Chevron Increases Executive Base Salaries and Approves Equity Awards

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The CEO's salary will increase by $75,000 to $1,975,000. Additionally, the Board ratified the decision to approve equity awards totaling $23,000,000 for the CEO and other executives under the 2022 Long-Term Incentive Plan, with the actual number of shares to be determined by the stock price on the grant date of February 1, 2026.

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About Chevron Corporation

Chevron Corporation is an integrated energy company operating globally in the exploration, production, and transportation of crude oil and natural gas. Its primary function is to harness energy resources, converting them into products essential for modern life. Chevron covers upstream operations such as oil exploration and drilling, and downstream processes including refining, distribution, and marketing of refined petroleum products. Additionally, Chevron invests in renewable energy projects, aiming to create a balanced energy portfolio. As one of the major players in the oil and gas industry, Chevron significantly impacts sectors including manufacturing, transportation, and energy production. Headquartered in San Ramon, California, this multinational corporation plays a pivotal role in meeting global energy demands and contributes to shaping future energy policies.