LUNDQUIST ANDREW D 4

What Happened
Andrew D. Lundquist, Senior Vice President of ConocoPhillips (COP), had 2,936 stock units/derivative awards convert into 2,936 shares on June 1, 2026. To satisfy tax withholding, 1,325 of those shares were withheld at $116.46 per share, totaling $154,310. This was a settlement of equity awards (not an open-market sale or purchase); net shares retained from the settlement were 1,611 shares (2,936 acquired minus 1,325 withheld).

Key Details

• Transaction date: June 1, 2026; Form 4 filed June 3, 2026 (covers the June 1 settlement).
• Converted/Acquired: 2,936 shares via exercise/conversion of derivative (M).
• Tax withholding (F): 1,325 shares withheld at $116.46 per share = $154,310.
• Reported disposition of the derivative instrument: 2,936 units were converted/settled (reported as a derivative disposition).
• Shares owned after transaction: Not reported on the provided filing — net shares retained from this settlement = 1,611.
• Footnotes: units include dividend equivalents (F1); each stock unit equals one share and is settled in shares (F2, F3); the award vests/settles in four equal installments on June 1 of 2026–2029 (F4).

Context
This was an equity award settlement (conversion of stock units/derivative awards) with shares withheld to cover tax obligations — a routine administrative transaction rather than an open-market sale or purchase. For retail investors, purchases are often interpreted as stronger signals than routine award settlements; this filing documents standard compensation settlement and tax withholding, not a disposition indicating a market sale.