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SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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X
 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
  
 Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
HESS JOHN B
(Last) (First) (Middle)
HESS CORPORATION
1185 AVENUE OF THE AMERICAS
(Street)
NEW YORK NY 10036
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
HESS CORP [ HES ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) Other (specify below)
Chief Executive Officer
3. Date of Earliest Transaction (Month/Day/Year)
07/18/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, $1.00 par value 07/18/2025 D 344,421(1) D (2) 0 D
Common Stock, $1.00 par value 07/18/2025 D 7,067,802 D (2) 0 I See Note(3)
Common Stock, $1.00 par value 07/18/2025 D 28,753 D (2) 0 I See Note(4)
Common Stock, $1.00 par value 07/18/2025 D 300,000 D (2) 0 I See Note(5)
Common Stock $1.00 par value 07/18/2025 D 7,109 D (2) 0 I See Note(6)
Common Stock $1.00 par value 07/18/2025 D 1,734,679 D (2) 0 I See Note(7)
Common Stock, $1.00 par value 07/18/2025 D 74,365 D (2) 0 I by 401 (k)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
2023 Performance Share Unit $0 07/18/2025 D 38,591 (8) (8) Common Stock, $1.00 par value 81,041 (8) 0 D
Option to purchase Common Stock $141.55 07/18/2025 D 24,166 03/06/2024 03/06/2033 Common Stock, $1.00 par value 24,166 (9) 0 D
Option to purchase Common Stock $141.55 07/18/2025 D 24,166 03/06/2025 03/06/2033 Common Stock, $1.00 par value 24,166 (9) 0 D
Option to purchase Common Stock $141.55 07/18/2025 D 24,166 03/06/2026 03/06/2033 Common Stock, $1.00 par value 24,166 (9) 0 D
Option to purchase Common Stock $101.17 07/18/2025 D 33,746 03/06/2023 03/06/2032 Common Stock, $1.00 par value 33,746 (9) 0 D
Option to purchase Common Stock $101.17 07/18/2025 D 33,747 03/06/2024 03/06/2032 Common Stock, $1.00 par value 33,747 (9) 0 D
Option to purchase Common Stock $101.17 07/18/2025 D 33,747 03/06/2025 03/06/2032 Common Stock, $1.00 par value 33,747 (9) 0 D
Option to purchase Common Stock $75.04 07/18/2025 D 38,211 03/06/2022 03/06/2031 Common Stock, $1.00 par value 38,211 (9) 0 D
Option to purchase Common Stock $75.04 07/18/2025 D 38,211 03/06/2023 03/06/2031 Common Stock, $1.00 par value 38,211 (9) 0 D
Option to purchase Common Stock $75.04 07/18/2025 D 38,211 03/06/2024 03/06/2031 Common Stock, $1.00 par value 38,211 (9) 0 D
Option to purchase Common Stock $49.72 07/18/2025 D 79,254 03/06/2021 03/06/2030 Common Stock, $1.00 par value 79,254 (9) 0 D
Option to purchase Common Stock $49.72 07/18/2025 D 79,254 03/06/2022 03/06/2030 Common Stock, $1.00 par value 79,254 (9) 0 D
Option to purchase Common Stock $49.72 07/18/2025 D 79,254 03/06/2023 03/06/2030 Common Stock, $1.00 par value 79,254 (9) 0 D
Option to purchase Common Stock $56.74 07/18/2025 D 55,309 03/06/2020 03/06/2029 Common Stock, $1.00 par value 55,309 (9) 0 D
Option to purchase Common Stock $56.74 07/18/2025 D 55,310 03/06/2021 03/06/2029 Common Stock, $1.00 par value 55,310 (9) 0 D
Option to purchase Common Stock $56.74 07/18/2025 D 55,310 03/06/2022 03/06/2029 Common Stock, $1.00 par value 55,310 (9) 0 D
Explanation of Responses:
1. This amount includes 144,747 shares held in escrow pursuant to the Corporation's Long Term Incentive Plans.
2. Pursuant to the Agreement and Plan of Merger, dated October 22, 2023 (as amended, the "merger agreement"), by and among Hess, Yankee Merger Sub Inc. ("Merger Sub") and Chevron Corporation ("Chevron"), at the effective time of the merger of Merger Sub with and into Hess on the closing date (the "Effective Time"), each outstanding share of common stock of Hess (except as otherwise specified in the merger agreement) was converted into the right to receive 1.025 (the "exchange ratio") shares of common stock of Chevron.
3. Held by a previously reported limited partnership. The reporting person is on the management committee of the general partner of this limited partnership.
4. Held by a previously reported family LLC controlled by the reporting person.
5. Held by a previously reported limited liability company, for which the reporting person serves as investment manager.
6. Held by a previously reported trust established for the benefit of the reporting person.
7. Held by a previously reported trust established for the benefit of the reporting person.
8. Pursuant to the merger agreement, at the Effective Time, each then outstanding Performance Share Unit (PSU) award was deemed to be earned at the maximum level and converted into a restricted cash award in an amount per share under such PSU award equal to the average closing trading price of a share of Chevron common stock for the 20 business days ending on and including the second to last business day prior to the Effective Time multiplied by the exchange ratio, and in each case subject to the same terms and conditions as applied to such awards immediately prior to the Effective Time (other than the performance conditions).
9. Pursuant to the merger agreement, at the Effective Time each then outstanding Hess stock option was converted into a corresponding Chevron stock option based on the exchange ratio, subject to the same terms and conditions applicable to such award immediately prior to the Effective Time.
Barry Schachter for John B. Hess 07/18/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.