Company: MGY
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0001558370-25-003377
Chunk: 39

Company: Magnolia Oil & Gas Corp
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 39
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 Officers’ long term equity-based compensation is subject to performance-based vesting conditions tied to stock price appreciation or relative TSR metrics. |
| Align with Stockholders’ Interests | ■Our 2024 annual bonus program primarily focuses on financial metrics we believe will lead to value creation and are strongly aligned with our business strategy.                                      
 ■We provide a significant portion of compensation in the form of long term equity-based awards.                                                                                                        
 ■Our PSU awards cap payouts at target level in the event the Company’s absolute TSR for the performance period is negative.                                                                            |

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| Magnolia Oil & Gas | 33 | 2025 Proxy Statement |

Compensation Discussion and Analysis

Setting Executive Compensation Under its charter, the Compensation Committee administers and determines the parameters of our executive officer compensation program, including appropriate target levels and performance measures and the allocation between short term and long term compensation and cash and equity-based awards, in order to establish an overall compensation program it believes is appropriate for each Named Executive Officer. The Compensation Committee has primary authority for determining and approving incentive and equity-based compensation and our other executive compensation policies and practices to ensure adherence to our compensation philosophies and objectives. In making decisions, the Compensation Committee considers, among other factors:

| ◾ | Individual and Company performance relating to each Named Executive Officer’s position at the Company; |

| ◾ | Alignment of Named Executive Officer compensation with short term and long term Company performance; |

| ◾ | Competitiveness of compensation with Compensation Peer Group (as defined below) companies, internal pay equity among individuals with similar expertise levels and experience, and the unique skill sets of the individual; |

| ◾ | Market demand for individuals with the Named Executive Officer’s specific expertise and experience; |

| ◾ | Data and analysis provided by the Compensation Committee’s independent compensation consultant; |

| ◾ | General industry compensation data; and |

| ◾ | The Named Executive Officer’s background, experience, and circumstances, including prior related work experience and training. |

The Compensation Committee generally seeks to provide total compensation to our Named Executive Officers that is competitive with the total compensation provided to similarly situated officers at companies within our Compensation Peer Group. However, the Compensation Committee retains discretion to allow for individual adjustments based on factors and considerations specific to the individual. The Compensation Committee annually evaluates our Chief Executive Officer and is solely responsible for determining his compensation package. Each year, our Chief Executive Officer evaluates each of the other Named Executive Officers and makes compensation recommendations to the Compensation Committee considering