Summary by Moomoo AI
Chevron Corporation has filed a supplement to its definitive proxy statement for the 2024 annual meeting of stockholders, scheduled for May 29, 2024. This supplement, dated April 10, 2024, corrects an error in the executive compensation disclosure for A. N. Hearne, the Executive Vice President. The error, which understated Hearne's perquisite compensation by $608,245, was related to expatriate and tax equalization benefits from restricted stock units under the Chevron Corporation Long-Term Incentive Plan. The total benefits for Hearne in 2023 have been adjusted to $1,826,137. The supplement also includes updated tables for the Summary Compensation and Pay Versus Performance sections, reflecting the corrected compensation figures. Chevron emphasizes that all employees on expatriate assignments receive similar benefits to maintain a consistent net tax position as if they were in their home country. The filing clarifies that no additional action is required from stockholders who have already voted, unless they wish to change their vote.