); 9,600 @ $153.22 ($1,470,912); 17,400 @ $179.08 ($3,115,992). Total exercise cost ≈ $7.45M.
• Sales (S): 5,500 @ $184.28; 2,500 @ $185.33; 18,100 @ $186.56; 2,300 @ $187.16; 17,400 @ $190.60. Total proceeds ≈ $8.60M. Several sales reported as weighted averages with per‑trade price ranges (see footnotes).
• Shares owned after the transactions: not specified in the provided filing details.
• Notable footnotes: sales were made pursuant to a Rule 10b5‑1 trading plan adopted Nov 22, 2025 (F1). Multiple sale price ranges and weighted‑average prices are reported (F3–F6). Option grant and vesting details are included (grants dated 1/25/2023, 2/6/2024, 2/4/2025 with staged vesting — F7–F9).
• Timeliness: Form 4 was filed on Mar 3, 2026 for transactions on Feb 27 and Mar 2, 2026; the filing appears to be timely under the SEC two‑business‑day rule.

Context

• These were option exercises (derivative code M) followed by immediate open‑market sales. The filing shows the exercise (acquisition) lines and separate sale lines; some derivative reporting lines list $0.00 as the disposition amount — that reflects the reporting format for option conversion rather than a cash sale. The reported sales were executed under a prearranged 10b5‑1 plan, which typically indicates scheduled transactions rather than ad‑hoc trades.
• Facts only — this record shows both an exercise (acquiring shares via option exercise) and substantial sales of those shares; it does not, by itself, indicate management’s view of Chevron’s near‑term prospects.