Company: MGY
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0001558370-25-003377
Chunk: 60

Company: Magnolia Oil & Gas Corp
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 60
---
 such amounts are not included in the table. |

The amount reported for Mr. Millican in the “All Other Compensation” column for 2024 includes, in addition to $27,600 for Company-paid 401(k) plan matching and non-elective contributions, the following severance payments and benefits received by Mr. Millican in accordance with the terms and conditions of the Company’s Executive Severance Plan: (a) a cash severance payment equal to $1,304,100, (b) a pro rata bonus payment for 2024 performance equal to $375,767, (c) $1,847 for health plan premiums for continued coverage during 2024, based on a monthly premium of $923, and (d) $22,000 for 6 months’ worth of outplacement benefits. Mr. Millican may receive continued coverage under the Company’s health plans, at the Company’s expense, for up to 18 months following his termination date, unless he becomes eligible for coverage under another employer’s plan, and the applicable monthly premium for 2025 coverage is $896. In connection with the cessation of his employment, Mr. Millican also received pro rata

| ​                  |  ​ | ​                    |
| Magnolia Oil & Gas | 48 | 2025 Proxy Statement |

Executive Compensation

vesting of his outstanding equity awards in accordance with the terms and conditions of the applicable award agreements, with the aggregate value of the 59,873 pro rata vested shares, determined as of Mr. Millican’s employment termination date, equal to $1,530,953, and no modification charge was taken in connection therewith. For additional information, see “Executive Compensation—Potential Payments Upon Termination or a Change of Control” and “Compensation Discussion and Analysis—2024 Compensation Decisions—Other Compensation—Severance and Change in Control Benefits.”

| (4) | Effective October 28, 2024, Mr. Millican’s employment with the Company ended. |

Grants of Plan-Based Awards for the 2024 Fiscal Year The following table sets forth information concerning grants of plan-based awards to the Named Executive Officers during the 2024 fiscal year for services performed in 2024. For a further description of these awards, including performance and service vesting conditions, see “Compensation Discussion and Analysis—2024 Compensation Decisions—Annual Incentive Program” and “—Long Term Equity-Based Compensation.”

| ​