Lance Ryan Michael 4

What Happened

• Lance Ryan Michael, Chairman and CEO of ConocoPhillips, converted/exercised derivative awards that resulted in 48,990 shares on 2026-02-14. To cover tax withholding associated with the settlement, 18,127 shares were surrendered at $111.23 per share for a total withholding of $2,016,266. The exercise/conversion shows a $0.00 exercise price, consistent with settlement of stock units or restricted stock-type awards rather than a cash purchase.

Key Details

• Transaction date: 2026-02-14; Form filed: 2026-02-18.
• Shares acquired via conversion/exercise: 48,990.
• Shares withheld for taxes (disposed): 18,127 at $111.23 each = $2,016,266.
• Net shares retained from this settlement: 30,863 (48,990 acquired minus 18,127 withheld).
• Exercise/derivative entries reported with $0.00 exercise price — indicates settlement of award units rather than a cash option exercise.
• Relevant footnotes: units include dividend equivalents (F1); each stock unit settled 1-for-1 in common stock (F2, F5); award units may have multi-year settlement/vesting conditions (F6); some units/transactions reflect routine dividend or qualified-plan exemptions (F4). Footnote F3 notes a separate transfer of 319,000 shares to the Lance Family Trust (disclosed in the filing).
• Shares owned after the transaction are not specified in the provided summary of the filing.

Context

• This was a non‑market purchase event: the filing documents conversion/settlement of award units and a share‑withholding to cover taxes (a common, administrative action). Such transactions do not necessarily indicate a buy or sell signal from the insider’s market view.