Form 4: Murphy USA CEO Transfers Phantom Stock Units

Murphy USA Inc. CEO Andrew Clyde transferred 3,500 phantom stock units within an excess benefit plan, valued at $391.69 per unit.

Summary

• Andrew Clyde, Chief Executive Officer and Director of Murphy USA Inc. (MUSA), reported a transaction involving phantom stock units.
• The transaction, dated December 9, 2025, involved the transfer of 3,500 phantom stock units.
• Each phantom stock unit is equivalent to one share of Murphy USA Inc. common stock.
• The transfer occurred from Clyde's phantom stock account to another investment alternative within Murphy USA Inc.'s excess benefit plan.
• The value of the derivative security (phantom stock unit) at the time of transfer was $391.69.
• Following this transaction, Clyde beneficially owns 18,319.648 phantom stock units directly.
• The phantom stock units are settled in cash upon the Reporting Person's retirement or other termination of service.
• The filing indicates this transaction was made pursuant to a contract, instruction, or written plan for the purchase or sale of equity securities of the issuer, intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Sentiment

Score: 5

Explanation: The transaction is a neutral internal transfer of phantom stock units within an executive's compensation plan, not an open market sale or purchase, and is consistent with a pre-arranged 10b5-1 plan. It does not indicate a positive or negative sentiment towards the company's prospects.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction, beyond the nature of the phantom stock units being settled upon retirement or termination of service.

Management Comments

• The phantom stock units will be settled in cash upon the Reporting Person's retirement or other termination of service.
• The Reporting Person may transfer the value of his phantom stock units into an alternative investment account under the excess benefit plan at any time prior to settlement.

Industry Context

This Form 4 filing details an internal compensation-related transaction by a key executive. It does not provide information directly related to broader industry trends or competitive landscape for Murphy USA Inc. The transaction is specific to the executive's personal investment choices within a company benefit plan.

Stakeholder Impact

• Shareholders: The transaction is an internal rebalancing within an executive compensation plan and is unlikely to have a direct material impact on shareholders. It reflects a standard aspect of executive compensation and personal financial planning.

Key Dates

Keywords

Murphy USA Inc., MUSA, Andrew Clyde, CEO, Director, Form 4, SEC filing, phantom stock, insider transaction, excess benefit plan, Rule 10b5-1