Wirth Michael K, Chairman and CEO of Chevron (CVX), has demonstrated a clear selling bias in recent insider transactions, with no open-market purchases recorded in the latest filings. Since December 2025, Wirth has executed 10 sales totaling approximately $129.2 million, dwarfing his $62.5 million in historical buy activity. The most significant disposals occurred in concentrated clusters: on March 2, 2026, he sold $17.2 million and $16.3 million worth of CVX shares alongside smaller transactions, while January 5, 2026, saw five sales including a $21.9 million block. These disposals were supplemented by multiple smaller transactions coded as gifts or trust distributions, such as the $684,780 and $717,558 dispositions on January 31 and February 10, 2026, respectively.
The trading pattern shows Wirth systematically reducing his Chevron position through both large, discrete sales and recurring smaller transfers. Notably, the March 2026 transactions included $22.8 million in shares acquired through derivative transactions (code M), suggesting he may be exercising and immediately selling equity awards. While his historical $62.5 million in purchases indicates prior accumulation, the recent activity—particularly the absence of any buys since at least December 2025—reflects a consistent divestment approach. All transactions involve Chevron stock exclusively, with no diversification into other securities. The scale and frequency of sales, especially the eight-figure dispositions in early 2026, mark a pronounced shift toward liquidity events in Wirth’s holdings.
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