Chevron Officer Files Form 144 to Sell $5.64M in Common Stock

Executive Summary

On November 2, 2026, Jeff B Gustavson, an Officer at Chevron Corporation (NYSE: CVX), filed a Form 144 notice disclosing an intention to sell 24,439 shares of Chevron common stock with an aggregate market value of approximately $5.64 million ($230.71/share).

Transaction Details

• Securities Offered: 24,439 Common Shares
• Aggregate Market Value: $5,638,275.26
• Approximate Sale Date: November 2, 2026
• Broker: Morgan Stanley Smith Barney LLC Executive Financial Services
• Source of Shares: Acquired on November 2, 2026, through the exercise of stock options under a registered plan (two tranches: 8,839 shares and 15,600 shares) paid in cash.

Historical Context & Prior Sales

In the preceding three months, the reporting officer previously sold:

• August 11, 2026: 14,044 shares for gross proceeds of $2,737,866.56.

Trading Assessment

• Significance: Medium
• Context: The proposed sale represents 24,439 shares against an outstanding share count of approximately 1.98 billion shares, presenting negligible market dilution. Because the transaction originates from a same-day option exercise, it reflects typical executive equity compensation realization rather than an unhedged divestment of core long-term holdings.