Chevron New Energies President Jeff Gustavson Sells $5.64 Million After Option Exercise
Chevron’s President of New Energies, Jeff B. Gustavson, reported exercising stock options for 24,439 shares and selling the same number for $5.64 million, according to a Form 4 filed Wednesday.
On Nov. 2, 2026, the filing shows two option exercises coded “M”: 8,839 shares at an exercise price of $113.01 and 15,600 shares at $110.37. The same day, Gustavson sold 24,439 shares coded “S” at a weighted-average price of $230.7081, for proceeds of $5,640,280. A footnote says the sale ran at prices from $230.62 to $230.83.
The Form 4 does not mark the transactions as made under a Rule 10b5-1 plan. Footnotes say the options were granted in January 2019 and January 2020 under Chevron’s long-term incentive plans and had already vested in thirds. After the sale, Gustavson reported 3,818 shares of common stock held directly on that line.
C-suite sales of $1 million or more are the threshold IDD uses for routine mega-cap Form 4 coverage when the filer is not the company CEO, CFO, founder, or chair.
By the numbers
- Options exercised: 24,439 shares
- Shares sold: 24,439
- Weighted-average sale price: $230.7081
- Sale proceeds: $5,640,280
- Direct shares after (reported line): 3,818
Sources
- Chevron Form 4 for President, New Energies Jeff B. Gustavson, filed Nov. 4, 2026 (accession 0000093410-26-000198)
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