Phillips 66 Executives Sell Millions in Company Stock

On February 17, Don Baldridge, Vice President at Phillips 66 (PSX), sold 7,500 shares on the open market at roughly $160 per share, raising about $1.2 million (approximately KRW 2 billion). After this sale, Mr. Baldridge still holds around $6 million (KRW 8 billion) in common stock, as well as a substantial number of restricted stock units that will convert into shares in the future.

On March 4 and 5, Kevin J. Mitchell, Chief Financial Officer and Vice President, exercised stock options and immediately sold the acquired shares, disposing of several million dollars’ worth of stock (around KRW 5 billion). Following these transactions, he continues to directly hold about $16.2 million (KRW 22 billion) in equity, according to company filings.

Phillips 66 recently increased its quarterly dividend and will have management outline future strategies at the Morgan Stanley Energy & Power Conference on March 4—moves that underscore its commitment to shareholder returns and external communication.

In addition, in partnership with Kinder Morgan, the company has launched the second open season for the Western Gateway project to expand crude oil pipeline capacity on the U.S. West Coast, reflecting ongoing investments in infrastructure growth.

Headquartered in Houston, Texas, Phillips 66 is a leading refining and midstream energy company. Through its refineries, pipelines and chemical and marketing assets, it supplies petroleum products across North America and Europe.