Company: MGY
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0001558370-25-003377
Chunk: 38

Company: Magnolia Oil & Gas Corp
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 38
---
 each Named Executive Officer’s long term equity-based compensation granted in 2024 was in the form of PSUs subject to achievement of relative TSR goals and continued service requirements tied to a three year performance period, to provide additional alignment with stockholders.                                      
 ◾Mr. Stavros and Mr. Corales each received larger equity-based compensation grants in 2024, which were intended to position their total compensation more competitively with other similarly situated executive officers in the market and increase their equity ownership in the Company given their relatively short tenure in their respective roles. |
| ​                                                                                                                                                     | ​ | ​                                                                                                                                                                                                                                                                                                                                                        |

The experience and expertise of Magnolia’s employees, including its Named Executive Officers, is critical to the Company’s ability to create value for Magnolia’s investors by growing the Company’s asset platform, generating substantial free cash flow, maintaining financial flexibility, and focusing on thoughtful capital allocation. We believe our executive compensation program continues to appropriately focus the Named Executive Officers and our other employees on the most important drivers of our business strategy and to be strongly aligned with our stockholders’ interests. Strong Stockholder Support for 2024 Say-On-Pay Vote

| At the 2024 Annual Meeting of Stockholders, our stockholders were asked to approve, on an advisory basis, the compensation of our Named Executive Officers for 2023. Advisory votes in favor of our executive compensation program were cast by over 98 percent of the shares of our Common Stock counted as present and entitled to vote at the 2024 Annual Meeting of Stockholders. The Compensation Committee reviewed and considered the results of this “say-on-pay” vote when evaluating the compensation of the Named Executive Officers in 2024 and 2025, along with other insights gleaned from ongoing stockholder outreach activities. |

Compensation Philosophy and Objectives We have designed our compensation programs around the following objectives to reward performance that supports our long term strategy and achievement of our short term goals and, in turn, drive toward our overall objective of generating stock market value:

| Compensation Objective             | How We Accomplish this Objective                                                                                                                                                                       |
| Be Competitive                     | ■We maintain market-competitive compensation programs in line with the compensation of similarly situated positions at companies in our Compensation Peer Group.                                       |
| Pay for Performance                | ■The majority of our executives’ compensation is in the form of variable, at-risk compensation.                                                                                                        
 ■Our 2024 annual bonus program is tied to specific Company financial objectives.                                                                                                                       
 ■At least 50 percent of our Named Executive