Phillips 66 EVP Refining retires; settles $3.2B exchange of PSXP notes for parent-issued notes

Phillips 66

Robert A. Herman, EVP Refining, to retire effective June 1, 2022.
Settled exchange offers for ~$3.22B in aggregate principal of PSXP old notes; $3.2M cash paid.
Issued new senior notes across 7 series (2024-2046) totaling ~$3.22B, fully guaranteed by Phillips 66.
Remaining PSXP notes (~$255M) outstanding under amended indentures with reduced covenants.
Registration rights agreement requires registered exchange within 365 days or up to 1% p.a. additional interest.

item 5.02 item 8.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Robert A. Herman

Executive Vice President, Refining

PSX · Phillips 66

Effective: 2022-06-01
Filed: May 5, 2022, 7:59 PM ET

On May 5, 2022, Robert A. Herman, Executive Vice President, Refining of Phillips 66, a Delaware corporation (“Phillips 66”), provided notice to Phillips 66 that he intends to retire from Phillips 66 effective June 1, 2022.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Robert A. Herman departed as Executive Vice President, Refining at Phillips 66.

Action: retire
Role: Executive Vice President, Refining

Exact text from the filing

On May 5, 2022, Robert A. Herman, Executive Vice President, Refining of Phillips 66, a Delaware corporation (“Phillips 66”), provided notice to Phillips 66 that he intends to retire from Phillips 66 effective June 1, 2022.

View on SEC.gov

Phillips 66 filing history →

Source: SEC EDGAR

accession 0001193125-22-142482

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.