Fiscal year 2023 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.
Each company listed discloses MRO 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 MRO in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Lee Tillman | $1,200,000 | $0 | $8,668,144 | $0 | $1,980,000 | $597,888 | $384,190 | $12,830,222 |
| Chairman, President and Chief Executive Officer | ||||||||
| Dane Whitehead | 614,577 | 0 | 2,708,781 | 0 | 608,431 | 162,458 | 137,273 | 4,231,520 |
| Executive Vice President and Chief Financial Officer | ||||||||
| Patrick Wagner | 516,327 | 0 | 2,166,973 | 0 | 587,838 | 150,078 | 126,764 | 3,547,980 |
| Executive Vice President, Corporate Development and Strategy | ||||||||
| Michael Henderson | 495,505 | 0 | 2,221,184 | 0 | 490,550 | 157,631 | 106,622 | 3,471,492 |
| Executive Vice President, Operations | ||||||||
| Kimberly Warnica | 470,409 | 0 | 1,896,110 | 0 | 465,705 | 99,396 | 102,277 | 3,033,897 |
| Executive Vice President, General Counsel and Secretary | ||||||||
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.
| Named executive officer | FY2023 total | FY2022 total | FY2021 total | Δ FY2022→2023 |
|---|---|---|---|---|
| Lee Tillman | $12,830,222 | — | — | — |
| Dane Whitehead | 4,231,520 | — | — | — |
| Patrick Wagner | 3,547,980 | — | — | — |
| Michael Henderson | 3,471,492 | — | — | — |
| Kimberly Warnica | 3,033,897 | — | — | — |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
No insider equity transactions reported since the proxy statement.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Kimberly Warnica | PSU | — | 4,071 | 20,356 | — | 40,712 | $524,981 |
| Patrick Wagner | RSU | — | — | — | 31,019 | — | 799,980 |
| Michael Henderson | PSU | — | 4,769 | 23,846 | — | 47,692 | 614,988 |
| Lee Tillman | PSU | — | 32,571 | 93,059 | — | 186,118 | 3,068,155 |
| Kimberly Warnica | RSU | — | — | — | 27,142 | — | 699,992 |
| Dane Whitehead | PSU | — | 10,178 | 29,081 | — | 58,162 | 958,801 |
| Lee Tillman | RSU | — | — | — | 124,079 | — | 3,199,997 |
| Dane Whitehead | RSU | — | — | — | 38,774 | — | 999,981 |
| Lee Tillman | PSU | — | 18,612 | 93,059 | — | 186,118 | 2,399,992 |
| Michael Henderson | PSU | — | 8,346 | 23,846 | — | 47,692 | 786,203 |
| Kimberly Warnica | PSU | — | 7,125 | 20,356 | — | 40,712 | 671,137 |
| Dane Whitehead | PSU | — | 5,816 | 29,081 | — | 58,162 | 749,999 |
| Patrick Wagner | PSU | — | 8,142 | 23,264 | — | 46,528 | 767,014 |
| Patrick Wagner | PSU | — | 4,653 | 23,264 | — | 46,528 | 599,979 |
| Michael Henderson | RSU | — | — | — | 31,795 | — | 819,993 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Kimberly Warnica | $699,992 | $1,196,118 | $0 | 63.1% |
| Patrick Wagner | 799,980 | 1,366,993 | 0 | 63.1% |
| Michael Henderson | 819,993 | 1,401,191 | 0 | 63.1% |
| Lee Tillman | 3,199,997 | 5,468,147 | 0 | 63.1% |
| Dane Whitehead | 999,981 | 1,708,800 | 0 | 63.1% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Patrick Wagner | PSU | 32,764 | — | $791,578 |
| Michael Henderson | PSU | 29,488 | — | 712,430 |
| Dane Whitehead | RSU | 27,902 | — | 674,112 |
| Lee Tillman | RSU | 186,118 | — | 4,496,611 |
| Michael Henderson | PSU | 53,570 | — | 1,294,251 |
| Dane Whitehead | RSU | 33,494 | — | 809,215 |
| Patrick Wagner | RSU | 31,019 | — | 749,419 |
| Kimberly Warnica | RSU | 27,142 | — | 655,751 |
