Form 4: Marathon Petroleum Director Jonathan Z. Cohen Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Director Jonathan Z. Cohen reports acquisition and disposal of Marathon Petroleum Corp (MPC) common stock on April 1, 2025, including an equity retainer award and dividend reinvestment.
Summary
- Jonathan Z. Cohen, a director of Marathon Petroleum Corp (MPC), filed a Form 4 detailing changes in beneficial ownership.
- On April 1, 2025, Cohen acquired 93.586 shares of common stock as part of a prorated equity retainer award for the period beginning April 1, 2025 and ending April 30, 2025.
- The equity retainer award is valued at $0 per share.
- Cohen also disposed of shares.
- Additionally, Cohen's holdings include 91.71 shares acquired through dividend reinvestment, which were not previously reported.
- Following these transactions, Cohen beneficially owns 13,917.533 shares of MPC common stock.
Sentiment
Score: 7
Explanation: The document is a routine regulatory filing, indicating standard corporate governance practices. The equity retainer suggests a positive alignment of interests between the director and shareholders.
Positives
- The equity retainer award indicates continued alignment of director interests with shareholder value.
Future Outlook
The document outlines the structure of future equity retainer awards for non-management directors, beginning in May 2025.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- Shareholders are informed about changes in ownership by a company director.
Key Dates
| Date | Description |
|---|---|
| 04/01/2025 | Date of transaction: acquisition of shares via equity retainer and disposal of shares. |
| 04/03/2025 | Date of signature on the Form 4 filing. |
| May 2025 | Beginning 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. |
Keywords
Form 4, Beneficial Ownership, Marathon Petroleum, MPC, Director, Equity Retainer, Dividend Reinvestment, Jonathan Z. Cohen
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