secwatch.observer — SEC 8-K summary
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Issuer:     CHEVRON CORP (CVX)
CIK:        0000093410
Form:       8-K
Filed at:   2023-01-27T23:59:59+00:00
Accession:  0000093410-23-000005
Event type: other_material
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Chevron approves 2023 executive compensation: CEO salary $1.85M, equity grants awarded
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- CEO Wirth base salary increased $150K to $1.85M; CFO Breber up $75K to $1.15M; Nelson up $100K to $1.2M.
- CEO bonus target unchanged at 165%; CFO at 110%; Nelson raised to 120% due to new Vice Chairman role.
- Equity grants: CEO received 47,460 performance shares, 92,800 stock options, 23,730 RSUs; option exercise price $179.08.
- Performance shares vest over 3 years based on TSR (70% weight) vs BP, Exxon, Shell, Total, S&P 500; ROCE improvement (30%).
- Mr. Johnson (EVP) gets no salary change, no CIP award or equity due to upcoming separation from Chevron.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/93410/000009341023000005/0000093410-23-000005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/93410/000009341023000005/cvx-20230124.htm
  HTML page:      https://secwatch.observer/filing/0000093410-23-000005

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