Phillips 66 Files 2025 Shareholder Meeting Materials

TL;DR

PSX filed proxy materials for its 2025 shareholder meeting. All you need to know.

AI Summary

Phillips 66 filed a Definitive Additional Materials (DEFA14A) on April 28, 2025, related to its 2025 Annual Meeting of Shareholders. This filing includes a press release and a presentation, providing shareholders with information ahead of the meeting.

Why It Matters

This filing provides shareholders with crucial information and materials for the upcoming 2025 Annual Meeting, allowing them to make informed decisions regarding company matters.

Risk Assessment

Risk Level: low — This filing is a standard proxy statement providing information to shareholders and does not present immediate financial risks.

Key Players & Entities

• Phillips 66 (company) — Registrant and filer of the DEFA14A
• 2025 Annual Meeting of Shareholders (event) — Subject of the proxy statement materials
• April 28, 2025 (date) — Date of the filing and press release issuance

FAQ

From the Filing

0001193125-25-100850.txt : 20250428 0001193125-25-100850.hdr.sgml : 20250428 20250428172100 ACCESSION NUMBER: 0001193125-25-100850 CONFORMED SUBMISSION TYPE: DEFA14A PUBLIC DOCUMENT COUNT: 118 FILED AS OF DATE: 20250428 DATE AS OF CHANGE: 20250428 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: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 001-35349 FILM NUMBER: 25881605 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 DEFA14A 1 d587808ddefa14a.htm DEFA14A DEFA14A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant ☑ Filed by a party other than the Registrant ☐ CHECK THE APPROPRIATE BOX: ☐ Preliminary Proxy Statement ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ☐ Definitive Proxy Statement ☑ Definitive Additional Materials ☐ Soliciting Material under §240.14a-12 (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) PAYMENT OF FILING FEE (CHECK ALL BOXES THAT APPLY): ☑ No fee required ☐ Fee paid previously with preliminary materials ☐ Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11 On April 28, 2025, Phillips 66 issued the following press release in connection with Phillips 66 publishing a presentation related to Phillips 66’s 2025 Annual Meeting of Shareholders. A copy of the press release is provided below. Phillips 66 Files Investor Presentation Highlighting Proven Strategy, Board Strength and Path for Shareholder Value Creation Outlines strong operational and financial performance driven by the Company’s transformative strategy Warns that Elliott’s high-risk proposals are misleading, based on flawed analysis and threaten long-term shareholder value Underscores the valuable skills and experiences Phillips 66’s Board and nominees have to drive shareholder value creation, superior to those of Elliott’s nominees HOUSTON, April 28, 2025 - Phillips 66 (NYSE:PSX) (the “Company”) today filed an investor presentation with the U.S. Securities and Exchange Commission in connection with its upcoming Annual Meeting of Shareholders on May 21, 2025. In conjunction with the presentation, Phillips 66 published two new videos that showcase the skills and experiences the Company’s two new Board nominees, A. Nigel Hearne and Howard Ungerleider, would bring to the Board and how they would approach driving shareholder value as a potential Board member of Phillips 66. The presentation and the videos are available at www.phillips66delivers.com . Highlights of the investor presentation include: Phillips 66’s proven strategy has driven, and will drive, outperformance for shareholders • Since Mark Lashier became President and CEO in 2022, Phillips 66 has delivered total shareholder returns of 67% 1 , significantly outperforming the S&P 500 Energy Index by 45% 1 and the Company’s synthetic proxy peer median 2 by 42% 1 • In under three years, Phillips 66 has taken significant action, including returning over $14 billion to shareholders through share repurchases and dividends, rationalization of Refining assets, $3.5 billion in non-core asset divestitures, and opportunistic Midstream expansion through the Pinnacle and EPIC NGL acquisitions 3 • Reduced Refining Adjusted Controllable Costs from $6.98/bbl in 2022 to $5.90/bbl 4 in 2024