Company: MGY
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0001558370-25-003377
Chunk: 52

Company: Magnolia Oil & Gas Corp
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 52
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 Discussion and Analysis

acquisition. If a peer group company files for bankruptcy, liquidates due to insolvency, or is delisted, the company’s TSR is deemed to be negative 100 percent and, if multiple peer group companies file for bankruptcy, liquidate, or are delisted during the performance period, such members will be ranked in the order of when such event occurs, with earlier bankruptcies, liquidations, and delistings ranking lower than later ones. TSR is calculated as the change in stock price plus dividends over the performance period, assuming that the dividends were reinvested in the applicable company. At the end of the performance period, the companies in the TSR Peer Group, including the Company, will be arranged by their respective TSRs to determine relative TSR. Payout of the PSU awards is determined in accordance with the following schedule:

| ​           | ​ | ​                         | ​ |            ​ | ​ |
| ​           |   | Relative TSR Performance  |   |  Earned PSUs |   |
| Level       |   | -Percentile Rank v. Peers | ​ | -% of Target |   |
| < Threshold |   | < 30th percentile         |   |            0 | % |
| Threshold   |   | 30th percentile           |   |           50 | % |
| Target      |   | 50th percentile           |   |          100 | % |
| Maximum     |   | ≥ 80th percentile         |   |          150 | % |

The percentage of the target number of PSUs that become earned PSUs for performance between threshold, target and maximum achievement levels will be calculated using linear interpolation. If the Company’s absolute TSR at the end of the performance period is negative, then the ultimate payout of the PSUs will be capped at target level, regardless of the Company’s actual percentile ranking for the performance period. For a discussion of the treatment of outstanding long term equity-based incentive awards in the event of a Named Executive Officer’s termination of employment or the occurrence of a change in control, please see the section below titled “Executive Compensation—Potential Payments Upon Termination or a Change of Control.” Information regarding the performance of the Named Executive Officers’ outstanding PSU awards as of December 31, 2024 can be found in the section below titled “Executive Compensation—Outstanding Equity Awards at 2024 Fiscal Year-End.” Other Compensation Severance and Change in Control Benefits We have not entered into any employment agreements with our