HESS JOHN B 4

What Happened
John B. Hess, a director of Chevron Corporation (CVX), sold a total of 195,000 CVX shares in open-market transactions on May 6, 2026. The sales were reported in three blocks: 28,031 shares at a weighted-average price of $183.90 ($5.15M), 88,921 shares at $184.67 ($16.42M), and 78,048 shares at $185.21 ($14.46M), for combined gross proceeds of about $36.03 million. These were sales (S) — a disposition of shares rather than a purchase or option exercise.

Key Details

• Transaction date: 2026-05-06; Form 4 filed 2026-05-08 (timely within usual 2-business-day reporting window).
• Total shares sold: 195,000; total proceeds ≈ $36,031,524.
• Reported weighted-average prices by block: $183.90, $184.67, $185.21. The filing notes the shares were sold in multiple transactions across price ranges roughly $183.14 to $185.60.
• Holdings structure: many shares are held in trusts, limited partnerships, or LLCs of which Hess is beneficiary/partner/manager (see footnotes F2, F6–F9).
• Dividend-equivalent accruals: filing notes 26 stock units from dividend equivalents were acquired under the non-employee directors’ plan (footnote F5).
• Exhibit included: Exhibit 24 (Power of Attorney). No 10b5‑1 plan or late filing was indicated in this report.

Context
Sales by directors are common and can reflect portfolio rebalancing, tax planning, or diversification; they do not by themselves indicate company performance. This filing documents outright open-market sales (code S), not option exercises, gifts, or awards.