Velarion · Company Intelligence
Compensation Brief
Fiscal year 2024 · Filings through 2026-05-28

Civitas Resources (CIVI)

Fiscal year 2024 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$8,385,769
M. Christopher Doyle total, FY2024
22nd
CEO pay percentile vs peers
48:1
CEO-to-median pay ratio
Say-on-pay support, latest vote
Companies that benchmark against CIVI
10 companies name CIVI as a compensation peer

Each company listed discloses CIVI in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named CIVI in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2024

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
M. Christopher Doyle$1,431,150$0$6,933,919$0$0$0$20,700$8,385,769
President and Chief Executive Officer
Thomas Hodge Walker802,07302,704,88800021,4803,528,441
Former Chief Operating Officer
Marianella Foschi796,83102,687,24800021,4803,505,559
Chief Financial Officer and Treasurer
Travis Counts791,58902,669,54400020,7003,481,833
Chief Administrative Officer and Corporate Secretary
Jeffrey Kelly665,75001,488,79900020,7002,175,249
Former Chief Transformation Officer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2024 totalFY2023 totalFY2022 totalΔ FY20232024
M. Christopher Doyle$8,385,769$12,463,145$9,625,418−4,077,376
Thomas Hodge Walker3,528,4416,292,908−2,764,467
Marianella Foschi3,505,5595,016,1252,683,663−1,510,566
Travis Counts3,481,8334,716,3002,886,477−1,234,467
Jeffrey Kelly2,175,2493,157,698−982,449

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

03

Grants of plan-based awards — fiscal year 2024

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Travis CountsRSU2024-02-1911,262$710,520
M. Christopher DoylePSU2024-02-1968,2556,826153,5745,088,410
Marianella FoschiPSU2024-02-1926,4522,64559,5171,971,997
Jeffrey KellyRSU2024-02-196,281396,268
Thomas Hodge WalkerRSU2024-02-1911,411719,920
M. Christopher DoyleRSU2024-02-1929,2521,845,509
Thomas Hodge WalkerPSU2024-02-1926,6262,66359,9091,984,968
Jeffrey KellyPSU2024-02-1914,6551,46632,9741,092,530
Travis CountsPSU2024-02-1926,2782,62859,1261,959,025
Marianella FoschiRSU2024-02-1911,337715,251
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Travis Counts$710,520$1,959,025$073.4%
M. Christopher Doyle1,845,5095,088,410073.4%
Marianella Foschi715,2511,971,997073.4%
Jeffrey Kelly396,2681,092,530073.4%
Thomas Hodge Walker719,9201,984,968073.4%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2024

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Jeffrey KellyPSU6,281$288,109
Travis CountsPSU4,843222,148
Thomas Hodge WalkerPSU11,411523,423
Travis CountsPSU1,93888,896
M. Christopher DoyleRSU66,0143,028,062
Marianella FoschiRSU26,4521,213,353
Travis CountsRSU6,783311,136
M. Christopher DoylePSU18,792861,989
Marianella FoschiPSU7,313335,447
Travis CountsRSU26,2781,205,372
Travis CountsRSU16,953777,634
Thomas Hodge WalkerRSU26,6261,221,335
Marianella FoschiPSU11,337520,028
Thomas Hodge WalkerRSU24,1381,107,210
M. Christopher DoylePSU18,862865,200
Travis CountsPSU11,262516,588
Jeffrey KellyRSU14,655672,225
Marianella FoschiPSU2,962135,867
M. Christopher DoyleRSU68,2553,130,857
M. Christopher DoylePSU29,2521,341,789
Marianella FoschiRSU25,5971,174,134
Thomas Hodge WalkerPSU21,9231,005,608
Jeffrey KellyRSU12,509573,788
Jeffrey KellyPSU9,072416,133
Travis CountsPSU6,381292,696
05

Incentive-plan design — the Compensation Discussion & Analysis

We strive to create a compensation program that encourages long-term value creation by tying individual compensation to the long-term performance of our stock while acknowledging and fostering the unique qualifications, skills, experience, and responsibilities of each individual. Furthermore, our compensation program aims to increase the alignment of our executive officers' interests with those of our stockholders by generating stronger compensation outcomes for stronger stock performance and weaker compensation outcomes for weaker stock performance.

