Valero updates executive compensation peer group and performance share targets

VALERO ENERGY CORP/TX

Removes Ford Motor Co from comp peer group; adds LyondellBassell, Raytheon Technologies, and Lockheed Martin.
Adds LyondellBassell to performance peer group for relative TSR measurement.
Targets relative TSR above median (50th percentile) rather than median; caps payouts at 100% if Valero's TSR negative.
Modifications result from stockholder engagement feedback and apply to future compensation grants.

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