Baldridge Don 4

What Happened
Don Baldridge, Executive Vice President of Phillips 66 (PSX), had 604 restricted stock units (RSU) shares withheld to satisfy tax withholding obligations in connection with RSUs that vested. The withholding was reported at an average price of $156.93 per share, for a total value of approximately $94,783. This action is a tax-withholding/cashless settlement of vested RSUs — a routine administrative transaction rather than an open-market sale or purchase.

Key Details

• Transaction date: 2026-02-07; Form 4 filed: 2026-02-09 (timely filing).
• Shares withheld: 604; price used: $156.93; total value ≈ $94,783. Price is the average of the high and low on Feb 6, 2026. (Footnote F2)
• Reason: Shares withheld to satisfy tax withholding on RSU vesting from grant dated April 1, 2023. (Footnote F1)
• Additional note: Filing references 23,798 RSUs that settle 1-for-1 into common shares. (Footnote F3)
• Shares owned after transaction: Not specified in the provided excerpt of the filing.

Context

• Code F indicates shares were withheld to cover tax withholding obligations on vested awards — common and administrative. This is not an open-market sale signal about the insider’s view of the company.
• For retail investors: purchases and open-market insider buys often carry more interpretive weight; tax withholding on RSU vesting is routine compensation-related activity.