LUNDQUIST ANDREW D 4

What Happened

• Andrew D. Lundquist, Senior Vice President of ConocoPhillips (COP), exercised 34,500 stock options at an exercise price of $49.76 and the same 34,500 shares were sold in an open-market transaction the same day. The exercise cost was $1,716,548 and the sale generated proceeds of $4,128,960. The filing also shows a derivative disposal entry at $0 reflecting conversion of the derivative into shares.

Key Details

• Transaction date: 2026-03-13; Form 4 filed: 2026-03-16 (filed within the two-business-day reporting window)
• Exercise: 34,500 shares at $49.76 per share — total exercise cost $1,716,548 (Transaction code M)
• Sale: 34,500 shares at $119.68 per share — total proceeds $4,128,960 (Transaction code S)
• Derivative conversion: 34,500 shares reported as disposed at $0 (reflects the option-to-share conversion)
• Shares owned after transaction: not specified in the filing
• No 10b5-1 plan, tax-withholding, or other footnotes were disclosed in the submitted Form 4

Context

• This was an option exercise followed by an immediate open-market sale (a cashless exercise pattern): the options were converted into shares and those shares were sold the same day. Such transactions are common for executives exercising compensatory options and do not, by themselves, indicate a change in view about the company’s prospects.