Wirth Michael K, Chairman and CEO of Chevron (CVX), has filed 39 Form 4 transactions over the past year, all concentrated in the energy giant. The pattern is overwhelmingly one-sided: roughly $125.1 million in open-market sales against zero purchases, with the most recent cluster of activity occurring in early March 2026. On March 2 alone, Wirth executed five separate "S" transactions totaling approximately $51.6 million, including a single sale valued at $17.2 million and another at $16.3 million. That same day, he also exercised options worth $10.2 million and $22.8 million, though those "M" codes represent mechanical conversions rather than discretionary buying.
The selling cadence has been steady and substantial. In early January 2026, Wirth disposed of roughly $52.3 million in CVX shares across five trades, with individual sales ranging from $4.1 million to $21.9 million. A smaller sale of $705,220 was recorded on March 2 as well. The only non-sale transactions in the recent window are routine: "F" codes for shares withheld to cover tax obligations (totaling about $2.2 million across four dates), "A" grants with zero value, and "D" transactions reflecting shares returned to the issuer. The single "D" on January 31, 2026, was valued at $9.1 million.
Notably, there are no "P" codes—open-market purchases—in the entire filing history, meaning Wirth has not bought CVX stock on the open market during this period. The absence of any acquisition activity, combined with the consistent, large-dollar selling across multiple dates, points to a clear directional bias: net distribution of Chevron equity. The transactions are concentrated in a single ticker, CVX, and the dollar figures suggest a deliberate, ongoing reduction of his position rather than isolated or opportunistic trades.
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