VALERO ENERGY CORP/TX — Director's Dealing 2016

May 16, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VALERO ENERGY CORP/TX (VLO)
CIK: 0001035002
Period of Report: 2016-05-12

Reporting Person: Waters Stephen M (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-05-12	Common Stock, $.01 par value	A	3069	—	Acquired	12511	Direct

Footnotes

F1: Award of restricted common stock subject to time vesting.

F2: In addition to the 12,511 shares that are directly beneficially owned by the reporting person, there are an additional 2,940 shares of common stock of the issuer that are held in a trust for which the reporting person's spouse serves as trustee. The reporting person disclaims beneficial ownership of the 2,940 shares, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose. These securities are held in trust for the benefit of the reporting person's mother-in-law who does not share the reporting person's household. Neither the reporting person nor his spouse has a beneficial interest in the income or corpus of the trust. Neither the reporting person nor his spouse has an opportunity to profit or share in any profit derived from a transaction in the subject securities. The reporting person does not have or share investment or voting control over the subject securities.