Companies Mplx LP
Mplx (MPLX): executive pay, fiscal 2025
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CEO pay, last three years
- $14,388,817FY2024
- $19,016,261FY2025
CEO total pay was $19,016,261 in fiscal 2025, up from $14,388,817 in fiscal 2024.
FY2025: salary $1,400,000 · bonus $0 · stock awards $13,391,322 · option awards $0
Frequently asked questions
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Maryann Mannen | $1,400,000 | $0 | $13,391,322 | $0 | $3,303,300 | $467,458 | $454,181 | $19,016,261 |
| President and CEO | ||||||||
| Michael Hennigan | 1,050,000 | 0 | 9,147,232 | 0 | 2,477,500 | 680,357 | 752,410 | 14,107,499 |
| Executive Chairman | ||||||||
| Molly Benson | 687,534 | 0 | 2,060,167 | 0 | 900,900 | 280,019 | 132,673 | 4,061,293 |
| Chief Legal Officer and Corporate Secretary | ||||||||
| Gregory Floerke | 678,767 | 0 | 1,648,193 | 0 | 734,700 | 216,880 | 124,894 | 3,403,434 |
| Executive Vice President and Chief Operating Officer | ||||||||
| C. Kristopher Hagedorn | 543,767 | 0 | 1,236,152 | 0 | 589,900 | 127,962 | 107,411 | 2,605,192 |
| Executive Vice President and CFO | ||||||||
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 officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Maryann Mannen | $19,016,261 | $14,388,817 | — | ↑ +4,627,444 |
| Michael Hennigan | 14,107,499 | 23,755,153 | 24,054,492 | ↓ −9,647,654 |
| Molly Benson | 4,061,293 | 3,911,616 | — | ↑ +149,677 |
| Gregory Floerke | 3,403,434 | 3,523,933 | 3,185,847 | ↓ −120,499 |
| C. Kristopher Hagedorn | 2,605,192 | 2,706,634 | — | ↓ −101,442 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Incentive-plan design — the Compensation Discussion & Analysis
MPLX's compensation philosophy is aligned with MPC's strategy, focusing on incentivizing and rewarding eligible employees for executing on MPC's strategy. The only direct compensation provided by MPLX to its NEOs is in the form of MPLX phantom unit awards, while base salary and annual cash bonuses are determined by MPC's Compensation Committee.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | FW Cook |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2025
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Molly Benson | RSU | 2025-03-01 | — | — | 2,623 | — | $393,922 |
| Michael Hennigan | RSU | 2025-03-01 | — | — | 11,645 | — | 1,748,846 |
| Michael Hennigan | PSU | 2025-03-01 | 17,468 | 34,935 | — | 69,870 | 5,599,032 |
| Michael Hennigan | RSU | 2025-03-01 | — | — | 33,377 | — | 1,799,354 |
| Molly Benson | PSU | 2025-03-01 | 3,934 | 7,868 | — | 15,736 | 1,261,004 |
| Molly Benson | RSU | 2025-03-01 | — | — | 7,517 | — | 405,241 |
| Gregory Floerke | RSU | 2025-03-01 | — | — | 2,098 | — | 315,078 |
| Gregory Floerke | PSU | 2025-03-01 | 3,148 | 6,295 | — | 12,590 | 1,008,900 |
| Gregory Floerke | RSU | 2025-03-01 | — | — | 6,014 | — | 324,215 |
| C. Kristopher Hagedorn | RSU | 2025-03-01 | — | — | 1,574 | — | 236,383 |
| C. Kristopher Hagedorn | PSU | 2025-03-01 | 2,361 | 4,721 | — | 9,442 | 756,635 |
| C. Kristopher Hagedorn | RSU | 2025-03-01 | — | — | 4,510 | — | 243,134 |
| Maryann Mannen | RSU | 2025-03-01 | — | — | 17,048 | — | 2,560,269 |
| Maryann Mannen | PSU | 2025-03-01 | 25,572 | 51,144 | — | 102,288 | 8,196,849 |
| Maryann Mannen | RSU | 2025-03-01 | — | — | 48,863 | — | 2,634,204 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Molly Benson | $799,163 | $1,261,004 | $0 | 61.2% |
| Michael Hennigan | 3,548,200 | 5,599,032 | 0 | 61.2% |
| Gregory Floerke | 639,293 | 1,008,900 | 0 | 61.2% |
| C. Kristopher Hagedorn | 479,517 | 756,635 | 0 | 61.2% |
| Maryann Mannen | 5,194,473 | 8,196,849 | 0 | 61.2% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
Outstanding equity awards at fiscal year-end 2025
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Molly Benson | PSU | 73 | — | $4,128 |
| Molly Benson | RSU | 17,196 | — | 972,434 |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Christopher A. HelmsIndependent · Lead Independent Director · Audit · Conflicts (Chair) · Executive · MPLX Committee | $150,000 | $166,552 | — | — | $0 | $316,552 |
| Garry L. PeifferIndependent · Audit (Chair) · MPLX Committee | 125,000 | 166,552 | — | — | 20,000 | 311,552 |
| Christine S. BrevesIndependent · Audit · Conflicts · MPLX Committee | 100,000 | 166,552 | — | — | 20,000 | 286,552 |
| Frank M. SempleIndependent · MPLX Committee | 100,000 | 166,552 | — | — | 0 | 266,552 |
| J. Michael SticeIndependent · MPLX Committee | 100,000 | 166,552 | — | — | 0 | 266,552 |
| John P. SurmaIndependent · MPLX Committee | 100,000 | 166,552 | — | — | 0 | 266,552 |
| Ray N. Walker JrIndependent · Audit · Conflicts · MPLX Committee | 35,054 | 85,274 | — | — | 0 | 120,328 |
Board fee structure and ownership guideline
| Annual cash retainer | $100,000 |
|---|---|
| Annual equity retainer | $125,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 25,000 |
| Stock ownership guideline | — |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $710,054 |
| Equity awards (grant-date value) | $1,084,586 |
| All other compensation | $40,000 |
| Total cost of the board | $1,834,640 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Mplx as a peer
Companies that benchmark against MPLX
1 company names MPLX as a compensation peer
- SEMPRASREFY2025
Each company listed discloses MPLX 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 MPLX in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
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.
