Company: MGY
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0001558370-25-003377
Chunk: 30

Company: Magnolia Oil & Gas Corp
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 30
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imbursement of Expenses Each non-employee director is reimbursed for business-related travel and miscellaneous expenses to attend meetings and activities of the Board or its committees, subject to such substantiation requirements as the Company may require. Equity Awards Each non-employee director who is elected at an Annual Meeting of Stockholders receives an annual equity award in the form of restricted stock units (“RSUs”) granted under the Magnolia Oil & Gas Corporation Long Term Incentive Plan, as amended from time to time (the “Long Term Incentive Plan”).

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| Magnolia Oil & Gas | 27 | 2025 Proxy Statement |

Director Compensation In determining the number of RSUs subject to the annual equity awards granted to our non-employee directors in 2024, we divided the annual equity award target value of $165,000 by the 20-day average closing price of our Class A Common Stock up to and including May 6, 2024, the last trading day before our 2024 Annual Meeting of Stockholders. Based on this calculation, each non-employee director who was elected at the 2024 Annual Meeting of Stockholders received an annual equity award of 6,364 RSUs granted on May 7, 2024, except for our non-executive Chairman. Mr. Smith received an annual equity award at that time equal to 9,257 RSUs, which was comprised of his annual equity retainer and his supplemental equity retainer for services as non-executive Chairman. If a non-employee director first joins the Board other than at an Annual Meeting of Stockholders, the director will receive an initial equity award in the form of RSUs upon such non-employee director’s appointment to the Board, with the amount of the award pro-rated to reflect the period of time remaining in the Board term during which the appointment occurs. Mr. Khani received such an initial RSU award upon his appointment to the Board in February 2024. In determining the number of RSUs subject to the initial RSU award granted Mr. Khani, we divided the annual equity award target grant value of $165,000 by the 20-day average closing price of our Class A Common Stock up to and including February 5, 2024 (the last trading day before Mr. Khani’s appointment), and then multiplied that number by a fraction representing the remainder of the then-current Board term. Based on this calculation, Mr. Khani received an initial equity award of