Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-05-28

Murphy Oil (MUR)

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.

$7,651,445
Eric Hambly total, FY2025
10th
CEO pay percentile vs peers
38:1
CEO-to-median pay ratio
98.88%
Say-on-pay support, latest vote
Companies that benchmark against MUR
11 companies name MUR as a compensation peer

Each company listed discloses MUR 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 MUR 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
Eric Hambly$950,000$0$4,917,315$0$1,324,063$401,447$58,620$7,651,445
President and Chief Executive Officer
Thomas Mireles627,50002,504,1990702,450424,07239,2704,297,491
Executive Vice President and Chief Financial Officer
E Botner524,30801,457,1120469,192563,27933,0793,046,970
Executive Vice President, General Counsel and Corporate Secretary
Daniel Hanchera460,2750835,8490411,569163,28329,1081,900,084
Senior Vice President
Maria Martinez423,2420557,2200343,420124,92326,7661,475,571
Senior Vice President

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
Eric Hambly$7,651,445
Thomas Mireles4,297,491
E Botner3,046,970
Daniel Hanchera1,900,084
Maria Martinez1,475,571

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 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Eric HamblyPSU2025-02-0462,355124,710249,420$2,757,338
Maria MartinezPSU2025-02-045,54511,09022,180245,200
E BotnerRSU2025-02-0415,400400,092
E BotnerPSU2025-02-0418,47536,95073,900816,965
E BotnerPSU2025-02-044,6209,24018,480240,055
Daniel HancheraRSU2025-02-0413,860360,083
Eric HamblyPSU2025-02-0415,59031,18062,360810,056
Eric HamblyRSU2025-02-0451,9601,349,921
Daniel HancheraPSU2025-02-042,0804,1608,320108,077
Daniel HancheraPSU2025-02-048,31516,63033,260367,689
Maria MartinezRSU2025-02-049,240240,055
Maria MartinezPSU2025-02-041,3852,7705,54071,965
Thomas MirelesPSU2025-02-047,94015,88031,760412,562
Thomas MirelesPSU2025-02-0431,75563,510127,0201,404,206
Thomas MirelesRSU2025-02-0426,460687,431
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Eric Hambly$1,349,921$3,567,394$072.5%
Maria Martinez240,055317,165056.9%
E Botner400,0921,057,020072.5%
Daniel Hanchera360,083475,766056.9%
Thomas Mireles687,4311,816,768072.5%

% 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
Eric HamblyPSU228,151$7,129,710
Eric HamblyRSU135,3654,230,148
Thomas MirelesPSU142,3344,447,949
Thomas MirelesRSU106,7633,336,341
E BotnerPSU80,6822,521,301
E BotnerRSU60,4331,888,519
Daniel HancheraRSU45,4781,421,175
Daniel HancheraPSU37,2811,165,031
Maria MartinezRSU32,4251,013,297
Maria MartinezPSU22,279696,233
05

Incentive-plan design — the Compensation Discussion & Analysis

The Company’s executive compensation program is designed to attract, motivate, and retain the Named Executive Officers who are critical to the Company’s success. Under these programs, the Named Executive Officers are rewarded for the achievement of specific annual, long-term and strategic goals, corporate goals, and the realization of increased stockholder value.

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultantMeridian Compensation Partners LLC
Clawback policytrue
Anti-hedging
Anti-pledging
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-13117,714,410988,954346,86198.88%Passed
20252025-05-14112,573,5817,030,317568,54394.12%Passed
20242024-05-08123,604,5981,684,081214,47898.66%Passed
20232023-05-10122,813,9192,586,070283,13597.94%Passed
20222022-05-11125,268,6261,567,495182,86598.76%Passed
20212021-05-1294,391,41121,438,879285,05881.49%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
20262026-05-1398.88%a
20252025-05-1494.12%b
20242024-05-0898.66%c

a. Approved under the standard stated in the filing — “Abstentions have the same effect of votes "AGAINST" a proposal.”.

b. Approved under the standard stated in the filing — “Abstentions and broker non-votes are not counted as votes cast and have no effect on the outcome of any of the proposals.”.

c. Approved under the standard stated in the filing — “Abstentions and broker non-votes are not counted as votes cast and have no effect on the outcome of any of the proposals.”.

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)38 : 1
CEO total compensation
Median employee compensation
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Claiborne P. DemingIndependent · Board Chair$165,000$275,058$0$0$7,500$447,558
R. Madison MurphyIndependent · Finance (Chair) · Health, Safety, Environment and Corporate Responsibility110,000200,0200030,000358,308
Jeffrey W. NolanIndependent · Compensation · Finance · Nominating and Governance (Chair)99,375200,0200030,000329,395
Laura A. SuggIndependent · Compensation (Chair) · Finance · Nominating and Governance110,000200,0200015,000325,020
Robert N. Ryan JrIndependent · Compensation · Finance · Health, Safety, Environment and Corporate Responsibility90,000200,0200030,000320,020
Lawrence R. DickersonIndependent · Audit (Chair) · Nominating and Governance117,000200,020000317,020
Elisabeth W. KellerIndependent · Audit · Health, Safety, Environment and Corporate Responsibility (Chair) · Nominating and Governance105,000200,020000305,020
Michelle A. EarleyIndependent · Audit · Compensation · Health, Safety, Environment and Corporate Responsibility90,000200,02000104290,124
Robert B. Tudor IIIIndependent · Audit90,000200,020000290,020
09

Board fee structure and ownership guideline

Annual cash retainer$90,000
Annual equity retainer$200,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)20,000 / 20,000 / 15,000
Stock ownership guideline$450,000
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$976,375
Equity awards (grant-date value)$1,875,218
All other compensation$112,604
Total cost of the board$2,964,197

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 Murphy 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 Murphy Oil.

