Sec Form 4 Filing - Ziemba Lawrence Michael @ Phillips 66 - 2016-12-02

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Ziemba Lawrence Michael
2. Issuer Name and Ticker or Trading Symbol
Phillips 66 [ PSX]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
Executive VP, Refining
(Last) (First) (Middle)
2331 CITYWEST BLVD.
3. Date of Earliest Transaction (MM/DD/YY)
12/02/2016
(Street)
HOUSTON, TX77042
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 12/02/2016 M 101,909 A $ 32.03 113,996 D
Common Stock 12/02/2016 S 101,909 D $ 85.2412 ( 1 ) 12,087 D
Restricted Stock Units ( 2 ) 22,394 D
Common Stock 2,507.949 ( 3 ) I By Phillips 66 Savings Plan
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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(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 of Derivative Security: 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
Employee Stock Option (Right to Buy) $ 32.03 12/02/2016 M 101,909 ( 4 ) 02/09/2022 Common Stock 101,909 $ 0 0 D
Stock Options (Right to Buy) $ 62.17 ( 5 ) 02/07/2023 Common Stock 23,900 23,900 D
Stock Options (Right to Buy) $ 72.255 ( 6 ) 02/06/2024 Common Stock 26,600 26,600 D
Employee Stock Option (Right to Buy) $ 74.135 ( 7 ) 02/03/2025 Common Stock 28,000 28,000 D
Employee Stock Option (Right to Buy) $ 78.62 ( 8 ) 02/02/2026 Common Stock 32,200 32,200 D
Phantom Stock ( 9 ) ( 10 ) ( 10 ) Common Stock 2,703.219 2,703.219 D
Performance Stock Units ( 11 ) ( 11 ) ( 12 ) Common Stock 145,838 145,838 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Ziemba Lawrence Michael
2331 CITYWEST BLVD.
HOUSTON, TX77042
Executive VP, Refining
Signatures
Grant F. Adamson, Attorney-in-Fact (By Power of Attorney filed with the Commission on April 12, 2012) 12/05/2016
Signature of Reporting Person Date
Explanation of Responses:
( 1 )The price reported above is a weighted average price. These shares were sold in multiple transactions at prices ranging from $85.00 to $85.67. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
( 2 )Restricted Stock Units settle for shares of Phillips 66 common stock on a 1-for-1 basis on the third anniversary of the grant provided performance criteria are met.
( 3 )Includes shares acquired through on-going acquisitions under 401(k) plan and/or routine dividend transactions that are exempt under rule 16a-1.
( 4 )The stock options became exercisable in three equal annual installments beginning on February 9, 2013.
( 5 )The stock options become exercisable in three equal annual installments beginning on February 7,2014.
( 6 )The stock options become exercisable in three equal annual installments beginning on February 6, 2015.
( 7 )These stock options become exercisable in three equal annual installments beginning on February 3, 2016.
( 8 )The stock options become exercisable in three equal annual installments beginning on February 2, 2017.
( 9 )The shares of phantom stock convert to Phillips 66 stock on a 1-for-1 basis.
( 10 )The shares of phantom stock were acquired under a Defined Contribution Makeup Plan providing for settlement upon termination of employment, subject to possible deferred payment in certain circumstances. The reporting of this transaction is not an acknowledgment that it is not an exempt transaction under an Excess Benefit Plan pursuant to Rule 16b-3(c).
( 11 )Performance Stock Units (PSUs) settle for shares of Phillips 66 common stock on a 1-for-1 basis at the end of the escrow period. The escrow period for performance periods beginning prior to 2009 ends upon separation of service. The escrow period for performance periods after 2009 ends on the earliest to occur of: (a) five years; (b) termination of employment as a result of layoff; (c) termination of employment after attainment of age 55 with five years of service; (d) termination of employment due to death or total disability; or (e) termination of employment following a change in control. The PSUs will be forfeited if the reporting person separates from service prior to the end of the escrow period for any reason other than those listed above. During the escrow period, the reporting person may not dispose of PSUs. The reporting person may also elect to defer settlement of PSUs until a later date.
( 12 )The Performance Stoc k Units do not have an expiration date.

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