Company: MGY
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0001558370-25-003377
Chunk: 36

Company: Magnolia Oil & Gas Corp
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 36
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 million (2), to stockholders during 2024, through our dividend and share repurchase programs, including a 15 percent increase to our quarterly dividend and a 5 percent reduction in our total outstanding shares. Further, we continued to focus on and enhance our disclosures regarding our sustainability efforts to give our stakeholders a more comprehensive look at our priorities in the areas of safety, environmental stewardship, workforce development, stakeholder and community outreach, and corporate governance.

| (1) | A reconciliation of free cash flow to the nearest GAAP measure is set forth in Annex A. |

| (2) | Full year 2024 return to stockholders includes $272.5 million of share repurchases, $97.6 million of dividends to Class A stockholders, and $7.8 million of distributions to Class B stockholders. |

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| Magnolia Oil & Gas | 31 | 2025 Proxy Statement |

Compensation Discussion and Analysis

These accomplishments, along with our strong 2023 corporate performance, also guided our compensation-related actions for 2024:

| 2024 highlights                                                                                                                            
 Focus on competitive total compensation and overall employee experience to maintain our high-quality workforce                             |   | 2024 compensation decisions                                                                                                                                                                                                                                                                                                                                                                                                   
 ◾Effective March 3, 2024, we awarded market-aligned salary increases of approximately 4 percent to our workforce, with greater increases for a small number of special cases and promotions as needed.                                                                                                                                                                                                                        
 ◾Our Named Executive Officers also received approximately 4 percent salary increases at that time, other than Mr. Stavros and Mr. Corales, who received a 17 percent and 37 percent salary increase, respectively, in each case, to more closely align our Named Executive Officers’ with the salaries paid to similarly situated executive officers in the 2024 Compensation Peer Group (as defined below).                  
 ◾We strive to maintain competitive pay levels across our organization and continued to focus in 2024 on employee experience, including career advancement, development, flexibility, and culture, and other components of total rewards, both of which are critical to employee retention and attraction.                                                                                                                     
 ◾For 2024, we increased the target total direct compensation for Mr. Stavros, our President and Chief Executive Officer, and Mr. Corales, our Senior Vice President and Chief Financial Officer, to more competitively position them as compared to other similarly situated executive officers. For further information, please see the section below