| Kimberly Warnica | PSU | 26,212 | — | 633,282 |
| Patrick Wagner | RSU | 22,322 | — | 539,300 |
| Patrick Wagner | RSU | 21,844 | — | 527,751 |
| Michael Henderson | RSU | 19,659 | — | 474,961 |
| Michael Henderson | Option | 0 | 10.47 | — |
| Kimberly Warnica | RSU | 17,475 | — | 422,196 |
| Dane Whitehead | RSU | 38,774 | — | 936,780 |
| Lee Tillman | RSU | 89,286 | — | 2,157,150 |
| Patrick Wagner | Option | 0 | 35.91 | — |
| Lee Tillman | RSU | 124,079 | — | 2,997,749 |
| Lee Tillman | Option | 0 | 34.03 | — |
| Lee Tillman | PSU | 267,856 | — | 6,471,401 |
| Michael Henderson | RSU | 17,857 | — | 431,425 |
| Lee Tillman | RSU | 87,374 | — | 2,110,956 |
| Lee Tillman | Option | 0 | 29.06 | — |
| Patrick Wagner | PSU | 66,964 | — | 1,617,850 |
| Kimberly Warnica | RSU | 14,881 | — | 359,525 |
| Michael Henderson | RSU | 47,692 | — | 1,152,239 |
| Patrick Wagner | RSU | 46,528 | — | 1,124,116 |
| Lee Tillman | PSU | 131,060 | — | 3,166,410 |
| Dane Whitehead | RSU | 58,162 | — | 1,405,194 |
| Dane Whitehead | PSU | 50,240 | — | 1,213,798 |
| Kimberly Warnica | RSU | 40,712 | — | 983,602 |
| Michael Henderson | Option | 0 | 34.9 | — |
| Patrick Wagner | Option | 0 | 29.06 | — |
| Dane Whitehead | PSU | 83,704 | — | 2,022,289 |
| Kimberly Warnica | PSU | 44,642 | — | 1,078,551 |
| Michael Henderson | RSU | 31,795 | — | 768,167 |
Our program is designed to reward executives for their performance and motivate them to continue to perform at a high level. Cash bonuses based on annual performance, combined with equity awards that vest over several years, balance short-term and long-term business objectives.
| CEO STI target (% of salary) | 150% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Meridian Compensation Partners LLC |
| Clawback policy | true |
| Anti-hedging | — |
| Anti-pledging | True |
| Ratio (CEO : median employee) | 101 : 1 |
|---|---|
| CEO total compensation | $12,830,222 |
| Median employee compensation | — |
| Annual cash retainer | $95,000 |
|---|---|
| Annual equity retainer | $200,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 20,000 / 20,000 / 12,500 |
| Stock ownership guideline | 5x annual cash retainer ($475,000) |
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Of the companies Marathon Oil 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 Marathon Oil.
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 | Hess Corporation | 2024 | John Hess | $1,575,000 | $12,075,036 | $0 | $4,358,700 | $18,036,267 |
| 2 | EQT Corporation | 2025 | Toby Rice | 1 | 13,552,232 | 0 | 2,535,000 | 16,087,233 |
| 3 | Diamondback Energy, Inc. | 2025 | Kaes Van t Hof | 1,109,500 | 11,101,462 | 0 | 2,676,350 | 14,931,423 |
| 4 | Coterra Energy Inc. | 2024 | Thomas Jorden | 1,198,558 | 10,628,850 | 0 | 2,500,000 | 14,748,960 |
| 5 | Ovintiv Inc. | 2025 | Brendan McCracken | 1,185,000 | 9,900,005 | 0 | 2,136,750 | 13,693,140 |
| 6 | APA Corporation | 2025 | John Christmann IV | 1,300,000 | 6,018,436 | 1,897,996 | 3,454,360 | 13,202,517 |
| 7 | Marathon Oil | 2023 | Lee Tillman | 1,200,000 | 8,668,144 | 0 | 1,980,000 | 12,830,222 |
| 8 | Devon Energy Corporation | 2025 | Clay Gaspar | 938,125 | 9,633,689 | 0 | 1,612,000 | 12,566,384 |
| — | Murphy Oil Corporation | — | — | — | — | — | — | not 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.
