Chevron Corporation’s board conducted its annual executive compensation review on January 29, 2025. CEO Michael Wirth’s salary remains at $1.9 million, while other executives received base salary increases. The board maintained target bonus percentages under the Chevron Incentive Plan and approved 2025 equity awards under the 2022 Long-Term Incentive Plan, including performance shares, restricted stock units, and stock options. Equity awards will vest over time, with performance shares tied to total shareholder return and return on capital employed. Executives meeting specific tenure thresholds will retain some vesting benefits upon termination.