Pate R. Hewitt 4

4 · CHEVRON CORP · Filed Mar 10, 2026

AI-generated summary of this filing

Updated Mar 10, 2026

Chevron CLO Pate Hewitt Exercises Options, Sells Shares

What Happened

Pate R. Hewitt, Chief Legal Officer of Chevron (CVX), exercised options for 47,200 shares and then sold those 47,200 shares on March 6, 2026. The exercise cost was $113.01 per share (total $5,334,072). The shares were sold at $192.12 per share for total proceeds of $9,068,064 — implying gross proceeds minus exercise cost of about $3,733,992 before taxes/fees.
The transactions were sales (dispositions) following an option exercise, so this was a liquidity event rather than a purchase (not a direct bullish purchase signal).

Key Details

Transaction date: March 6, 2026.
Exercise (code M): 47,200 shares at $113.01 each; total exercise cost $5,334,072.
Sale (code S): 47,200 shares at $192.12 each; total proceeds $9,068,064.
Additional derivative line shows 47,200 shares disposed at $0.00, reflecting the exercised options converted and sold.
Shares owned after transaction: Not specified in the excerpt of this filing.
Footnotes of note:
- F1: Sales were effected under a Rule 10b5-1 trading plan adopted Nov 26, 2025 (prearranged plan).
- F2: Hewitt acquired 119 shares under Chevron’s 401(k) plan between Mar 3–6, 2026.
- F3: He disclaims beneficial ownership of shares held in his spouse’s trust.
- F4: Option was originally granted 01/30/2019 with vesting over 2020–2022.
Filing timeliness: Form 4 was filed on March 10, 2026 for a March 6 transaction, which is within the typical 2-business-day reporting window (timely).

Context

This was an option exercise followed by an immediate or same‑day sale (a common cashless or sell-to-cover pattern). The sale was executed under a 10b5-1 plan, meaning it was prearranged rather than an ad hoc sale. Such transactions are often routine liquidity actions and do not necessarily indicate a change in the insider’s view of the company.

Form 4

Period: 2026-03-06

Chief Legal Officer

Transactions

Exercise/Conversion
Common Stock
[F1]
2026-03-06$113.01/sh+47,200$5,334,072→ 55,758 total
Sale
Common Stock
[F1]
2026-03-06$192.12/sh−47,200$9,068,064→ 8,558 total
Exercise/Conversion
Non-Qualified Stock Option (Right to Buy)
[F4]
2026-03-06−47,200→ 0 total
Exercise: $113.01Exp: 2029-01-30→ Common Stock (47,200 underlying)

Holdings

Footnotes (4)

[F1]The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 26, 2025.
[F2]Between March 3, 2026 and March 6, 2026, the reporting person acquired 119 shares of Chevron common stock under the Chevron Employee Savings Investment Plan, a 401(k) plan.
[F3]The reporting person disclaims beneficial ownership of the shares held by his spouse's trust, and this report should not be deemed an admission that the reporting person is the beneficial owner of the shares held by his spouse's trust for purposes of Section 16 or for any other purpose.
[F4]Option granted 1/30/2019. One-third of the shares subject to the option vested on January 31, 2020, January 31, 2021 and January 31, 2022, respectively.

Signature

/s/ Rose Z. Pierson, Attorney-in-Fact for R. Hewitt Pate|2026-03-10

1 file