Mark A. Nelson, Vice Chairman of Chevron Corp, filed a Form 4 on November 12, 2026, reporting the exercise of two non-qualified stock options and the same-day sale of all resulting shares of common stock on November 10, 2026.

Key Highlights

  • First option exercise: Nelson acquired 81,900 shares at an exercise price of $88.20 via transaction code M on November 10, 2026.
  • First same-day sale: All 81,900 shares from the first exercise were sold at a weighted-average price of $210.4734, with individual trade prices ranging from $210.13 to $210.765.
  • Second option exercise: Nelson acquired 30,100 shares at an exercise price of $179.08 via transaction code M on November 10, 2026.
  • Second same-day sale: All 30,100 shares from the second exercise were sold at a weighted-average price of $210.4828, with individual trade prices ranging from $210.165 to $210.76.
  • Post-transaction direct holdings: Following both sales, Nelson directly owned 11,647 shares of Chevron common stock.
  • Indirect holdings via 401(k): Nelson also held 19,441 shares indirectly through the Chevron Employee Savings Investment Plan, a 401(k) plan, reflecting 534 shares acquired between March 3, 2026, and November 10, 2026.

Nelson Exercises Two Chevron Stock Options and Sells Combined 112,000 Shares

According to the Form 4 filed with the SEC on November 12, 2026, Mark A. Nelson, identified as Vice Chairman of Chevron Corp (NYSE:CVX), executed a series of transactions on November 10, 2026. Nelson exercised a non-qualified stock option originally granted on January 27, 2021, covering 81,900 shares at an exercise price of $88.20. The filing noted that one-third of that option's shares vested on each of January 31, 2022, January 31, 2023, and January 31, 2024. Nelson then sold all 81,900 resulting shares in multiple trades at a weighted-average price of $210.4734.

Nelson also exercised a second non-qualified stock option, originally granted on January 25, 2023, covering 30,100 shares at an exercise price of $179.08. The filing noted that one-third of those shares vested on each of January 31, 2024, January 31, 2025, and January 31, 2026. All 30,100 shares were sold in multiple trades at a weighted-average price of $210.4828. The filing noted that upon request, Nelson will provide the SEC staff, the issuer, or a security holder with full information on shares sold at each separate price within the stated ranges.

The filing also disclosed that the direct share total after the first exercise included 310 shares resulting from the reinvestment of dividends on vested restricted stock units issued under the Chevron Corporation 2022 Long-Term Incentive Plan. Both derivative security positions showed zero remaining derivative securities following the reported exercises. The Form 4 was signed by Rose Z. Pierson as attorney-in-fact for Mark A. Nelson.

What Was Disclosed

Nelson's Form 4 reported the exercise of two non-qualified stock options and the sale of a combined 112,000 shares of Chevron common stock on November 10, 2026. After the transactions, Nelson held 11,647 shares directly and 19,441 shares indirectly through a 401(k) plan.