Form 4: Marathon Petroleum Executive Sells Shares to Cover Tax Obligations

A Marathon Petroleum executive sold 73 shares of common stock to cover tax obligations related to stock awards.

Summary

• Shawn M. Lyon, a Senior Vice President at Marathon Petroleum, sold 73 shares of common stock on December 13, 2024.
• The sale was executed at a price of $145.56 per share.
• This transaction was to cover tax obligations related to stock awards.
• Following the transaction, Mr. Lyon directly owns 14,245 shares of Marathon Petroleum stock.
• He also indirectly owns 2,849.93 shares through a 401(k) plan, which includes 57.39 shares acquired through dividend reinvestment and a deduction of 0.042 shares for an administrative fee.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing for an executive stock sale, which is neutral in sentiment. It does not indicate any positive or negative news about the company's performance.

Industry Context

This is a routine filing related to an executive's stock transactions and is common in publicly traded companies. It does not indicate any specific trend or issue within the industry.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies in the US, and this transaction is consistent with typical executive stock sales for tax purposes.
• Other companies in the oil and gas sector, such as ExxonMobil (XOM) and Chevron (CVX), also have executives who regularly file Form 4s for similar transactions.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a small sale by an executive for tax purposes.

Key Dates

Keywords

Marathon Petroleum, MPC, stock sale, insider trading, executive, Form 4, share transaction, tax obligations, equity securities