Company: MGY
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0001558370-25-003377
Chunk: 44

Company: Magnolia Oil & Gas Corp
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 44
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) |
|:-----------------------|:------------------------|:-----------------|--------------------------:|:--|:-----------------|--------------------------:|
| Christopher G. Stavros | ​                       | $                |                   728,000 | ​ | $                |                   850,000 |
| Brian M. Corales       | ​                       | $                |                   382,200 | ​ | $                |                   525,000 |
| Timothy D. Yang        | ​                       | $                |                   505,200 | ​ | $                |                   525,000 |
| Steve F. Millican      | ​                       | $                |                   400,000 | ​ | $                |                   414,000 |

Annual Incentive Program For 2024, our Named Executive Officers were eligible to earn cash bonus awards under the annual short term incentive program (the “2024 Bonus Program”) established by the Compensation Committee and administered pursuant to our Long Term Incentive Plan. In October 2023, FW Cook provided the Compensation Committee with an overview of developing incentive plan design trends within the oil and gas industry and a summary of peer group practices for annual incentive plan design, which informed the design of our 2024 Bonus Program. The awards under the 2024 Bonus Program are based upon the level of achievement across certain quantitative Company performance metrics, which emphasize Company financial performance and support our business strategy and investor proposition, as well as a qualitative performance assessment by the Compensation Committee. In February 2024, the Compensation Committee approved the potential bonus amounts, expressed as a percentage of base salary, that may be earned by each Named Executive Officer under the 2024 Bonus Program, referred to as the “maximum bonus goal percentage.” Adjustments were made to the maximum bonus goal percentages of certain Named Executive Officers for 2024 to competitively position their target total direct compensation relative to the applicable market

| ​                  |  ​ | ​                    |
| Magnolia Oil & Gas | 37 | 2025 Proxy Statement |

Compensation Discussion and Analysis

data. To calculate the total annual bonus opportunity, the 2024 maximum bonus goal percentages are applied to the base salary rates of the Named Executive Officers in effect as of December 31, 2024. The total annual bonus opportunity for each Named Executive Officer in the 2024 Bonus Program was as follows:

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 Named Executive Officer |                  ​ 
      Maximum Bonus 
    Goal Percentage