Chevron CLO Executes $9.1M Option Exercise and Sale
CHEVRON CORP
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Filing Summary
Chevron CLO Executes $9.1M Option Exercise and Sale
Company: CHEVRON CORP (CVX) Form: 4 | Filed: 2026-03-10 Significance: Low (Routine 10b5-1)
Insider: Pate R. Hewitt Title: Chief Legal Officer | Relationship: Officer
Transaction: • Type: Option Exercise & Sale • Shares: 47,200 • Price: $192.12 (Sale) / $113.01 (Exercise) • Total Value: $9,068,064 • Owned After: 8,558 (Direct)
Key Insight: The Chief Legal Officer exercised options granted in 2019 and immediately sold the underlying shares for a gross proceed of ~$9.1M. The transaction was conducted under a Rule 10b5-1 trading plan adopted in Nov 2025.
Market Context: Transaction represents <0.01% of Chevron's $379B market cap.
Comprehensive Analysis
SEC Filing Analysis: CHEVRON CORP (CVX)
Executive Summary
- Trading Significance: Low
- Key Takeaway: Chief Legal Officer executes a planned exercise-and-sell transaction valued at $9.1M via a 10b5-1 plan.
- Market Impact: Negligible; transaction represents 0.0024% of market cap.
Company Information
| Field | Value |
|---|---|
| Company | CHEVRON CORP |
| Ticker Symbol | CVX |
| CIK | 0000093410 |
| Industry | Petroleum Refining |
Insider Information
| Field | Value |
|---|---|
| Name | Pate R. Hewitt |
| CIK | 0001469419 |
| Title/Position | Chief Legal Officer |
| Relationship | Officer |
Transaction Details
| Field | Value |
|---|---|
| Form Type | 4 |
| Transaction Date | 2026-03-06 |
| Transaction Code | M (Exercise) / S (Sale) |
| Security Type | Common Stock |
| Shares Transacted | 47,200 |
| Sale Price | $192.12 |
| Total Sale Value | $9,068,064 |
| Shares Owned After | 8,558 (Direct) |
| Ownership Type | Direct & Indirect |
Financial Impact Assessment
Transaction Materiality
| Metric | Value |
|---|---|
| Transaction Value | $9,068,064 |
| % of Market Cap | 0.0024% |
| Shares Transacted | 47,200 |
| % of Shares Outstanding | 0.0024% |
| Materiality Assessment | Low |
Impact Evaluation
- Market Cap Context: With a market capitalization of $379.00 billion, a $9 million transaction is mathematically insignificant to the broader stock liquidity.
- Ownership Concentration: The insider retains 8,558 direct shares, plus significant indirect holdings in 401(k) and trusts (approx. 22,770 shares indirect).
- Dilution Impact: The exercise of 47,200 options creates negligible dilution (0.0024% of the 1.99 billion shares outstanding).
Market Impact Analysis
Stock Impact Prediction
- Direction: Neutral
- Reasoning: This is a routine compensation realization event. The options were granted in 2019. The sale was pre-planned via a 10b5-1 plan adopted in November 2025, removing any signal regarding current market sentiment.
Volume & Sentiment
- Expected Volume Impact: None.
- Sentiment Indicator: Neutral.
Additional Context
Transaction Notes
- 10b5-1 Plan: The sales were effected pursuant to a Rule 10b5-1 trading plan adopted on November 26, 2025.
- Option History: The options exercised were granted on January 30, 2019, and were fully vested.
- Indirect Holdings: The reporting person holds additional shares via a 401(k) plan, a Family Trust, and a Spouse Trust.
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Important Disclaimer
This content is drawn from public SEC filings and may contain errors. It is for informational purposes only and is not investment, legal, or tax advice.
Nothing here is a recommendation to buy, sell, or hold any security. Do your own due diligence.