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 OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Herman Robert A
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 Vice President
(Last)          (First)          (Middle)

2331 CITYWEST BLVD.
3. Date of Earliest Transaction (MM/DD/YYYY)

5/31/2022
(Street)

HOUSTON, TX 77042
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
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. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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 5/31/2022  M  12300 A$62.17 76406 (1)D  
Common Stock 5/31/2022  M  11400 A$72.255 87806 (1)D  
Common Stock 5/31/2022  M  23500 A$74.135 111306 (1)D  
Common Stock 5/31/2022  S  47200 D$102.8237 (2)64106 (1)D  
Common Stock         5709.054 (3)I Phillips 66 Savings Plan 

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security3. Trans. Date3A. Deemed Execution Date, if any4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date7. 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 of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Stock Options (Right to Buy) $62.17 5/31/2022  M     12300   (4)2/7/2023 Common Stock 12300.0 $0 0 D  
Stock Options (Right to Buy) $72.255 5/31/2022  M     11400   (5)2/6/2024 Common Stock 11400.0 $0 0 D  
Employee Stock Option (Right to Buy) $74.135 5/31/2022  M     23500   (6)2/3/2025 Common Stock 23500.0 $0 0 D  

Explanation of Responses:
(1) Includes 21,159 Restricted Stock Units (RSUs) that settle for shares of Phillips 66 common stock on a 1-for-1 basis on the third anniversary of the date of grant.
(2) The price reported above is a weighted average price. These shares were sold in multiple transactions at prices ranging from $101.95 to $103.30. 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.
(3) Includes shares acquired through on-going acquisitions under 401(k) plan and/or routine dividend transactions that are exempt under rule 16a-11.
(4) The stock options became exercisable in three equal annual installments beginning on February 7, 2014.
(5) The stock options became exercisable in three equal annual installments beginning on February 6, 2015.
(6) The stock options became exercisable in three equal annual installments beginning on February 3, 2016

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
Herman Robert A
2331 CITYWEST BLVD.
HOUSTON, TX 77042


Executive Vice President

Signatures
Julie P. Pradel, Attorney in Fact6/1/2022
**Signature of Reporting PersonDate


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 control number.
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