Phillips 66 Files 8-K: Material Agreement and Financial Obligations

Ticker: PSX · Form: 8-K · Filed: 2025-04-01T00:00:00.000Z

Sentiment: neutral

Topics: material-agreement, financial-obligation, regulation-fd

Related Tickers: PSX

TL;DR

PSX signed a big deal, now has new financial obligations.

AI Summary

On April 1, 2025, Phillips 66 entered into a material definitive agreement, creating a direct financial obligation. The company also made disclosures under Regulation FD and reported other events. Specific details regarding the agreement and financial obligations are not provided in this excerpt.

Why It Matters

This filing indicates Phillips 66 has entered into a significant agreement that creates financial obligations, which could impact its financial health and future operations.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement and financial obligations, which inherently carry some level of risk until more details are disclosed.

Key Players & Entities

Phillips 66 (company) — Registrant
April 1, 2025 (date) — Date of earliest event reported

FAQ

What is the nature of the material definitive agreement Phillips 66 entered into?

The filing states that Phillips 66 entered into a material definitive agreement on April 1, 2025, but does not specify the nature of the agreement.

What are the specific financial obligations created by the agreement?

The filing indicates the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement, but the exact details and amounts are not provided in this excerpt.

What is the purpose of the Regulation FD Disclosure mentioned in the filing?

The filing notes a Regulation FD Disclosure, which is typically made to ensure that material non-public information is broadly disseminated to the public, preventing selective disclosure.

Are there any other significant events reported by Phillips 66 on April 1, 2025?

The filing lists 'Other Events' as an item information, alongside the material agreement and financial obligations, but does not detail what these other events are.

Where is Phillips 66's principal executive office located?

Phillips 66's principal executive offices are located at 2331 CityWest Boulevard, Houston, Texas 77042.

From the Filing

0001193125-25-070544.txt : 20250401 0001193125-25-070544.hdr.sgml : 20250401 20250401171550 ACCESSION NUMBER: 0001193125-25-070544 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 16 CONFORMED PERIOD OF REPORT: 20250401 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20250401 DATE AS OF CHANGE: 20250401 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Phillips 66 CENTRAL INDEX KEY: 0001534701 STANDARD INDUSTRIAL CLASSIFICATION: PETROLEUM REFINING [2911] ORGANIZATION NAME: 01 Energy & Transportation EIN: 453779385 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-35349 FILM NUMBER: 25800877 BUSINESS ADDRESS: STREET 1: 2331 CITYWEST BLVD. CITY: HOUSTON STATE: TX ZIP: 77042 BUSINESS PHONE: 832-765-3010 MAIL ADDRESS: STREET 1: 2331 CITYWEST BLVD. CITY: HOUSTON STATE: TX ZIP: 77042 8-K 1 d885786d8k.htm 8-K 8-K false 0001534701 0001534701 2025-04-01 2025-04-01     UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549     FORM 8-K     CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): April 1, 2025     Phillips 66 (Exact name of registrant as specified in its charter)       Delaware   001-35349   45-3779385 (State or other jurisdiction of incorporation)   (Commission File Number)   (I.R.S. Employer Identification No.) 2331 CityWest Boulevard Houston , Texas 77042 (Address of Principal Executive Offices and Zip Code) (832) 765-3010 Registrant’s telephone number, including area code Not Applicable (Former name or former address, if changed since last report.)     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))   ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common stock, $0.01 par value   PSX   New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐       Item 1.01. Entry into a Material Definitive Agreement. On April 1, 2025, Phillips 66 Company (the “Company”), a wholly owned subsidiary of Phillips 66, amended the Company’s accounts receivable securitization program. In connection therewith, the Company entered into the Second Amendment to Receivables Purchase and Financing Agreement (the “Amendment”) to amend its existing Receivables Purchase and Financing Agreement dated September 30, 2024 (the “RPFA”), among the Company, as servicer