VALERO ENERGY CORP/TX — Director's Dealing 2011

Nov 4, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VALERO ENERGY CORP/TX (VLO)
CIK: 0001035002
Period of Report: 2011-11-03

Reporting Person: MARBUT BOB (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-11-03	Common Stock, $.01 par value	M	20000	$9.6188	Acquired	46081	Direct
2011-11-03	Common Stock, $.01 par value	F	7633	$25.20	Disposed	38448	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-11-03	Stock Option (right to buy)	$9.6188	M	20000	Disposed	2011-12-31	Common Stock (20000)	Direct

Footnotes

F1: The 38,448 amount does not include 37,993 indirectly owned shares held by a corporation owned by the reporting person.