Fisher Eric A 4

What Happened

• Eric A. Fisher, Senior Vice President at Valero Energy (VLO), received an award of 5,990 restricted shares on 2026-02-25. To cover tax withholding related to the award, 2,358 shares were surrendered/disposed at $198.03 per share, generating $466,943 in value. The grant is reported as restricted stock (time-vesting) and a related performance-based award.

Key Details

• Transaction date: 2026-02-25; Filing date: 2026-02-27 (filed within the normal two-business-day Form 4 window).
• Award: 5,990 shares granted (code A); restricted common stock subject to time vesting (footnote F1).
• Tax withholding/disposition: 2,358 shares disposed at $198.03 per share for $466,943 (code F — payment of tax liability).
• Derivative/performance note: The filing references performance shares that vest annually in one-third increments beginning in 2027 and may pay out 0–200% of the performance target (footnote F3).
• Shares reported after transaction: filing indicates 50,553 shares beneficially owned (this number does not include 1,083.877 shares held indirectly in a thrift plan per footnote F2).

Context

• This appears to be a routine restricted stock award with shares withheld to cover taxes (a common administrative step), not an open-market sale or a directional purchase. The performance-share component means some award value depends on future performance and vesting schedules.