secwatch.observer — SEC 8-K summary
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Issuer:     VALERO ENERGY CORP/TX (VLO)
CIK:        0001035002
Form:       8-K
Filed at:   2022-09-26T23:59:59+00:00
Accession:  0001193125-22-251319
Event type: other_material
Sentiment:  neutral
Materiality: 0.35
Item codes: 7.01
LLM model:  deepseek-v4-flash:cloud@v2

Valero updates executive compensation peer group and performance share targets
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1035002/000119312522251319/0001193125-22-251319-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1035002/000119312522251319/d359675d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-251319

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer