CHEVRON CORP — Director's Dealing 2011

Feb 3, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CHEVRON CORP (CVX)
CIK: 0000093410
Period of Report: 2011-01-31

Reporting Person: EATON ROBERT J (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-01-31	Common Stock	M	7048	$36.70	Acquired	40971	Direct
2011-01-31	Common Stock	S	7048	$94.8704	Disposed	33923	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-01-31	Non-Qualified Stock Option (Right to Buy)	$36.70	M	7048	Disposed	2013-06-25	Common Stock (7048)	Direct

Footnotes

F1: 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 (880 shares) issued under the Non-Employee Directors' Equity Compensation and Deferral Plan.

F2: The option vests as follows: 50 percent on January 1, 2004 and the remaining 50 percent on June 25, 2004