CHEVRON CORP — Director's Dealing 2011

Feb 4, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

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

Reporting Person: Foehr Matthew J. (Vice Pres. and Comptroller)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-02	Common Stock	M	6667	$56.76	Acquired	7135	Direct
2011-02-02	Common Stock	S	6667	$96.5201	Disposed	468	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-02	Non-Qualified Stock Option (Right to Buy)	$56.76	M	6667	Disposed	2015-06-29	Common Stock (6667)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	12609	Indirect

Footnotes

F1: This transaction was executed in two trades priced at $96.52 and $96.53. The price reported above reflects the weighted-average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.

F2: Between November 2, 2010 and February 2, 2011, the reporting person acquired 137 shares of Chevron Common Stock under the Chevron Employee Savings Investment Plan, a 401(k) plan.

F3: Option granted 06/29/2005. One-third of the shares subject to the option vest on each of the first, second and third anniversaries of the date of grant.