Company: MGY
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0001558370-25-003377
Chunk: 45

Company: Magnolia Oil & Gas Corp
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 45
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 for 2023 
 (% of Base Salary) | ​ 
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 ​                 
 2023 Total Annual 
 ​                 
 (Dollar Amount)   |                 ​ 
 Bonus Opportunity | ​ 
 ​ |                  ​ 
      Maximum Bonus 
    Goal Percentage 
           for 2024 
 (% of Base Salary) | ​ 
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 2024 Total Annual 
 ​                 
 (Dollar Amount)   |                 ​ 
 Bonus Opportunity |
|:------------------------|-------------------:|:--|:--|:------------------|------------------:|:--|-------------------:|:--|:--|:------------------|------------------:|
| Christopher G. Stavros  |                150 | % | ​ | $                 |         1,092,000 |   |                180 | % | ​ | $                 |         1,530,000 |
| Brian M. Corales        |                110 | % | ​ | $                 |           420,420 |   |                135 | % | ​ | $                 |           708,750 |
| Timothy D. Yang         |                125 | % | ​ | $                 |           631,500 |   |                135 | % | ​ | $                 |           708,750 |
| Steve F. Millican       |                110 | % | ​ | $                 |           440,000 |   |                110 | % | ​ | $                 |           455,400 |

The maximum payout under the 2024 Bonus Program is equal to 100 percent of the total annual bonus opportunity for each Named Executive Officer, and the Compensation Committee aims to establish maximum performance objectives (described in greater detail in the tables below) that are sufficiently rigorous that the expected annual bonus pool funding will, on average, be less than 100 percent of the total annual bonus opportunity amount, with only the top performing employees expected to have an opportunity to earn the maximum.

| ​                  |  ​ | ​                    |
| Magnolia Oil & Gas | 38 | 2025 Proxy Statement |

Compensation Discussion and Analysis

In February 2024, the Compensation Committee approved the performance metrics for the 2024 Bonus Program, as well as the weightings and minimum and maximum performance objectives for