CHEVRON CORP — Director's Dealing 2011

Feb 9, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CHEVRON CORP (CVX)
CIK: 0000093410
Period of Report: 2011-02-07

Reporting Person: BETHANCOURT JOHN E (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-07	Common Stock	M	20000	$47.055	Acquired	85102	Direct
2011-02-07	Common Stock	M	6170	$89.145	Acquired	91272	Direct
2011-02-07	Common Stock	M	1865	$89.145	Acquired	93137	Direct
2011-02-07	Common Stock	S	28035	$97.50	Disposed	65102	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-07	Non-Qualified Stock Option (Right to Buy)	$47.055	M	20000	Disposed	2014-06-30	Common Stock (20000)	Direct
2011-02-07	Non-Qualified Stock Option (Right to Buy)	$89.145	M	6170	Disposed	2011-06-22	Common Stock (6170)	Direct
2011-02-07	Non-Qualified Stock Option (Right to Buy)	$89.145	M	1865	Disposed	2011-06-22	Common Stock (1865)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	37953	Indirect

Footnotes

F1: This number includes dividend equivalent accruals (89 shares) from awards granted under the Chevron Long-Term Incentive Plan.

F2: Between November 2, 2010 and February 7, 2011, the reporting person acquired 441 shares of Chevron Common Stock under the Chevron Employee Savings Investment Plan, a 401(k) plan.

F3: One-third of the shares subject to the option vest on each of the first, second and third anniversaries of the date of grant.