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultantMeridian Compensation Partners, LLC
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingTrue
07

CEO pay ratio

Ratio (CEO : median employee)48 : 1
CEO total compensation
Median employee compensation$175,040
08

Director compensation — fiscal year 2024

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Wouter van KempenIndependent · Board Chair · Board (Chair) · Audit Committee (Chair) · Sustainability Committee (Chair)$125,000$283,871$408,871
Morris R. ClarkIndependent · Lead Independent Director · Audit Committee (Chair) · Compensation Committee · Nominating and Corporate Governance Committee25,000283,871308,871
Carrie L. HudakIndependent · Audit Committee · Compensation Committee · Nominating and Corporate Governance Committee · Sustainability Committee (Chair)20,000283,871303,871
Howard A. Willard IIIIndependent · Audit Committee · Compensation Committee (Chair) · Nominating and Corporate Governance Committee20,000283,871303,871
Jeffrey E. WojahnIndependent · Audit Committee · Compensation Committee · Nominating and Corporate Governance Committee (Chair)15,000283,871298,871
Deborah ByersIndependent · Audit Committee · Compensation Committee · Nominating and Corporate Governance Committee0283,871283,871
Carrie M. FoxIndependent · Audit Committee · Compensation Committee · Nominating and Corporate Governance Committee0283,871283,871
James M. TrimbleIndependent · Audit Committee · Compensation Committee · Nominating and Corporate Governance Committee0283,871283,871
Lloyd W. "Billy" Helms JrIndependent · Audit Committee · Compensation Committee · Nominating and Corporate Governance Committee · Newly elected0283,871283,871
M. Christopher DoyleEmployee director · Audit Committee · Compensation Committee · Nominating and Corporate Governance Committee000
09

Board fee structure and ownership guideline

Annual cash retainer$125,000
Annual equity retainer$300,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)25,000 / 20,000 / 15,000
Stock ownership guidelinesignificant stock ownership requirements for officers
09b

Total cost of the board

ComponentFY2024
Cash retainers and fees$205,000
Equity awards (grant-date value)$2,554,839
All other compensation$0
Total cost of the board$2,759,839

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2024

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Civitas Resources names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Civitas Resources.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Diamondback Energy, Inc.2025Kaes Van t Hof$1,109,500$11,101,462$0$2,676,350$14,931,423
2Coterra Energy Inc.2024Thomas Jorden1,198,55810,628,85002,500,00014,748,960
3Ovintiv Inc.2025Brendan McCracken1,185,0009,900,00502,136,75013,693,140
4Marathon Oil Corporation2023Lee Tillman1,200,0008,668,14401,980,00012,830,222
5Devon Energy Corporation2025Clay Gaspar938,1259,633,68901,612,00012,566,384
6Permian Resources Corporation2025James Walter011,432,8420011,432,842
7Matador Resources Company2024Joseph Foran1,500,0003,010,30003,900,0008,437,049
8Civitas Resources2024M. Christopher Doyle1,431,1506,933,919008,385,769
9Range Resources Corporation2025Dennis Degner932,5006,143,87701,128,0008,375,421
10SM Energy Company2025Elizabeth McDonald576,3692,299,9950536,0244,475,172
Murphy Oil Corporationnot in coverage universe
Chord Energy Corporationnot in coverage universe
CNX Resources Corporationnot in coverage universe
Southwestern Energy Companynot in coverage universe

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Civitas Resourcesnot disclosedPSU 70 · RSU 30Yes — Absolute TSRMeridian Compensation Partners, LLC
Chord Energy Corporationnot disclosednot disclosednot disclosednot disclosed
CNX Resources Corporationnot disclosednot disclosednot disclosednot disclosed
Coterra Energy Inc.174%PSU 50 · RSU 50Yes — Relative TSRZayla Partners
Devon Energy Corporation124%PSU 60 · RSU 40Yes — Relative TSRMeridian Compensation Partners, LLC
Diamondback Energy, Inc.161%PSU 60 · RSU 40Yes — Total Stockholder Return (relative to TSR performance peer group)Meridian
Marathon Oil Corporation110%PSU 60 · RSU 40NoMeridian Compensation Partners LLC
Matador Resources Company260%PSU 50 · Cash LTI 50NoMeridian Compensation Partners, LLC
Murphy Oil Corporationnot disclosednot disclosednot disclosednot disclosed
Ovintiv Inc.140%RSU 50 · PSU 50Yes — Relative TSRFW Cook
Permian Resources Corporation150%PSU 100Yes — Relative TSRMeridian Compensation Partners, LLC
Range Resources Corporation101%PSU 60 · RSU 40Yes — Total Stockholder Return (TSR)Meridian Compensation Partners, LLC
SM Energy Company93%PSU 60 · RSU 40Yes — Absolute TSRFrederic W. Cook & Co., Inc.
Southwestern Energy Companynot disclosednot disclosednot disclosednot disclosed