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.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Marathon Petroleum Corporation | 2025 | Maryann Mannen | $1,400,000 | $13,391,322 | $0 | $3,303,300 | $19,016,261 |
| 2 | Mplx LP | 2025 | Maryann Mannen | 1,400,000 | 13,391,322 | 0 | 3,303,300 | 19,016,261 |
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.
Incentive design against the same peers
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Mplx LP | not disclosed | Phantom Units 100 | not disclosed | FW Cook |
| Marathon Petroleum Corporation | 143% | not disclosed | Yes — Relative TSR | FW Cook |
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.
Say-on-pay history and pay ratio
No say-on-pay vote is on file for this company.
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (32 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, Maryann Mannen. 10-K, filed 2026-02-26. Section “Executive Compensation” · page 137. As printed: 19,016,261. View filing ↗
- Section 01, Michael Hennigan. 10-K, filed 2026-02-26. Section “Executive Compensation” · page 137. As printed: 14,107,499. View filing ↗
- Section 01, Molly Benson. 10-K, filed 2026-02-26. Section “Executive Compensation” · page 137. As printed: 4,061,293. View filing ↗
- Section 01, Gregory Floerke. 10-K, filed 2026-02-26. Section “Executive Compensation” · page 137. As printed: 3,403,434. View filing ↗
- Section 01, C. Kristopher Hagedorn. 10-K, filed 2026-02-26. Section “Executive Compensation” · page 137. As printed: 2,605,192. View filing ↗
- Section 03, Molly Benson RSU. 10-K, filed 2026-02-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Michael Hennigan RSU. 10-K, filed 2026-02-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Michael Hennigan PSU. 10-K, filed 2026-02-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Michael Hennigan RSU. 10-K, filed 2026-02-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Molly Benson PSU. 10-K, filed 2026-02-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Molly Benson RSU. 10-K, filed 2026-02-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Gregory Floerke RSU. 10-K, filed 2026-02-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Gregory Floerke PSU. 10-K, filed 2026-02-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Gregory Floerke RSU. 10-K, filed 2026-02-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, C. Kristopher Hagedorn RSU. 10-K, filed 2026-02-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, C. Kristopher Hagedorn PSU. 10-K, filed 2026-02-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, C. Kristopher Hagedorn RSU. 10-K, filed 2026-02-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Maryann Mannen RSU. 10-K, filed 2026-02-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Maryann Mannen PSU. 10-K, filed 2026-02-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Maryann Mannen RSU. 10-K, filed 2026-02-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 08, Christopher A. Helms. 10-K, filed 2026-02-26. Section “Director Compensation”. As printed: 316,552. View filing ↗
- Section 08, Garry L. Peiffer. 10-K, filed 2026-02-26. Section “Director Compensation”. As printed: 311,552. View filing ↗
- Section 08, Christine S. Breves. 10-K, filed 2026-02-26. Section “Director Compensation”. As printed: 286,552. View filing ↗
- Section 08, Frank M. Semple. 10-K, filed 2026-02-26. Section “Director Compensation”. As printed: 266,552. View filing ↗
- Section 08, J. Michael Stice. 10-K, filed 2026-02-26. Section “Director Compensation”. As printed: 266,552. View filing ↗
- Section 08, John P. Surma. 10-K, filed 2026-02-26. Section “Director Compensation”. As printed: 266,552. View filing ↗
- Section 08, Ray N. Walker Jr. 10-K, filed 2026-02-26. Section “Director Compensation”. As printed: 120,328. View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
- Section 09b board cost (computed). Computed. Cash 710,054 + equity 1,084,586 + all other 40,000 = 1,834,640, summed across the director compensation table rows.
- Marathon Petroleum Corporation, Section 10b CEO total. DEF 14A, filed 2026-03-16. CEO total compensation as printed in Marathon Petroleum Corporation's own proxy. As printed: 19,016,261. View filing ↗
- Mplx LP (subject), Section 10b CEO total. 10-K, filed 2026-02-26. CEO total compensation as printed in Mplx LP's own proxy. As printed: 19,016,261. View filing ↗