CHEVRON CORP — Director's Dealing 2024

Feb 9, 2024

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CHEVRON CORP (CVX)
CIK: 0000093410
Period of Report: 2024-02-06

Reporting Person: GUSTAVSON JEFF B (Vice President)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2024-02-06	Non-Qualified Stock Option (Right to Buy)	$152.35	A	10700	Acquired	2034-02-06	Common Stock (10700)	Direct
2024-02-06	Restricted Stock Units	$0	A	2660	Acquired		Common Stock (2660)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$		Common Stock (1538)	1538	Direct

Footnotes

F1: One-third of the shares subject to the option vest on February 10, 2025, February 10, 2026 and February 10, 2027, respectively.

F2: Restricted stock units granted under the Chevron Corporation 2022 Long-Term Incentive Plan. Each restricted stock unit is the economic equivalent of one share of Chevron Corporation common stock. Restricted stock units accrue dividend equivalents in the form of additional restricted stock units. One-third of the shares subject to this award vest on February 10, 2025, February 10, 2026 and February 10, 2027, respectively, and will settle in shares of Chevron common stock on the date of vesting. Shares issued upon vesting are subject to a two-year post-vesting holding period, which is removed upon termination of employment.

F3: The reporting person previously reported the grant of 2,220 restricted stock units in Table I of a Form 4 filed on January 27, 2023. The initial award provided that one-third of the restricted stock units would vest on each of January 31, 2024, January 31, 2025 and January 31, 2026. The vesting of one-third of the award, together with 29 additional restricted stock units accrued as dividend equivalents, was reported on a Form 4 filed on February 2, 2024. The remaining restricted stock units, including 58 dividend equivalents, are now being reported in Table II. Shares issued upon vesting are subject to a two-year post-vesting holding period, which is removed upon termination of employment.

F4: Each restricted stock unit is the economic equivalent of one share of Chevron Corporation common stock.