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, M. Christopher DoyleDEF 14A2025-04-210001558370-25-005077Section “2024 Summary Compensation Table” · page 41. As printed: 8,385,769. Filing ↗machine: t156 · r5 · c14 · span 1210375–1210384
2Section 01, Thomas Hodge WalkerDEF 14A2025-04-210001558370-25-005077Section “2024 Summary Compensation Table” · page 41. As printed: 3,528,441. Filing ↗machine: t156 · r23 · c14 · span 1287157–1287166
3Section 01, Marianella FoschiDEF 14A2025-04-210001558370-25-005077Section “2024 Summary Compensation Table” · page 41. As printed: 3,505,559. Filing ↗machine: t156 · r11 · c14 · span 1236066–1236075
4Section 01, Travis CountsDEF 14A2025-04-210001558370-25-005077Section “2024 Summary Compensation Table” · page 41. As printed: 3,481,833. Filing ↗machine: t156 · r17 · c14 · span 1261422–1261431
5Section 01, Jeffrey KellyDEF 14A2025-04-210001558370-25-005077Section “2024 Summary Compensation Table” · page 41. As printed: 2,175,249. Filing ↗machine: t156 · r27 · c14 · span 1303539–1303548
6Section 03, Travis Counts RSUDEF 14A2025-04-210001558370-25-005077Section “2024 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t142 · r6 · c4 · span 1086405–1086411
7Section 03, M. Christopher Doyle PSUDEF 14A2025-04-210001558370-25-005077Section “2024 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t165 · r8 · c4 · span 1362356–1362361
8Section 03, Marianella Foschi PSUDEF 14A2025-04-210001558370-25-005077Section “2024 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t165 · r11 · c4 · span 1372086–1372091
9Section 03, Jeffrey Kelly RSUDEF 14A2025-04-210001558370-25-005077Section “2024 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t142 · r8 · c4 · span 1090536–1090541
10Section 03, Thomas Hodge Walker RSUDEF 14A2025-04-210001558370-25-005077Section “2024 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t142 · r7 · c4 · span 1088451–1088457
11Section 03, M. Christopher Doyle RSUDEF 14A2025-04-210001558370-25-005077Section “2024 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t142 · r4 · c4 · span 1082440–1082446
12Section 03, Thomas Hodge Walker PSUDEF 14A2025-04-210001558370-25-005077Section “2024 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t165 · r17 · c4 · span 1392958–1392963
13Section 03, Jeffrey Kelly PSUDEF 14A2025-04-210001558370-25-005077Section “2024 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t165 · r20 · c4 · span 1403239–1403244
14Section 03, Travis Counts PSUDEF 14A2025-04-210001558370-25-005077Section “2024 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t165 · r14 · c4 · span 1382326–1382331
15Section 03, Marianella Foschi RSUDEF 14A2025-04-210001558370-25-005077Section “2024 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t142 · r5 · c4 · span 1084404–1084410
16Section 07, pay ratioDEF 14ASection “CEO Pay Ratio”. As printed: 48 : 1.machine: span 1680021–1680025
17Section 08, Wouter van KempenDEF 14A2025-04-210001558370-25-005077Section “Director Compensation”. As printed: 408,871. Filing ↗machine: t94 · r9 · c6 · span 766808–766815
18Section 08, Morris R. ClarkDEF 14A2025-04-210001558370-25-005077Section “Director Compensation”. As printed: 308,871. Filing ↗machine: t94 · r5 · c6 · span 757759–757766
19Section 08, Carrie L. HudakDEF 14A2025-04-210001558370-25-005077Section “Director Compensation”. As printed: 303,871. Filing ↗machine: t94 · r7 · c6 · span 762229–762236
20Section 08, Howard A. Willard IIIDEF 14A2025-04-210001558370-25-005077Section “Director Compensation”. As printed: 303,871. Filing ↗machine: t94 · r10 · c6 · span 769086–769093
21Section 08, Jeffrey E. WojahnDEF 14A2025-04-210001558370-25-005077Section “Director Compensation”. As printed: 298,871. Filing ↗machine: t94 · r11 · c6 · span 771232–771239
22Section 08, Deborah ByersDEF 14A2025-04-210001558370-25-005077Section “Director Compensation”. As printed: 283,871. Filing ↗machine: t94 · r4 · c4 · span 754947–754954
23Section 08, Carrie M. FoxDEF 14A2025-04-210001558370-25-005077Section “Director Compensation”. As printed: 283,871. Filing ↗machine: t94 · r6 · c4 · span 759420–759427
24Section 08, James M. TrimbleDEF 14A2025-04-210001558370-25-005077Section “Director Compensation”. As printed: 283,871. Filing ↗machine: t94 · r8 · c4 · span 763993–764000
25Section 08, Lloyd W. "Billy" Helms JrDEF 14A2025-04-210001558370-25-005077Section “Director Compensation”. As printed: 283,871. Filing ↗
