Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-06-16

Conocophillips (COP)

Fiscal year 2025 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.

$23,450,085
Ryan Lance total, FY2025
67th
CEO pay percentile vs peers
110.7:1
CEO-to-median pay ratio
95.99%
Say-on-pay support, latest vote
Companies that benchmark against COP
16 companies name COP as a compensation peer

Each company listed discloses COP 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 COP 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 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Ryan Lance$1,800,000$0$16,543,434$0$4,590,000$0$516,651$23,450,085
Chairman and Chief Executive Officer
Nicholas Olds996,31204,234,89501,494,4681,000,304293,3768,019,355
Executive Vice President, Lower 48 and Global HSE
William Bullock762,98004,878,45401,316,141738,661145,7737,842,009
Executive Vice President and Chief Financial Officer (retired)
Kelly Rose951,98403,797,98501,356,577236,698149,5946,492,838
Senior Vice President, Legal, General Counsel and Corporate Secretary
Andrew O'Brien857,04203,877,60401,194,502300,371119,3596,348,878
Chief Financial Officer and Executive Vice President, Strategy and Commercial
Kirk Johnson857,04203,877,60401,194,502239,80999,1116,268,068
Executive Vice President, Global Operations and Technical Functions

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 officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
Ryan Lance$23,450,085
Nicholas Olds8,019,355
William Bullock7,842,009
Kelly Rose6,492,838
Andrew O'Brien6,348,878
Kirk Johnson6,268,068

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

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Ryan Michael LanceDirector2026-03-31D113,221$133$15,025,389CommonForm 4 ↗
Nicholas OldsExecutive Vice President2026-03-31D1,90300CommonForm 4 ↗
William H. McRavenDirector2026-04-15A2,230CommonForm 4 ↗
Timothy A. LeachDirector2026-04-15A2,23000Derivative, Class A CommonForm 4 ↗
Timothy A. LeachDirector2026-04-15A2,230CommonForm 4 ↗
William H. McRavenDirector2026-04-15A2,23000Derivative, Class A CommonForm 4 ↗
Andrew D. LundquistSenior Vice President2026-06-01D2,93600Derivative, Class A CommonForm 4 ↗
Andrew D. LundquistSenior Vice President2026-06-01A2,936CommonForm 4 ↗
Andrew D. LundquistSenior Vice President2026-06-01D1,325116154,310CommonForm 4 ↗
Sharmila MulliganDirector2026-06-10D1,974119234,906CommonForm 4 ↗
Robert A. NiblockDirector2026-06-15A32211236,122Derivative, Class A CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Ryan LancePSU2024-02-13$16,543,434
Kirk JohnsonPSU3,877,604
Kelly RosePSU2024-02-133,797,985
Nicholas OldsPSU2024-02-134,234,895
William BullockPSU2024-02-134,878,454
Andrew O'BrienPSU3,877,604
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Ryan Lance$0$16,543,434$0100.0%
Kirk Johnson03,877,6040100.0%
Kelly Rose03,797,9850100.0%
Nicholas Olds04,234,8950100.0%
William Bullock04,878,4540100.0%
Andrew O'Brien03,877,6040100.0%

% 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 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Ryan LanceRSU435,492$40,766,415
Ryan LancePSU206,87819,365,827
Kelly RoseRSU53,6745,024,411
William BullockRSU92,8628,692,836
Nicholas OldsRSU56,6315,301,220
Nicholas OldsPSU52,9654,958,029
Kelly RosePSU51,6234,832,435
Kirk JohnsonRSU34,9423,270,964
Ryan LancePSU46,0944,314,852
Kirk JohnsonPSU46,0944,314,852
Ryan LanceRSU34,7813,255,804
William BullockPSU25,6112,397,415
05

Incentive-plan design — the Compensation Discussion & Analysis

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultant
Clawback policy
Anti-hedging
Anti-pledging
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-12943,706,42239,445,9692,594,76495.99%Passed
20252025-05-13941,241,70331,714,2103,379,20896.41%Passed
20242024-05-14886,492,95937,485,3852,361,88695.7%Passed
20222022-05-10613,581,961396,011,9166,966,51060.78%Passed
20212021-05-11961,950,46875,831,9113,297,62392.4%Passed
20202020-05-12708,356,98567,790,4054,950,52390.69%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-05-1295.99%a
20252025-05-1396.41%b
20242024-05-1495.7%c

a. Voting standard not stated in the filing.

b. Approved under the standard stated in the filing — “Abstentions, broker non-votes and failures to vote have the same effect as a vote against this Proposal 4.”.

