Phillips 66 insider Kevin J. Mitchell reported a July 9, 2026, transaction involving the company’s common stock, combining an option exercise with an automatic sale under a prearranged trading plan. Mitchell exercised options to acquire 11,021 shares of Phillips 66 common stock at an exercise price of $94.9675 per share. The option award was fully vested under a schedule that made the options exercisable in three equal annual installments beginning February 5, 2020. The transaction was reported with transaction code “M,” which is used for the exercise or conversion of derivative securities. On the same date, Mitchell sold 11,021 shares of Phillips 66 common stock. The sale was reported with transaction code “S” and was executed at a weighted average price of $190.0268 per share. According to the filing, the shares were sold in multiple transactions at prices ranging from $190.00 to $190.25. Based on the reported weighted average price, the sale represented gross proceeds of approximately $2.09 million. The filing states that the sale occurred automatically pursuant to a Rule 10b5-1 trading plan adopted by Mitchell on November 21, 2025. Such plans allow insiders to schedule transactions in advance under specified conditions, providing an affirmative defense against claims that trades were made on the basis of material nonpublic information. After the reported transactions, Mitchell beneficially owned 108,397 shares of Phillips 66 common stock. That total includes 31,849 restricted stock units that settle into Phillips 66 common shares on a one-for-one basis.