26Section 08, M. Christopher DoyleDEF 14A2025-04-210001558370-25-005077Section “Director Compensation”. As printed: 0. Filing ↗
27Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
28Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
29Section 09b board cost (computed)ComputedcomputedCash 205,000 + equity 2,554,839 + all other 0 = 2,759,839, summed across the director compensation table rows.machine: formula: Σ = 2,759,839
30Diamondback Energy, Inc., Section 10b CEO totalDEF 14A2026-04-090001308179-26-000242CEO total compensation as printed in Diamondback Energy, Inc.'s own proxy. As printed: 14,931,423. Filing ↗machine: t243 · span 824819–824829
31Coterra Energy Inc., Section 10b CEO totalDEF 14A2025-03-200001104659-25-026126CEO total compensation as printed in Coterra Energy Inc.'s own proxy. As printed: 14,748,960. Filing ↗machine: t61 · r1 · c63 · span 936374–936384
32Ovintiv Inc., Section 10b CEO totalDEF 14A2026-03-250001193125-26-124351CEO total compensation as printed in Ovintiv Inc.'s own proxy. As printed: 13,693,140. Filing ↗machine: r3 · c31 · span 1274573–1274583
33Marathon Oil Corporation, Section 10b CEO totalDEF 14A2024-04-100000101778-24-000082CEO total compensation as printed in Marathon Oil Corporation's own proxy. As printed: 12,830,222. Filing ↗machine: t76 · r2 · c23 · span 726272–726282
34Devon Energy Corporation, Section 10b CEO totalDEF 14A2026-05-280001104659-26-067065CEO total compensation as printed in Devon Energy Corporation's own proxy. As printed: 12,566,384. Filing ↗machine: r1 · c22 · span 1488697–1488707
35Permian Resources Corporation, Section 10b CEO totalDEF 14A2026-04-060001658566-26-000062CEO total compensation as printed in Permian Resources Corporation's own proxy. As printed: 11,432,842. Filing ↗machine: t148 · r5 · c4 · span 957173–957183
36Matador Resources Company, Section 10b CEO totalDEF 14A2025-04-280001520006-25-000125CEO total compensation as printed in Matador Resources Company's own proxy. As printed: 8,437,049. Filing ↗machine: r2 · c6 · span 2079441–2079451
37Civitas Resources (subject), Section 10b CEO totalDEF 14A2025-04-210001558370-25-005077CEO total compensation as printed in Civitas Resources's own proxy. As printed: 8,385,769. Filing ↗machine: t156 · r5 · c14 · span 1210375–1210384
38Range Resources Corporation, Section 10b CEO totalDEF 14A2026-03-310001193125-26-134699CEO total compensation as printed in Range Resources Corporation's own proxy. As printed: 8,375,421. Filing ↗machine: span 2305762–2305771
39SM Energy Company, Section 10b CEO totalDEF 14A2026-04-080000893538-26-000048CEO total compensation as printed in SM Energy Company's own proxy. As printed: 4,475,172. Filing ↗machine: span 673171–673180
40Section 10a, Ovintiv Inc. reciprocityDEF 14A0001193125-26-124351Ovintiv Inc. names Civitas Resources in its own disclosed peer group (read from its most recent proxy). Filing ↗
41Section 10a, Range Resources Corporation reciprocityDEF 14A0001193125-26-134699Range Resources Corporation names Civitas Resources in its own disclosed peer group (read from its most recent proxy). Filing ↗
42Section 10a, SM Energy Company reciprocityDEF 14A0000893538-26-000048SM Energy Company names Civitas Resources in its own disclosed peer group (read from its most recent proxy). Filing ↗
43Section 10a, Coterra Energy Inc. reciprocityDEF 14A0001104659-25-026126Coterra Energy Inc.'s most recent proxy was read; its disclosed peer group does not include Civitas Resources. Filing ↗
44Section 10a, Devon Energy Corporation reciprocityDEF 14A0001104659-26-067065Devon Energy Corporation's most recent proxy was read; its disclosed peer group does not include Civitas Resources. Filing ↗
45Section 10a, Diamondback Energy, Inc. reciprocityDEF 14A0001308179-26-000242Diamondback Energy, Inc.'s most recent proxy was read; its disclosed peer group does not include Civitas Resources. Filing ↗
46Section 10a, Marathon Oil Corporation reciprocityDEF 14A0000101778-24-000082Marathon Oil Corporation's most recent proxy was read; its disclosed peer group does not include Civitas Resources. Filing ↗
47Section 10a, Matador Resources Company reciprocityDEF 14A0001520006-26-000013Matador Resources Company names Civitas Resources in its own disclosed peer group (read from its most recent proxy). Filing ↗
48Section 10a, Permian Resources Corporation reciprocityDEF 14A0001658566-26-000062Permian Resources Corporation names Civitas Resources in its own disclosed peer group (read from its most recent proxy). Filing ↗