Form 4: Marathon Petroleum Director Frank Semple Reports Equity Award and Dividend Reinvestment

Director Frank Semple reports receiving an equity retainer award and dividend reinvestment shares in Marathon Petroleum Corp.

Summary

• Frank M. Semple, a director of Marathon Petroleum Corp (MPC), reported changes in beneficial ownership of MPC common stock.
• On April 1, 2025, Semple acquired 93.586 shares as part of a prorated equity retainer award for the second quarter of 2025, valued at $0 per share.
• Semple also acquired 81.863 shares through dividend reinvestment, which were not previously reported.
• Following these transactions, Semple beneficially owns 12,433.092 shares of MPC common stock.

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation practices and routine transactions, suggesting a neutral to slightly positive sentiment due to alignment of director interests with shareholders.

Positives

• The director's equity retainer aligns his interests with those of shareholders.
• Dividend reinvestment indicates a long-term investment perspective.

Future Outlook

Starting in May 2025, MPC's non-management directors will receive an annual equity retainer consisting of one grant in the amount of $185,000, generally made on the day following MPC's annual meeting of shareholders.

Industry Context

Director compensation through equity awards is a common practice in the oil and gas industry to align management's interests with shareholder value.

Comparison to Industry Standards

• Equity compensation for board members is a standard practice across S&P 500 companies, including peers like ExxonMobil (XOM) and Chevron (CVX).
• The specific amount and vesting schedules can vary, but the goal is generally to incentivize long-term value creation.
• The $185,000 annual equity retainer appears to be within the typical range for companies of Marathon Petroleum's size and industry.

Stakeholder Impact

• Shareholders: The equity award aligns director interests with shareholder value.
• Employees: No direct impact.
• Customers: No direct impact.
• Suppliers: No direct impact.
• Creditors: No direct impact.

Key Dates

Keywords

Form 4, Marathon Petroleum, MPC, Director, Equity Retainer, Dividend Reinvestment, Beneficial Ownership, Frank Semple