Phillips 66 Adjusts Executive Compensation
Ticker: PSX · Form: 8-K · Filed: Apr 4, 2024 · CIK: 1534701
| Field | Detail |
|---|---|
| Company | Phillips 66 (PSX) |
| Form Type | 8-K |
| Filed Date | Apr 4, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-compensation, management-changes
Related Tickers: PSX
TL;DR
PSX updated exec pay: salaries up, incentive targets adjusted for top brass.
AI Summary
On April 1, 2024, Phillips 66 announced changes to its executive compensation arrangements. The filing details adjustments to the base salary, annual incentive opportunity, and long-term incentive awards for its named executive officers, including CEO Jeffrey C. Johnson. These changes are effective as of April 1, 2024, and aim to align executive compensation with company performance and market competitiveness.
Why It Matters
Changes in executive compensation can signal management's confidence in future performance or adjustments based on recent results, potentially impacting investor sentiment.
Risk Assessment
Risk Level: low — This filing concerns routine executive compensation adjustments and does not indicate significant operational or financial risks.
Key Players & Entities
- Phillips 66 (company) — Registrant
- Jeffrey C. Johnson (person) — CEO
- April 1, 2024 (date) — Effective date of compensation changes
FAQ
What specific changes were made to the base salaries of Phillips 66's named executive officers?
The filing indicates adjustments to base salaries for named executive officers, with specific new amounts detailed in the compensatory arrangements section.
How are the annual incentive opportunities for Phillips 66 executives being adjusted?
The filing states that annual incentive opportunities have been adjusted, with specific targets and potential payouts outlined in the compensatory arrangements.
What is the effective date for these executive compensation changes at Phillips 66?
The changes to the executive compensation arrangements are effective as of April 1, 2024.
Does this filing provide details on long-term incentive awards for Phillips 66 officers?
Yes, the filing addresses adjustments to long-term incentive awards for certain officers as part of the updated compensatory arrangements.
Who is identified as the CEO of Phillips 66 in this filing?
Jeffrey C. Johnson is identified as the CEO of Phillips 66 in this filing.
Filing Stats: 729 words · 3 min read · ~2 pages · Grade level 11.2 · Accepted 2024-04-04 16:49:07
Key Financial Figures
- $0.01 — ange on which registered Common stock, $0.01 par value PSX New York Stock Exchange
Filing Documents
- psx-20240401.htm (8-K) — 23KB
- 0001534701-24-000097.txt ( ) — 147KB
- psx-20240401.xsd (EX-101.SCH) — 2KB
- psx-20240401_lab.xml (EX-101.LAB) — 22KB
- psx-20240401_pre.xml (EX-101.PRE) — 13KB
- psx-20240401_htm.xml (XML) — 3KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PHILLIPS 66 By: /s/ Vanessa Allen Sutherland Vanessa Allen Sutherland Executive Vice President Dated: April 4, 2024 2