---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-129526"
form_type: "8-K"
ticker: "PSX"
cik: "0001534701"
company_name: "Phillips 66"
filed_at: "2025-05-28T23:59:59+00:00"
generated_at: "2026-05-20T07:58:22.399365+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.15
confidence: "high"
source: SEC EDGAR
---

# Hearne, Pease, Cornelius, Heim elected to Phillips 66 board; declassification proposal rejected

## Summary
- Four Class I directors elected: Hearne (mgmt), Pease (mgmt), Cornelius (Elliott), Heim (Elliott).
- Management nominees Lowe and Ungerleider failed; Elliott nominees Coffman and Nieuwoudt also failed.
- Board declassification amendment rejected: 295M For, 7M Against (needed supermajority).
- Say-on-pay approved with ~85% support; one-year frequency for future advisory votes approved.
- Non-binding shareholder proposal for annual director resignations rejected: 99.5M For vs 202.7M Against.

## SEC filing metadata
- accession: 0001193125-25-129526
- form_type: 8-K
- ticker: PSX
- cik: 0001534701
- company_name: Phillips 66
- filed_at: 2025-05-28T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.15
- confidence: high
- sec_items: 5.07
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1534701/000119312525129526/0001193125-25-129526-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1534701/000119312525129526/d71836d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-129526
- JSON: https://secwatch.observer/filing/0001193125-25-129526.json
- Plain text: https://secwatch.observer/filing/0001193125-25-129526.txt

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