Form 4: Marathon Petroleum Director John P. Surma Reports Changes in Beneficial Ownership

Director John P. Surma reports equity retainer award and dividend reinvestment impacting beneficial ownership of Marathon Petroleum Corp shares.

Summary

• John P. Surma, a director of Marathon Petroleum Corp, filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
• On April 1, 2025, Surma acquired 93.586 shares as part of his second quarter equity retainer award, prorated for the period beginning April 1, 2025 and ending April 30, 2025.
• The shares were acquired at a price of $0.
• Surma also reported owning 57,680.634 shares, which includes 382.039 shares acquired through dividend reinvestment and not previously reported.
• Additionally, Surma indirectly owns 10,000 shares through his wife's revocable trust.

Sentiment

Score: 7

Explanation: The document reflects standard corporate governance practices and director compensation, indicating a neutral to slightly positive sentiment due to alignment of interests.

Positives

• The acquisition of shares through the equity retainer award demonstrates a continued investment in the company by a director.
• Dividend reinvestment indicates a long-term investment strategy and confidence in the company's performance.

Future Outlook

The document outlines the standard equity retainer program for non-management directors, with an annual grant of $185,000 beginning in May 2025.

Industry Context

Director share ownership and equity compensation are common practices in publicly traded companies to align the interests of management with those of shareholders. This filing reflects standard compensation practices.

Comparison to Industry Standards

• Equity retainer programs for non-management directors are a common practice among S&P 500 companies.
• The annual equity retainer of $185,000 is within the typical range for companies of Marathon Petroleum's size and industry.
• Companies like ExxonMobil (XOM) and Chevron (CVX) also utilize similar equity compensation structures for their board members.

Stakeholder Impact

• The reported transactions have a minor positive impact on shareholders by demonstrating director commitment.
• The transactions do not have a significant impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

Form 4, beneficial ownership, Marathon Petroleum Corp, MPC, director, equity retainer, dividend reinvestment, John P. Surma