Company: MGY
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0001558370-25-003377
Chunk: 62

Company: Magnolia Oil & Gas Corp
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 62
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055 |   |  42,083 |   |                — |   | $            |   592,522 | ​ |
| ​              |   | 2/13/2024 | ​ | ​                               |       — | ​ | ​      |         — | ​ | ​       |         — |   |                           — |   |       — |   |       — |   |           28,055 |   | $            |   570,639 | ​ |
| ​              | ​ | ​         | ​ | ​                               |       ​ | ​ | ​      |         ​ | ​ | ​       |         ​ | ​ |                           ​ | ​ |       ​ | ​ |       ​ | ​ |                ​ | ​ | ​            |         ​ | ​ |

| (1) | Reflects possible cash payouts under our 2024 Bonus Program, which is administered pursuant to our Long Term Incentive Plan and is described in further detail in “Compensation Discussion and Analysis—2024 Compensation Decisions—Annual Incentive Program.” |

There is no “Target” payout level under the 2024 Bonus Program; however, the “Target” level reported in this table reflects each Named Executive Officer’s maximum bonus goal percentage multiplied by the officer’s annual salary rate in effect on December 31, 2024 and is also the “Maximum” possible total bonus payment that each Named Executive Officer could receive under the 2024 Bonus Program, referred to as the total annual bonus opportunity. In other words, payouts under the 2024 Bonus Program can range from 0 percent up to 100 percent of a Named Executive Officer’s total annual bonus opportunity if performance meets or exceeds the maximum possible performance level for all performance metrics. Each of the three quantitative performance measures under the 2024 Bonus Program—Operating Margin, Free Cash Flow Percentage, and Net Debt to EBITDAX—comprises 25 percent of the total annual bonus opportunity and includes a range of performance outcomes between specified minimum and maximum performance levels, along with a corresponding payout range. Please see the “Performance Outcomes” table in the section titled “Compensation Discussion and Analysis—2024 Compensation Decisions—Annual Incentive Program” for information on the applicable minimum performance levels and corresponding minimum payout levels that apply with respect to each of the three quantitative measures (for example, for the Operating Margin component, if the 30 percent minimum performance level was attained, then 30 percent of the potential payout amount attributable