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Compensation

At Phillips 66, we share a vision to provide energy and improve lives. Everything we do supports that vision, including our compensation programs.

The compensation programs are an important part of your Total Rewards. They are purposed to drive performance and behaviors aligned with our vision, values, and strategy. In addition, our compensation programs are designed to attract and retain our employees and drive engagement to successfully execute our company strategy. The pillars of our compensation program include Base Salary, Variable Cash Incentive Program (VCIP), Restricted Stock Unit (RSU) Program and Special Recognition.

Phillips 66 obtains market data through various channels to inform decisions regarding our compensation programs, including base salary or pay levels and bonus targets. Each year, we participate in industry-specific, broad-based, and global market surveys to gain a holistic view of the job market including pay levels and trends.

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To view your compensation, log into My HR Tools.

View the Total Rewards Compensation page on Connect for additional details on the Phillips 66 compensation programs. You will need to be logged into the Phillips 66 network to access this page.

Base Salary

When you work at Phillips 66, you can expect a compensation package which includes your base salary that is market competitive. Think of your base salary as your paycheck. Generally, this portion of your compensation package is determined by your level of responsibility, experience and market pay levels.

Variable Cash Incentive Program

Our annual bonus program aligns the actions and behaviors of our employees on the key operational and financial priorities and performance expectations to successfully execute our strategy and create shareholder value. Payouts are based on the performance results achieved by the company and further differentiated by individual performance.

You will have a VCIP target award percentage applied to your annual eligible earnings. Based on the company's performance relative to rigorous operational and financial goals, your final bonus payout can range from 0% to 200% of your target. In addition, your final bonus payout may be further differentiated based on your individual performance.

Regular full-time and part-time employees (salaried and hourly) are eligible. Limited exclusions may apply.

Restricted Stock Unit Award Program

RSU awards provide a stake in the company and are designed to align the actions and behaviors of our employees with shareholders – creating long-term value. In addition, RSU awards promote prudent risk-taking and a long-term perspective. RSU award eligibility and targets are based on salary grade level.

Recognition Awards

Phillips 66 also offers recognition awards to reinforce and motivate employees toward achieving company goals. Recognition is important to our employees and the culture of Phillips 66.

Cash awards are the most common form of recognition awards, but we also offer non-cash recognition awards — including tickets to sporting or social events, services, or electronics. Limited exclusions may apply.