The pair is believed to have parted ways after just three months. A source told Us Magazine, 'They are not dating anymore. And it's not a big deal for either of them.'
A second insider added, 'At one point, there was a chance it would develop into something more serious, but it never did.'
And it looks like Phillippe, who has two children with ex-wife Reese Witherspoon, has already moved on after he was spotted chatting up Rihanna.
An onlooker at the Gucci/Roc Nation brunch at LA's Soho House on Saturday said, 'He said something to the effect of, 'What are you doing tonight?''