VALERO ENERGY CORP/TX — Director's Dealing 2014

May 5, 2014

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: VALERO ENERGY CORP/TX (VLO)
CIK: 0001035002
Period of Report: 2014-05-01

Reporting Person: Crownover R. Michael (EVP)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $.01 par value	83647	Direct
Common Stock, $.01 par value	4611.89	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (right to buy)	$24.582	2021-10-28	Common Stock, $.01 par value (4101)		Direct
Employee Stock Option (right to buy)	$27.318	2022-11-09	Common Stock, $.01 par value (6106)		Direct
Employee Stock Option (right to buy)	$39.665	2023-11-08	Common Stock, $.01 par value (6700)		Direct
Performance Shares	$	2015-01-31	Common Stock, $.01 par value (14546)		Direct
Performance Shares	$	2016-01-31	Common Stock, $.01 par value (6343)		Direct
Performance Shares	$	2017-01-30	Common Stock, $.01 par value (2680)		Direct

Footnotes

F1: Options granted 10/28/2011; 4,101 will vest on 10/28/2014

F2: Options granted 11/09/2012; 3,053 will vest on each of 11/09/2014 and 11/09/2015

F3: Options granted 11/08/2013; vest in annual 1/3 increments beginning one year from date of grant

F4: The performance shares are payable in shares of common stock in amounts ranging from zero to 200 percent of the performance shares.