Company: MGY
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0001558370-25-003377
Chunk: 42

Company: Magnolia Oil & Gas Corp
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 42
---
 percent tied to quantitative performance metrics of Operating Margin, Free Cash Flow Percentage, and Net Debt to EBITDAX, each weighted at 25 percent, and                                                                                                                                                              
 ◾25 percent tied to qualitative performance metrics designed to focus the Named Executive Officers on executing on Company-wide performance goals                                                                                                                                                                           |
| ■Time-based RSUs         
 ■PSUs                    
 ■PRSUs                   | Reward creation of long term stockholder value and achievements consistent with our long term business strategies                       | ◾RSUs granted in 2024 have a three year continued service requirement for full vesting that provides a retention incentive                                                                                                                                                                                                  
 ◾PSUs granted in 2023 and 2024 motivate improvement in stockholder value to further align executive and stockholder interests, with the number of shares ultimately received dependent upon our relative TSR performance over the three year performance period                                                             
 ◾PRSUs granted in 2022 were subject to a stock price appreciation performance-vesting condition and continued service vesting requirements, with approximately 50 percent of the PRSUs subject to three year annual ratable time-vesting and the remaining 50 percent of the PRSUs subject to three year cliff time-vesting |
|                          | Align Named Executive Officer compensation with changes in stockholder value                                                            |                                                                                                                                                                                                                                                                                                                             |

Please see the “Proxy Statement Overview” section of this proxy statement for a breakdown of the target pay mix of our Named Executive Officers for 2024 among these key direct compensation components.

| ​                  |  ​ | ​                    |
| Magnolia Oil & Gas | 36 | 2025 Proxy Statement |

Compensation Discussion and Analysis

2024 Compensation Decisions Target Total Direct Compensation The Compensation Committee, in consultation with FW Cook, reviews target total direct compensation for each Named Executive Officer to ensure that it is appropriately positioned relative to similarly situated executive officers in the Compensation Peer Group (or the broader market survey data, in the case of our former Senior Vice President, Operations), taking into consideration the individual Named Executive Officer’s experience, performance, duties and responsibilities, tenure in the role, internal pay equity, and other relevant factors. For 2024, the Compensation Committee approved increases to the target total direct compensation of the Company’s two newest-in-role Named Executive Officers to more competitively position them as compared to other similarly situated executive officers. Specifically, 2024 target total direct compensation for Mr. Stavros, our President and Chief Executive Officer, was increased 56 percent to reflect his strong performance during his tenure and the Compensation Committee’s