CHEVRON CORP — Director's Dealing 2011

May 28, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CHEVRON CORP (CVX)
CIK: 0000093410
Period of Report: 2011-05-25

Reporting Person: SHOEMATE CHARLES R (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-05-04	Common Stock	G	269	—	Disposed	0	Indirect
2011-05-25	Common Stock	A	1799	—	Acquired	32643	Direct

Footnotes

F1: "Bona fide gift" and involves no payment of consideration by the recipient of the gift.

F2: On November 13, 2008, the reporting person contributed 269 shares of Chevron common stock to a grantor retained annuity trust (GRAT) for the benefit of the reporting person and a family trust. The GRAT terminated on November 13, 2010, and on May 4, 2011, 269 shares were transferred from the GRAT to a family trust (for which the reporting person is neither a trustee nor beneficiary). The Form 4 filings for the reporting person filed after November 13, 2008 inadvertently reflected the 269 shares as directly held by the reporting person rather than indirectly held through the GRAT.

F3: This number represents stock units issued under the Non-Employee Directors' Equity Compensation and Deferral Plan.

F4: This number includes the acquisition of dividend equivalent accruals on stock units and the acquisition of stock resulting from the reinvestment of dividends on restricted stock (487 shares) issued under the Non-Employee Directors' Equity Compensation and Deferral Plan.