---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-142482"
form_type: "8-K"
ticker: "PSX"
cik: "0001534701"
company_name: "Phillips 66"
filed_at: "2022-05-05T23:59:59+00:00"
generated_at: "2026-06-25T23:38:45.807548+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-22-142482
- form_type: 8-K
- ticker: PSX
- cik: 0001534701
- company_name: Phillips 66
- filed_at: 2022-05-05T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1534701/000119312522142482/0001193125-22-142482-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1534701/000119312522142482/d332444d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-142482
- JSON: https://secwatch.observer/filing/0001193125-22-142482.json
- Plain text: https://secwatch.observer/filing/0001193125-22-142482.txt

## Key facts
- Executive change
  Robert A. Herman departed as Executive Vice President, Refining at Phillips 66.
  - Action: retire
  - Role: Executive Vice President, Refining
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1534701/000119312522142482/0001193125-22-142482-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.