Company: MGY
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0001558370-25-003377
Chunk: 27

Company: Magnolia Oil & Gas Corp
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 27
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 any proceeds from the sale of shares of Class A Common Stock by the EnerVest Members. In connection with Magnolia’s declaration of cash dividends to date since the beginning of the 2024 fiscal year, as applicable: (i) on February 5, 2024, Magnolia LLC declared a cash distribution of $0.13 per Magnolia LLC Unit and $2.8 million was distributed to the EnerVest Members in the aggregate on March 1, 2024, (ii) on May 2, 2024, Magnolia LLC declared a cash distribution of $0.13 per Magnolia LLC Unit and $2.8 million was distributed to the EnerVest Members in the aggregate on June 3, 2024, (iii) on July 29, 2024, Magnolia LLC declared a cash distribution of $0.13 per Magnolia LLC Unit and $1.4 million was distributed to the EnerVest Members in the aggregate on September 3, 2024, (iv) on October 28, 2024, Magnolia LLC declared a cash distribution of $0.13 per Magnolia LLC Unit and $0.7 million was distributed to the EnerVest Members in the aggregate on December 2, 2024, and (v) on February 3, 2025, Magnolia LLC declared a cash distribution of $0.15 per Magnolia LLC Unit and $0.8 million was distributed to the EnerVest Members in the aggregate on March 3, 2025. Upon entry into the Magnolia LLC Agreement, Magnolia became the sole managing member of Magnolia LLC. Since the closing of the Business Combination, Magnolia has operated its business through Magnolia LLC and its subsidiaries. As of March 10, 2025, Magnolia (and its subsidiary Magnolia Oil & Gas Holdings, LLC) owned approximately 97.2percent of the interest in Magnolia LLC, and the noncontrolling interest was 2.8percent. Registration Rights Agreement In connection with the closing of the Business Combination, Magnolia entered into a registration rights agreement (the “Registration Rights Agreement”) with certain funds affiliated with EnerVest, TPG Pace Energy Sponsor, LLC (“Sponsor”), and Magnolia’s independent directors prior to the Business Combination (including Ms. Acosta, Mr. Djerejian, and Mr. Smith) (collectively, the “Holders”), pursuant to