c. Approved under the standard stated in the filing — “In contrast, abstentions will have the same effect as a vote "AGAINST" a proposal.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)110.7 : 1
CEO total compensation$23,469,730
Median employee compensation$212,063
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Robert A. NiblockIndependent · Lead Independent Director · Committee on Directors Affairs (Chair) · Human Resources and Compensation$193,114$220,089$0$0$22,498$435,701
Jeffrey A. JoerresIndependent · Human Resources and Compensation (Chair) · Committee on Directors Affairs147,500220,0890019,920387,509
Arjun N. MurtiIndependent · Audit and Finance (Chair) · Human Resources and Compensation157,500220,089000377,589
Nelda J. ConnorsIndependent · Audit and Finance · Public Policy and Sustainability132,994220,0890020,166373,249
David T. SeatonIndependent · Public Policy and Sustainability (Chair) · Committee on Directors Affairs147,500220,089000367,589
Gay Huey Evans CBEIndependent · Human Resources and Compensation · Committee on Directors Affairs137,500220,089007,512365,101
Dennis V. ArriolaIndependent · Audit and Finance · Public Policy and Sustainability132,500220,089003,750356,339
William H. McRavenIndependent · Audit and Finance · Public Policy and Sustainability132,500220,089000352,589
Sharmila MulliganIndependent · Audit and Finance · Public Policy and Sustainability132,500220,089000352,589
R.A. WalkerIndependent · Audit and Finance · Committee on Directors Affairs130,417220,089000350,506
Kathleen A. McGintyIndependent · Audit and Finance · Public Policy and Sustainability · Newly elected66,250110,007000176,257
Timothy A. LeachNot independent · Public Policy and Sustainability Committee38,95800038,80677,764
Ryan M. LanceEmployee director · Board Chair · Executive Committee00000
09

Board fee structure and ownership guideline

Annual cash retainer$115,000
Annual equity retainer$220,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)35,000 / 27,500
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$1,549,233
Equity awards (grant-date value)$2,310,897
All other compensation$112,652
Total cost of the board$3,972,782

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

10

Disclosed peer group — fiscal year 2025

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 Conocophillips 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 Conocophillips.

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
1ExxonMobil2025Darren Woods$2,058,000$25,886,250$0$0$32,998,628
2Chevron2025Michael Wirth1,900,00013,524,9954,376,6403,562,50026,828,240
3Conocophillips2025Ryan Lance1,800,00016,543,43404,590,00023,450,085
4EOG Resources2025Ezra Yacob1,434,61512,729,62802,718,80017,576,636
5DiamondBack Energy2025Kaes Van t Hof1,109,50011,101,46202,676,35014,931,423
6APA Corporation2025John Christmann IV1,300,0006,018,4361,897,9963,454,36013,202,517
7Devon Energy2025Clay Gaspar938,1259,633,68901,612,00012,566,384

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
Conocophillipsnot disclosednot disclosednot disclosednot disclosed
APA Corporation189.8%PSU 60 · Options 20 · RSU 20Yes — Relative TSRPearl Meyer & Partners, LLC
Chevron125%PSU 50 · RSU 25 · Options 25Yes — Relative Total Stockholder Return (TSR)Meridian Compensation Partners, LLC
Devon Energy124%PSU 60 · RSU 40Yes — Relative TSRMeridian Compensation Partners, LLC
DiamondBack Energy161%PSU 60 · RSU 40Yes — Total Stockholder Return (relative to TSR performance peer group)Meridian
EOG Resources125%PSU 60 · RSU 40Yes — Relative TSR vs Performance Peer GroupMeridian Compensation Partners, LLC
ExxonMobilnot disclosedPSU 100not disclosedPearl Meyer

