Chevron completed its merger with Hess on 7/18/2025. Hess shareholders received 1.025 shares of Chevron stock for each HES share. 

The Chevron Form S-4/A SEC filing for this merger can be found through the SEC EDGAR web site at: https://www.sec.gov/ix?doc=/Archives/edgar/data/0000093410/000119312524110233/d576159ds4a.htm  

In addition, a form 8937, with the tax consequences of this merger, is available on the Chevron website. Here is a link to the 8937: https://www.chevron.com/-/media/chevron/investors/documents/form-8937-for-hess-acquisition.pdf 

Resolution:

The companies intend to have the merger qualify as a non-taxable reorganization. We will assume the IRS does not dispute this opinion and will treat this merger as a simple merger. The information below is based on the information available from a form S-4/A filed with the SEC and IRS form 8937 available on the Chevron web site. Price information is from websites offering historical prices. 

NOTE: The companies state they will endeavor to satisfy the conditions necessary to make this transaction non-taxable and may get legal advice that the transaction qualifies for non-taxable treatment. However, there is the possibility the IRS will disagree with their characterization. These instructions assume the companies succeed in their efforts. New instructions will be written, if and when it becomes known the merger should be treated as a taxable event. 

The Merger Entry Go to Accounting > Securities > Record merger of securities in myICLUB. If you are unfamiliar with merger transactions you can get help at this URL: https://www.myiclub.com/faq/article.aspx?id=52 

Here is the information needed to complete the merger entry in myICLUB. 

Step 1 

• Date: 7/18/2025 
• Merging Company: Hess (HES) 
• Number of daughter companies : 1 (keep this default) 

Step 2 

• Symbol of new company: CVX (Chevron)  
• Shares received : 1.025 x (# of HES shares owned). (Remember to include fractional shares in the transaction.) For example, if you owned 100 HES shares, you should receive 1.025 x 100 = 102.5 CVX shares.  
• Price per share: 150.04   (CVX Closing price on 7/18/2025) 
• Cash received:  See your broker statement for cash-in-lieu 

Any fractional share entered will be sold for the cash amount entered as part of the merger transaction. No need to enter a separate sell transaction. If no cash amount is entered, the fractional share will remain in your portfolio. 

Click the Submit button  and the merger transaction has been entered.