Chevron (NYSE: CVX) director records 209 phantom stock units

Rhea-AI Filing Summary

Chevron director Marillyn A. Hewson reported a discretionary transaction involving 209 units of phantom stock at $185.83 per unit under the Chevron Non-Employee Directors' Equity Compensation and Deferral Plan. Following this change, she holds 6,131 phantom stock units, including 55 dividend equivalent accruals. These phantom stock units are payable in Chevron common stock on a 1-for-1 basis when her board service ends.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider HEWSON MARILLYN A

Role null

Type	Security	Shares	Price	Value
I	Phantom Stock	209	$185.83	$39K

Holdings After Transaction: Phantom Stock — 6,131 shares (Direct, null)

Footnotes (1)

1. The shares of phantom stock issued under the Chevron Non-Employee Directors' Equity Compensation and Deferral Plan become payable in common stock upon the reporting person's termination of service. 1-for-1. This number includes dividend equivalent accruals (55) under the Chevron Non-Employee Directors' Equity Compensation and Deferral Plan.

Key Figures

Phantom stock units transacted: 209 units Reference price per unit: $185.83 Total phantom stock after transaction: 6,131 units +2 more

5 metrics

Phantom stock units transacted 209 units Discretionary transaction under Rule 16b-3(f)

Reference price per unit $185.83 Phantom stock transaction valuation

Total phantom stock after transaction 6,131 units Holdings following transaction

Dividend equivalent accruals 55 units Included in total phantom stock holdings

Conversion ratio 1-for-1 Phantom stock payable in common stock at termination of service

Key Terms

Phantom Stock, Chevron Non-Employee Directors' Equity Compensation and Deferral Plan, dividend equivalent accruals, Rule 16b-3(f)

4 terms

Phantom Stock financial

"The shares of phantom stock issued under the Chevron Non-Employee Directors' Equity Compensation and Deferral Plan become payable"

A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.

Chevron Non-Employee Directors' Equity Compensation and Deferral Plan financial

"issued under the Chevron Non-Employee Directors' Equity Compensation and Deferral Plan become payable in common stock"

dividend equivalent accruals financial

"This number includes dividend equivalent accruals (55) under the Chevron Non-Employee Directors' Equity Compensation and Deferral Plan."

Rule 16b-3(f) regulatory

"transaction_code_description: Discretionary transaction under Rule 16b-3(f)"

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

HEWSON MARILLYN A

(Last) (First) (Middle)

1400 SMITH STREET

(Street)

HOUSTON TEXAS 77002

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
CHEVRON CORP [ CVX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock(1)	(2)	06/01/2026		I		209		(1)	(1)	Common Stock	209	$185.83	6,131(3)	D

Explanation of Responses:

1. The shares of phantom stock issued under the Chevron Non-Employee Directors' Equity Compensation and Deferral Plan become payable in common stock upon the reporting person's termination of service.

2. 1-for-1.

3. This number includes dividend equivalent accruals (55) under the Chevron Non-Employee Directors' Equity Compensation and Deferral Plan.

	/s/ Rose Z. Pierson, Attorney-in-Fact for Marillyn A. Hewson	06/03/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Chevron (CVX) director Marillyn Hewson report?

Marillyn Hewson reported a discretionary transaction involving 209 units of phantom stock in Chevron (CVX). The units were valued at $185.83 each and are part of the Non-Employee Directors' Equity Compensation and Deferral Plan.

How many phantom stock units does Marillyn Hewson hold in Chevron (CVX) after this transaction?

After the transaction, Marillyn Hewson holds 6,131 phantom stock units tied to Chevron (CVX). This total includes 55 units from dividend equivalent accruals under the Non-Employee Directors' Equity Compensation and Deferral Plan.

What is phantom stock in the context of Chevron (CVX) director compensation?

Phantom stock for Chevron (CVX) directors is a deferred equity-based award tracking common stock value. Under the Non-Employee Directors' Equity Compensation and Deferral Plan, these units convert into Chevron common shares, typically on a 1-for-1 basis, when board service ends.

At what price was the Chevron (CVX) phantom stock transaction recorded for Marillyn Hewson?

The 209 phantom stock units for Marillyn Hewson were recorded at $185.83 per unit. This valuation reflects the reference price used for the discretionary transaction under Chevron’s Non-Employee Directors' Equity Compensation and Deferral Plan.

When will Marillyn Hewson’s Chevron (CVX) phantom stock units be paid out?

Hewson’s phantom stock units will be paid in Chevron (CVX) common stock when her service as a non-employee director ends. At that time, each phantom unit converts into one share of Chevron common stock under the plan’s terms.

How do dividend equivalent accruals affect Chevron (CVX) phantom stock holdings?

Dividend equivalent accruals increase the number of phantom stock units linked to Chevron (CVX). In this filing, 55 of Marillyn Hewson’s 6,131 units arose from dividend equivalents credited under the Non-Employee Directors' Equity Compensation and Deferral Plan.