Form 4: MPLX LP Director John P. Surma Reports Acquisition of Common Units

Director John P. Surma reports acquisition of MPLX LP common units as part of an equity retainer award.

Summary

• On April 1, 2025, John P. Surma, a director of MPLX LP, acquired 220.446 common units of MPLX LP at a price of $0.
• This acquisition was part of a second quarter 2025 equity retainer award prorated for the period beginning April 1, 2025 and ending April 30, 2025.
• Following the transaction, Surma beneficially owns 80,381.091 common units.
• Beginning in May 2025, MPLX's non-management directors will receive an annual equity retainer consisting of one grant in the amount of $125,000, generally made on the day following the annual meeting of shareholders of Marathon Petroleum Corporation (the parent company of MPLX's general partner).

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The director's acquisition of shares is a routine part of their compensation and suggests confidence in the company, but it's not a major event.

Positives

• The acquisition of common units by a director signals confidence in the company's prospects.

Future Outlook

Beginning in May 2025, MPLX's non-management directors will receive an annual equity retainer consisting of one grant in the amount of $125,000, generally made on the day following the annual meeting of shareholders of Marathon Petroleum Corporation (the parent company of MPLX's general partner).

Management Comments

• The Reporting Person is a Director of MPLX GP LLC, the general partner of the Issuer.
• The Issuer is managed by the directors and executive officers of MPLX GP LLC.

Industry Context

Director acquisitions are common in the midstream energy sector, often tied to compensation plans and alignment with shareholder interests.

Comparison to Industry Standards

• Equity retainers for non-management directors are a standard practice in publicly traded companies, including those in the energy sector.
• The specific amount of $125,000 is within the typical range for companies of MPLX's size and market capitalization, but can vary based on company performance and board compensation policies.
• Comparable companies like Enterprise Products Partners (EPD) and Kinder Morgan (KMI) also utilize equity-based compensation for their directors.

Stakeholder Impact

• The director's acquisition of shares aligns their interests with those of shareholders.

Key Dates

Keywords

MPLX LP, John P. Surma, common units, equity retainer, director, acquisition