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, Ryan LanceDEF 14A2026-03-300001104659-26-036366Section “Summary Compensation Table”. As printed: 23,450,085. Filing ↗machine: span 1829926–1829936
2Section 01, Nicholas OldsDEF 14A2026-03-300001104659-26-036366Section “Summary Compensation Table”. As printed: 8,019,355. Filing ↗machine: r10 · c54 · span 1893846–1893855
3Section 01, William BullockDEF 14A2026-03-300001104659-26-036366Section “Summary Compensation Table”. As printed: 7,842,009. Filing ↗machine: r7 · c54 · span 1872628–1872637
4Section 01, Kelly RoseDEF 14A2026-03-300001104659-26-036366Section “Summary Compensation Table”. As printed: 6,492,838. Filing ↗machine: r13 · c54 · span 1915193–1915202
5Section 01, Andrew O'BrienDEF 14A2026-03-300001104659-26-036366Section “Summary Compensation Table”. As printed: 6,348,878. Filing ↗machine: r4 · c54 · span 1851322–1851331
6Section 01, Kirk JohnsonDEF 14A2026-03-300001104659-26-036366Section “Summary Compensation Table”. As printed: 6,268,068. Filing ↗machine: r16 · c54 · span 1936322–1936331
7Section 03, Ryan Lance PSUDEF 14A2026-03-300001104659-26-036366Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: t130 · r1 · c24 · span 1826129–1826139
8Section 03, Kirk Johnson PSUDEF 14A2026-03-300001104659-26-036366Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: t130 · r16 · c24 · span 1932497–1932506
9Section 03, Kelly Rose PSUDEF 14A2026-03-300001104659-26-036366Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: t130 · r13 · c24 · span 1911367–1911376
10Section 03, Nicholas Olds PSUDEF 14A2026-03-300001104659-26-036366Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: t130 · r10 · c24 · span 1890018–1890027
11Section 03, William Bullock PSUDEF 14A2026-03-300001104659-26-036366Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: t130 · r7 · c24 · span 1868802–1868811
12Section 03, Andrew O'Brien PSUDEF 14A2026-03-300001104659-26-036366Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: t130 · r4 · c24 · span 1847496–1847505
13Section 07, pay ratioDEF 14A2026-03-300001104659-26-036366Section “CEO Pay Ratio”. As printed: 110.7 : 1. Filing ↗machine: span 2856811–2856818
14Section 08, Robert A. NiblockDEF 14A2026-03-300001104659-26-036366Section “Director Compensation”. As printed: 435,701. Filing ↗machine: t94 · r10 · c42 · span 1187443–1187450
15Section 08, Jeffrey A. JoerresDEF 14A2026-03-300001104659-26-036366Section “Director Compensation”. As printed: 387,509. Filing ↗machine: t94 · r4 · c42 · span 1153817–1153824
16Section 08, Arjun N. MurtiDEF 14A2026-03-300001104659-26-036366Section “Director Compensation”. As printed: 377,589. Filing ↗machine: t94 · r9 · c42 · span 1181866–1181873
17Section 08, Nelda J. ConnorsDEF 14A2026-03-300001104659-26-036366Section “Director Compensation”. As printed: 373,249. Filing ↗machine: t94 · r2 · c42 · span 1142638–1142645
18Section 08, David T. SeatonDEF 14A2026-03-300001104659-26-036366Section “Director Compensation”. As printed: 367,589. Filing ↗machine: t94 · r11 · c42 · span 1193030–1193037
19Section 08, Gay Huey Evans CBEDEF 14A2026-03-300001104659-26-036366Section “Director Compensation”. As printed: 365,101. Filing ↗
20Section 08, Dennis V. ArriolaDEF 14A2026-03-300001104659-26-036366Section “Director Compensation”. As printed: 356,339. Filing ↗machine: t94 · r1 · c42 · span 1137061–1137068
21Section 08, William H. McRavenDEF 14A2026-03-300001104659-26-036366Section “Director Compensation”. As printed: 352,589. Filing ↗machine: t94 · r7 · c42 · span 1170688–1170695
22Section 08, Sharmila MulliganDEF 14A2026-03-300001104659-26-036366Section “Director Compensation”. As printed: 352,589. Filing ↗machine: t94 · r8 · c42 · span 1176265–1176272
23Section 08, R.A. WalkerDEF 14A2026-03-300001104659-26-036366Section “Director Compensation”. As printed: 350,506. Filing ↗machine: t94 · r12 · c42 · span 1198592–1198599
24Section 08, Kathleen A. McGintyDEF 14A2026-03-300001104659-26-036366Section “Director Compensation”. As printed: 176,257. Filing ↗machine: t94 · r6 · c42 · span 1165085–1165092
25Section 08, Timothy A. LeachDEF 14A2026-03-300001104659-26-036366Section “Director Compensation”. As printed: 77,764. Filing ↗machine: t94 · r5 · c42 · span 1159509–1159515
26Section 08, Ryan M. LanceDEF 14A2026-03-300001104659-26-036366Section “Director Compensation”. As printed: 0. Filing ↗
27Section 02, Ryan Michael Lance 2026-03-31Form 42026-03-310001193125-26-134713Insider equity transaction reported since the proxy statement. Filing ↗
28Section 02, Nicholas Olds 2026-03-31Form 42026-03-310001193125-26-134453Insider equity transaction reported since the proxy statement. Filing ↗
