Hrap Heather G. 4

What Happened

• Heather G. Hrap, Senior Vice President at ConocoPhillips, exercised/converted 4,260 derivative stock units on Feb 14, 2026. To cover tax withholding, 1,481 shares were surrendered at $111.23 per share, totaling about $164,732. The exercise/conversion resulted in issuance of shares while the withholding was handled via share surrender rather than a cash payment.

Key Details

• Transaction date: 2026-02-14; Form 4 filed: 2026-02-18 (filing appears timely).
• Primary codes reported: M (exercise/conversion of derivative) and F (tax withholding/share surrender).
• Shares exercised/converted: 4,260 units; shares withheld for taxes: 1,481 shares @ $111.23 = $164,732.
• Shares owned after the transaction: not specified in the provided excerpt of the filing.
• Footnotes of note:
  • Units include dividend equivalents and are economic equivalents of common shares settled 1-for-1 (F1–F4).
  • Some units were acquired through routine dividend or qualified plan exemptions (F3).
  • The award grant generally settles 3 years from the grant date and is subject to vesting/termination conditions (F5).

Context

• This was a conversion/exercise with share-withholding for taxes (a common, routine way to satisfy tax obligations), not an open-market sale or an outright cash purchase. For retail investors, exercises followed by share withholding usually reflect tax compliance rather than a direct bullish or bearish trade signal.