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Marathon Oil | 110% | PSU 60 · RSU 40 | No | Meridian Compensation Partners LLC |
| APA Corporation | 189.8% | PSU 60 · Options 20 · RSU 20 | Yes — Relative TSR | Pearl Meyer & Partners, LLC |
| Coterra Energy Inc. | 174% | PSU 50 · RSU 50 | Yes — Relative TSR | Zayla Partners |
| Devon Energy Corporation | 124% | PSU 60 · RSU 40 | Yes — Relative TSR | Meridian Compensation Partners, LLC |
| Diamondback Energy, Inc. | 161% | PSU 60 · RSU 40 | Yes — Total Stockholder Return (relative to TSR performance peer group) | Meridian |
| EQT Corporation | 169% | PSU 60 · RSU 40 | No | Meridian Compensation Partners, LLC |
| Hess Corporation | 184.3% | RSU 100 | Yes — Relative TSR (Total Shareholder Return) | Semler Brossy Consulting Group LLC |
| Murphy Oil Corporation | not disclosed | not disclosed | not disclosed | not disclosed |
| Ovintiv Inc. | 140% | RSU 50 · PSU 50 | 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.
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.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Lee Tillman | DEF 14A | 2024-04-10 | 0000101778-24-000082 | Section “SUMMARY COMPENSATION TABLE” · page 47. As printed: 12,830,222. Filing ↗machine: t76 · r2 · c23 · span 726272–726282 |
| 2 | Section 01, Dane Whitehead | DEF 14A | 2024-04-10 | 0000101778-24-000082 | Section “SUMMARY COMPENSATION TABLE” · page 47. As printed: 4,231,520. Filing ↗machine: t76 · r5 · c23 · span 736800–736809 |
| 3 | Section 01, Patrick Wagner | DEF 14A | 2024-04-10 | 0000101778-24-000082 | Section “SUMMARY COMPENSATION TABLE” · page 47. As printed: 3,547,980. Filing ↗machine: t76 · r8 · c23 · span 748047–748056 |
| 4 | Section 01, Michael Henderson | DEF 14A | 2024-04-10 | 0000101778-24-000082 | Section “SUMMARY COMPENSATION TABLE” · page 47. As printed: 3,471,492. Filing ↗machine: t76 · r11 · c23 · span 758578–758587 |
| 5 | Section 01, Kimberly Warnica | DEF 14A | 2024-04-10 | 0000101778-24-000082 | Section “SUMMARY COMPENSATION TABLE” · page 47. As printed: 3,033,897. Filing ↗machine: t76 · r14 · c23 · span 769806–769815 |
| 6 | Section 03, Kimberly Warnica PSU | DEF 14A | 2024-04-10 | 0000101778-24-000082 | Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t78 · r20 · c9 · span 850426–850432 |
| 7 | Section 03, Patrick Wagner RSU | DEF 14A | 2024-04-10 | 0000101778-24-000082 | Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t79 · r21 · c6 · span 899630–899636 |
| 8 | Section 03, Michael Henderson PSU | DEF 14A | 2024-04-10 | 0000101778-24-000082 | Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t78 · r16 · c9 · span 841153–841159 |
| 9 | Section 03, Lee Tillman PSU | DEF 14A | 2024-04-10 | 0000101778-24-000082 | Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t78 · r4 · c9 · span 813874–813880 |
| 10 | Section 03, Kimberly Warnica RSU | DEF 14A | 2024-04-10 | 0000101778-24-000082 | Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t79 · r35 · c6 · span 925711–925717 |
| 11 | Section 03, Dane Whitehead PSU | DEF 14A | 2024-04-10 | 0000101778-24-000082 | Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t78 · r8 · c9 · span 822883–822889 |
| 12 | Section 03, Lee Tillman RSU | DEF 14A | 2024-04-10 | 0000101778-24-000082 | Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t79 · r7 · c6 · span 873642–873649 |
| 13 | Section 03, Dane Whitehead RSU | DEF 14A | 2024-04-10 | 0000101778-24-000082 | Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t79 · r14 · c6 · span 885970–885976 |
| 14 | Section 03, Lee Tillman PSU | DEF 14A | 2024-04-10 | 0000101778-24-000082 | Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t78 · r4 · c9 · span 813874–813880 |
| 15 | Section 03, Michael Henderson PSU | DEF 14A | 2024-04-10 | 0000101778-24-000082 | Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t78 · r16 · c9 · span 841153–841159 |
| 16 | Section 03, Kimberly Warnica PSU | DEF 14A | 2024-04-10 | 0000101778-24-000082 | Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t78 · r20 · c9 · span 850426–850432 |
| 17 | Section 03, Dane Whitehead PSU | DEF 14A | 2024-04-10 | 0000101778-24-000082 | Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t78 · r8 · c9 · span 822883–822889 |