29Section 02, William H. McRaven 2026-04-15Form 42026-04-170001193125-26-161472Insider equity transaction reported since the proxy statement. Filing ↗
30Section 02, Timothy A. Leach 2026-04-15Form 42026-04-170001193125-26-161476Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, Timothy A. Leach 2026-04-15Form 42026-04-170001193125-26-161476Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, William H. McRaven 2026-04-15Form 42026-04-170001193125-26-161472Insider equity transaction reported since the proxy statement. Filing ↗
33Section 02, Andrew D. Lundquist 2026-06-01Form 42026-06-030001193125-26-255388Insider equity transaction reported since the proxy statement. Filing ↗
34Section 02, Andrew D. Lundquist 2026-06-01Form 42026-06-030001193125-26-255388Insider equity transaction reported since the proxy statement. Filing ↗
35Section 02, Andrew D. Lundquist 2026-06-01Form 42026-06-030001193125-26-255388Insider equity transaction reported since the proxy statement. Filing ↗
36Section 02, Sharmila Mulligan 2026-06-10Form 42026-06-100001193125-26-265785Insider equity transaction reported since the proxy statement. Filing ↗
37Section 02, Robert A. Niblock 2026-06-15Form 42026-06-160001193125-26-272680Insider equity transaction reported since the proxy statement. Filing ↗
38Section 06, 2026 voteForm 8-K2026-05-140001104659-26-061130Item 5.07 · say-on-pay result. As reported: 95.99% (votes for as printed: 943,706,422). Filing ↗
39Section 06, 2025 voteForm 8-K2025-05-150001104659-25-049593Item 5.07 · say-on-pay result. As reported: 96.41% (votes for as printed: 941,241,703). Filing ↗
40Section 06, 2024 voteForm 8-K2024-05-160001104659-24-062520Item 5.07 · say-on-pay result. As reported: 95.7% (votes for as printed: 886,492,959). Filing ↗
41Section 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
42Section 09b board cost (computed)ComputedcomputedCash 1,549,233 + equity 2,310,897 + all other 112,652 = 3,972,782, summed across the director compensation table rows.machine: formula: Σ = 3,972,782
43ExxonMobil, Section 10b CEO totalDEF 14A2026-04-080001193125-26-147614CEO total compensation as printed in ExxonMobil's own proxy. As printed: 32,998,628. Filing ↗machine: t385 · r6 · c2 · span 1433667–1433677
44Chevron, Section 10b CEO totalDEF 14A2026-04-070001193125-26-145617CEO total compensation as printed in Chevron's own proxy. As printed: 26,828,240. Filing ↗machine: span 1241206–1241216
45Conocophillips (subject), Section 10b CEO totalDEF 14A2026-03-300001104659-26-036366CEO total compensation as printed in Conocophillips's own proxy. As printed: 23,450,085. Filing ↗machine: span 1829926–1829936
46EOG Resources, Section 10b CEO totalDEF 14A2026-03-270001104659-26-036125CEO total compensation as printed in EOG Resources's own proxy. As printed: 17,576,636. Filing ↗machine: t153 · r6 · c17 · span 1140550–1140560
47DiamondBack Energy, Section 10b CEO totalDEF 14A2026-04-090001308179-26-000242CEO total compensation as printed in DiamondBack Energy's own proxy. As printed: 14,931,423. Filing ↗machine: t243 · span 824819–824829
48APA Corporation, Section 10b CEO totalDEF 14A2026-04-090001193125-26-149453CEO total compensation as printed in APA Corporation's own proxy. As printed: 13,202,517. Filing ↗machine: t67 · r2 · c24 · span 1213765–1213775
49Devon Energy, Section 10b CEO totalDEF 14A2026-05-280001104659-26-067065CEO total compensation as printed in Devon Energy's own proxy. As printed: 12,566,384. Filing ↗machine: r1 · c22 · span 1488697–1488707
50Section 10a, APA Corporation reciprocityDEF 14A0001193125-26-149453APA Corporation's most recent proxy was read; its disclosed peer group does not include Conocophillips. Filing ↗
51Section 10a, Devon Energy reciprocityDEF 14A0001104659-26-067065Devon Energy names Conocophillips in its own disclosed peer group (read from its most recent proxy). Filing ↗
52Section 10a, DiamondBack Energy reciprocityDEF 14A0001308179-26-000242DiamondBack Energy names Conocophillips in its own disclosed peer group (read from its most recent proxy). Filing ↗
53Section 10a, Chevron reciprocityDEF 14A0001193125-26-145617Chevron names Conocophillips in its own disclosed peer group (read from its most recent proxy). Filing ↗
54Section 10a, EOG Resources reciprocityDEF 14A0001104659-26-036125EOG Resources names Conocophillips in its own disclosed peer group (read from its most recent proxy). Filing ↗
55Section 10a, ExxonMobil reciprocityDEF 14A0001193125-26-147614ExxonMobil's most recent proxy was read; its disclosed peer group does not include Conocophillips. Filing ↗