Riggs R. Lane 4

What Happened
Riggs R. Lane, President, CEO and a director of Valero Energy (VLO), received equity awards on 2026-02-25: 37,850 restricted common shares (time-vested) and 37,850 performance share awards (derivative). To cover tax withholding related to the awards, 14,894 shares were surrendered (Disposition code F) at $198.03 per share, totaling $2,949,384. The grants show an acquisition price of $0.00 (typical for awards).

Key Details

• Transaction date: 2026-02-25; Form 4 filed 2026-02-27 (timely within reporting rules).
• Grants: 37,850 restricted shares (A) and 37,850 performance share awards (A, derivative), acquisition price $0.00.
• Tax withholding/disposition: 14,894 shares disposed at $198.03 each = $2,949,384 (code F).
• Shares owned after transaction: not disclosed in this Form 4.
• Footnotes: F1 — restricted common stock subject to time vesting. F2 — performance shares vest in one‑third increments beginning in 2027 and will be paid in shares at 0–200% of target per the Performance Share Agreement.
• No indication of a 10b5-1 plan or late filing in this report.

Context
These awards are compensation (not open-market purchases) and the share surrender was a routine tax-withholding mechanism, not an open-market sale. Performance shares are contingent on future vesting and payout levels, so their final share count and value depend on company performance and future vesting dates. For retail investors, such grants reflect executive compensation practices rather than a direct buy/sell signal.