Company: MGY
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0001558370-25-003377
Chunk: 80

Company: Magnolia Oil & Gas Corp
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 80
---
 2024; (b) the Median Employee’s cash bonus compensation for fiscal year 2024; (c) the grant date fair value, calculated in accordance with FASB ASC Topic 718, of RSUs granted to the Median Employee during 2024; and (d) the amount of Company-paid contributions made on the Median Employee’s behalf to our 401(k) plan for 2024. No amounts were included with respect to premiums or other amounts paid by us for health and welfare benefits under our non-discriminatory benefit plans. |

Consistent with Instruction 2 to Item 402(u) of Regulation S-K, for purposes of providing the annual pay ratio disclosure, Magnolia may use the same “median employee” for up to three consecutive years, and calculate and disclose total compensation for that employee each year during the period; provided that, during the last completed fiscal year, there has been no change to the employee population or employee compensation arrangements that we reasonably believe would result in a significant change to our pay ratio disclosure. We have reviewed our employee population and employee compensation arrangements for 2024 and believe that there have been no changes that would significantly impact our pay ratio disclosure. As a result, we used the same Median Employee for this 2024 CEO pay ratio disclosure as we did for our 2023 CEO pay ratio disclosure. The methodology used to identify the median of the annual total compensation of our employees (excluding our President and Chief Executive Officer) for purposes of our 2023 CEO pay ratio disclosure was as follows:

| ◾ | We then used the amount of salary and other wages from our payroll records as reported to the Internal Revenue Service in box 5 of Form W-2 for fiscal year 2023, which amount was consistently applied for each of the 246 employees included in the calculation, to rank the compensation of all such employees. In making this determination, we elected to annualize the box 5 compensation (other than any one-time payments) of any full-time or part-time employees who did not work the full fiscal year. We selected as our Median Employee an individual whose applicable Form W-2 compensation was within $687 of the exact median compensation amount. |

The foregoing pay ratio disclosure is a reasonable estimate calculated in a manner consistent with Item 402(u) of Regulation S-K and the SEC guidance promulgated thereunder.

| ​                  |  ​ | ​                    |
| Magnolia Oil & Gas | 60 | 2025 Proxy Statement |

Pay Versus Performance