CHEVRON CORP — Director's Dealing 2011

Mar 10, 2011

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: CHEVRON CORP (CVX)
CIK: 0000093410
Period of Report: 2011-03-01

Reporting Person: Zygocki Rhonda I. (Executive Vice President)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1274	Direct
Common Stock	6266	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Non-Qualified Stock Option (Right to Buy)	$74.08	2017-03-28	Common Stock (26000)		Direct
Non-Qualified Stock Option (Right to Buy)	$84.96	2018-03-26	Common Stock (39000)		Direct
Non-Qualified Stock Option (Right to Buy)	$69.70	2019-03-25	Common Stock (45000)		Direct
Non-Qualified Stock Option (Right to Buy)	$73.70	2020-01-27	Common Stock (46500)		Direct
Non-Qualified Stock Option (Right to Buy)	$94.64	2021-01-26	Common Stock (53000)		Direct
Phantom Stock	$		Common Stock (8042)		Direct
Phantom Stock Units	$		Common Stock (1783)		Indirect
Phantom Stock Units	$		Common Stock (5600)		Direct

Footnotes

F1: As of March 4, 2011, this number represents the reporting person's shares of Chevron Corporation common stock under the Chevron Employee Savings Investment Plan, a 401(k) plan and the Chevron Taxable Savings Plan, both retirement savings plans.

F2: Option granted 3/28/2007. One-third of the shares subject to the option vest on each of the first, second and third anniversaries of the date of grant.

F3: Option granted 3/26/2008. One-third of the shares subject to the option vest on each of the first, second and third anniversaries of the date of grant.

F4: Option granted 3/25/2009. One-third of the shares subject to the option vest on each of the first, second and third anniversaries of the date of grant.

F5: Option granted 1/27/2010. One-third of the shares subject to the option vest on each of the first, second and third anniversaries of the date of grant.

F6: Option granted 1/26/2011. One-third of the shares subject to the option vest on each of the first, second and third anniversaries of the date of grant.

F7: The shares of phantom stock, which are issued under the Chevron Deferred Compensation Plan for Management Employees II, become payable after retirement or other termination of service.

F8: 1-for-1

F9: Each phantom stock unit is the economic equivalent of one share of Chevron Corporation common stock. The phantom stock units, which are issued under the Chevron ESIP-RP, are payable in cash upon the reporting person's retirement or other termination of service.

F10: Each phantom stock unit is the economic equivalent of one share of Chevron Corporation common stock. The phantom stock units vest on January 26, 2014 and are payable in cash.