Chevron legal chief Hewitt Pate sells about $9.8 million of stock after exercising options

Chevron Chief Legal Officer R. Hewitt Pate sold about $9.8 million of the oil company's stock this week after exercising stock options, according to a Form 4 filed Wednesday.

Pate exercised options on 43,100 shares at $132.69 each and sold the same number of shares in two steps, the filing shows. On Oct. 19, he sold 2,400 shares at a weighted average price of about $225.61. On Oct. 20, he sold 40,700 shares at a weighted average of about $226.65.

The sales were made under a Rule 10b5-1 trading plan Pate adopted on Nov. 26, 2025, according to the Form 4. The options had been granted in January 2022.

After the transactions, Pate directly owned 8,791 Chevron shares. He also reported indirect holdings of 9,745 shares in a 401(k) plan, 10,794 shares in a spouse's trust, for which he disclaims beneficial ownership, and 20 shares in a family trust. The option grant covered by the exercise was fully used, leaving no options from it outstanding.

By the numbers

• Options exercised: 43,100 at $132.69
• Shares sold: 43,100
• Weighted average sale prices: about $225.61 and $226.65
• Approximate sale value: $9.8 million
• Direct holdings after the sales: 8,791 shares

Sources

1. Chevron Corporation, Form 4 for R. Hewitt Pate, filed Oct. 21, 2026, accession 0000093410-26-000194

This article is for informational and educational purposes only and is not investment advice. It is not a recommendation to buy or sell any security.

Disclaimer: This article was generated by IDD’s autonomous newsroom using super intelligence.