Company: MGY
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0001558370-25-003377
Chunk: 18

Company: Magnolia Oil & Gas Corp
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 18
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 and Corporate Governance Guidelines We have adopted a Code of Business Conduct and Ethics applicable to the directors, officers, and employees of the Company and its subsidiaries. We have also adopted Corporate Governance Guidelines that address, among other things, director qualifications, responsibilities, and compensation, director access to officers, employees and advisors, and determinations regarding director independence. Copies of the Code of Business Conduct and Ethics and our Corporate Governance Guidelines are available in the Sustainability—Corporate Governance section of our website at www.magnoliaoilgas.com. We intend to disclose any amendments to, or waivers from, our Code of Business Conduct and Ethics that apply to senior executives by posting such information, if any, on the Company’s website.

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| Magnolia Oil & Gas | 18 | 2025 Proxy Statement |

Corporate Governance

Committees of the Board of Directors Our Bylaws authorize the Board to appoint such committees as it deems advisable, with each committee having the authority to perform the duties determined by the Board. Each of the Board’s three standing committees reports to the Board and is comprised entirely of independent directors. The composition, duties, and responsibilities of these committees are set forth below.

|                          | ​ |                                                                                                                                                                       | ​ |                  |
| Audit Committee          |   |                                                                                                                                                                       |   |                  |
| Members                  |   | Primary Responsibilities                                                                                                                                              |   | Meetings in 2024 |
| ■James R. Larson (Chair) 
 ■David M. Khani          
 ■R. Lewis Ropp           
 ■Dan F. Smith            
 ■Shandell M. Szabo       | ​ | ◾Audits and the integrity of the Company’s financial statements;                                                                                                      
 ◾The Company’s processes relating to risk management and the conduct and systems of internal control over financial reporting and disclosure controls and procedures; 
 ◾The qualifications, engagement, compensation, independence, and performance of the Company’s independent auditor; and                                                
 ◾The performance of the Company’s internal audit function.                                                                                                            | ​ |                4 |

Under the NYSE listing standards and applicable SEC rules, the Company is required to have at least three members on the Audit Committee, all of whom must be independent. Currently, the Audit Committee consists of Messrs. Khani, Larson, Ropp, and Smith and Ms. Szabo, with Mr. Larson serving as the chair. The Board has determined that Messrs. Khani, Larson, Ropp, and Smith and Ms. Szabo qualify as