| 18 | Section 03, Patrick Wagner PSU | DEF 14A | 2024-04-10 | 0000101778-24-000082 | Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t78 · r12 · c9 · span 832154–832160 |
| 19 | Section 03, Patrick Wagner PSU | DEF 14A | 2024-04-10 | 0000101778-24-000082 | Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t78 · r12 · c9 · span 832154–832160 |
| 20 | Section 03, Michael Henderson RSU | DEF 14A | 2024-04-10 | 0000101778-24-000082 | Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t79 · r28 · c6 · span 913394–913400 |
| 21 | Section 07, pay ratio | DEF 14A | — | 0000101778-24-000082 | Section “CEO Pay Ratio”. As printed: 101 : 1.machine: span 1124614–1124617 |
| 22 | Section 03b vehicle mix (computed) | Computed | — | computed | RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio |
| 23 | Hess Corporation, Section 10b CEO total | DEF 14A | 2025-04-04 | 0001193125-25-073397 | CEO total compensation as printed in Hess Corporation's own proxy. As printed: 18,036,267. Filing ↗machine: r2 · c35 · span 890654–890664 |
| 24 | EQT Corporation, Section 10b CEO total | DEF 14A | 2026-02-26 | 0001104659-26-020027 | CEO total compensation as printed in EQT Corporation's own proxy. As printed: 16,087,233. Filing ↗machine: r1 · c48 · span 1446364–1446374 |
| 25 | Diamondback Energy, Inc., Section 10b CEO total | DEF 14A | 2026-04-09 | 0001308179-26-000242 | CEO total compensation as printed in Diamondback Energy, Inc.'s own proxy. As printed: 14,931,423. Filing ↗machine: t243 · span 824819–824829 |
| 26 | Coterra Energy Inc., Section 10b CEO total | DEF 14A | 2025-03-20 | 0001104659-25-026126 | CEO total compensation as printed in Coterra Energy Inc.'s own proxy. As printed: 14,748,960. Filing ↗machine: t61 · r1 · c63 · span 936374–936384 |
| 27 | Ovintiv Inc., Section 10b CEO total | DEF 14A | 2026-03-25 | 0001193125-26-124351 | CEO total compensation as printed in Ovintiv Inc.'s own proxy. As printed: 13,693,140. Filing ↗machine: r3 · c31 · span 1274573–1274583 |
| 28 | APA Corporation, Section 10b CEO total | DEF 14A | 2026-04-09 | 0001193125-26-149453 | CEO total compensation as printed in APA Corporation's own proxy. As printed: 13,202,517. Filing ↗machine: t67 · r2 · c24 · span 1213765–1213775 |
| 29 | Marathon Oil (subject), Section 10b CEO total | DEF 14A | 2024-04-10 | 0000101778-24-000082 | CEO total compensation as printed in Marathon Oil's own proxy. As printed: 12,830,222. Filing ↗machine: t76 · r2 · c23 · span 726272–726282 |
| 30 | Devon Energy Corporation, Section 10b CEO total | DEF 14A | 2026-05-28 | 0001104659-26-067065 | CEO total compensation as printed in Devon Energy Corporation's own proxy. As printed: 12,566,384. Filing ↗machine: r1 · c22 · span 1488697–1488707 |
| 31 | Section 10a, Devon Energy Corporation reciprocity | DEF 14A | — | 0001104659-26-067065 | Devon Energy Corporation names Marathon Oil in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 32 | Section 10a, Coterra Energy Inc. reciprocity | DEF 14A | — | 0001104659-25-026126 | Coterra Energy Inc. names Marathon Oil in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 33 | Section 10a, EQT Corporation reciprocity | DEF 14A | — | 0001104659-26-020027 | EQT Corporation's most recent proxy was read; its disclosed peer group does not include Marathon Oil. Filing ↗ |
| 34 | Section 10a, Ovintiv Inc. reciprocity | DEF 14A | — | 0001193125-26-124351 | Ovintiv Inc.'s most recent proxy was read; its disclosed peer group does not include Marathon Oil. Filing ↗ |
| 35 | Section 10a, Hess Corporation reciprocity | DEF 14A | — | 0001193125-25-073397 | Hess Corporation's most recent proxy was read; its disclosed peer group does not include Marathon Oil. Filing ↗ |
| 36 | Section 10a, APA Corporation reciprocity | DEF 14A | — | 0001193125-26-149453 | APA Corporation names Marathon Oil in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 37 | Section 10a, Diamondback Energy, Inc. reciprocity | DEF 14A | — | 0001308179-26-000242 | Diamondback Energy, Inc.'s most recent proxy was read; its disclosed peer group does not include Marathon Oil. Filing ↗ |