Chevron Corporation Reports Executive Compensation Updates
Summary
On January 28, 2026, Chevron Corporation's independent Directors reviewed and approved compensation for its executive officers, including CEO Michael K. Wirth. Base salaries for Mr. Wirth, Ms. Bonner, Mr. Nelson, and Mr. Pate were increased, effective March 1, 2026. The Board also approved significant equity grant awards under the 2022 Long-Term Incentive Plan, with a grant date of February 1, 2026. - Mr. Wirth's annual base salary increased by $75,000 to $1,975,000. - Equity awards included $23,000,000 for Mr. Wirth and $5,094,000 for Ms. Bonner. - No changes were made to the 2026 target percentages under the Chevron Incentive Plan for the named executives.
Why It Matters
Investors should note the significant increases in executive base salaries and the substantial equity grant awards, particularly the $23,000,000 award to CEO Michael K. Wirth, as these reflect the Board's assessment of executive performance and future incentives.
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Key Quote
“On January 28, 2026, the independent Directors of the Board of Directors (the "Board") of Chevron Corporation ("Chevron") conducted an annual review of the compensation of Chevron's executive officers, including Michael K.”
— From Item 5.02
Filing Details
Reported Items
Additional Information
- CIK Number
- 0000093410
- Filing Date
- Friday, January 30, 2026
- Filing Time
- 12:00 AM UTC
- Form Type
- 8-K
- Materiality Level
- high
- Sentiment
- positive