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
1EOG Resources, Inc.2025Ezra Yacob$1,434,615$12,729,628$0$2,718,800$17,576,636
2Diamondback Energy, Inc.2025Kaes Van t Hof1,109,50011,101,46202,676,35014,931,423
3Ovintiv Inc.2025Brendan McCracken1,185,0009,900,00502,136,75013,693,140
4APA Corporation2025John Christmann IV1,300,0006,018,4361,897,9963,454,36013,202,517
5Devon Energy Corporation2025Clay Gaspar938,1259,633,68901,612,00012,566,384
6Permian Resources Corporation2025James Walter011,432,8420011,432,842
7Expand Energy Corporation2025Domenic Dell'Osso947,3468,890,4449,879,106
8Matador Resources Company2024Joseph Foran1,500,0003,010,30003,900,0008,437,049
9Range Resources Corporation2025Dennis Degner932,5006,143,87701,128,0008,375,421
10Murphy Oil2025Eric Hambly950,0004,917,31501,324,0637,651,445
11SM Energy Company2025Elizabeth McDonald576,3692,299,9950536,0244,475,172
SPDR S P Oil Gas Exploration Production ETFnot in coverage universe
Chord Energy Corporationnot in coverage universe
Kosmos Energy Ltd.not in coverage universe
Talos Energy, Inc.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.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Murphy Oilnot disclosednot disclosednot disclosedMeridian Compensation Partners LLC
APA Corporation189.8%PSU 60 · Options 20 · RSU 20Yes — Relative TSRPearl Meyer & Partners, LLC
Chord Energy Corporationnot disclosednot disclosednot disclosednot disclosed
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
EOG Resources, Inc.125%PSU 60 · RSU 40Yes — Relative TSR vs Performance Peer GroupMeridian Compensation Partners, LLC
Expand Energy Corporation150%PSU 70 · RSU 30Yes — Absolute Total Shareholder Return (aTSR)Meridian Compensation Partners, LLC
Kosmos Energy Ltd.not disclosednot disclosednot disclosednot disclosed
Matador Resources Company260%PSU 50 · Cash LTI 50NoMeridian Compensation Partners, LLC
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.
SPDR S P Oil Gas Exploration Production ETFnot disclosednot disclosednot disclosednot disclosed
Talos Energy, Inc.not 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, Eric HamblyDEF 14A2026-03-270001193125-26-127236Section “Executive Compensation”. As printed: 7,651,445. Filing ↗machine: r6 · c39 · span 786403–786412
2Section 01, Thomas MirelesDEF 14A2026-03-270001193125-26-127236Section “Executive Compensation”. As printed: 4,297,491. Filing ↗machine: r10 · c39 · span 801515–801524
3Section 01, E BotnerDEF 14A2026-03-270001193125-26-127236Section “Executive Compensation”. As printed: 3,046,970. Filing ↗machine: r14 · c39 · span 816695–816704
4Section 01, Daniel HancheraDEF 14A2026-03-270001193125-26-127236Section “Executive Compensation”. As printed: 1,900,084. Filing ↗machine: r18 · c39 · span 831645–831654
5Section 01, Maria MartinezDEF 14A2026-03-270001193125-26-127236Section “Executive Compensation”. As printed: 1,475,571. Filing ↗machine: r22 · c39 · span 846691–846700
6Section 03, Eric Hambly PSUDEF 14A2026-03-270001193125-26-127236Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 880143–880152
7Section 03, Maria Martinez PSUDEF 14A2026-03-270001193125-26-127236Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 992077–992084
8Section 03, E Botner RSUDEF 14A2026-03-270001193125-26-127236Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 950676–950683
9Section 03, E Botner PSUDEF 14A2026-03-270001193125-26-127236Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 936502–936509
10Section 03, E Botner PSUDEF 14A2026-03-270001193125-26-127236Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 943549–943556
11Section 03, Daniel Hanchera RSUDEF 14A2026-03-270001193125-26-127236Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 978014–978021
12Section 03, Eric Hambly PSUDEF 14A2026-03-270001193125-26-127236Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 887194–887201
13Section 03, Eric Hambly RSUDEF 14A2026-03-270001193125-26-127236Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 894321–894330
14Section 03, Daniel Hanchera PSUDEF 14A2026-03-270001193125-26-127236Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 970912–970919
15Section 03, Daniel Hanchera PSUDEF 14A2026-03-270001193125-26-127236Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 964278–964285
16Section 03, Maria Martinez RSUDEF 14A2026-03-270001193125-26-127236Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 1006248–1006255
17Section 03, Maria Martinez PSUDEF 14A2026-03-270001193125-26-127236Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 999123–999129
18Section 03, Thomas Mireles PSUDEF 14A2026-03-270001193125-26-127236Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 915340–915347
19Section 03, Thomas Mireles PSUDEF 14A2026-03-270001193125-26-127236Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 908315–908324
20Section 03, Thomas Mireles RSUDEF 14A2026-03-270001193125-26-127236Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 922442–922449
21Section 07, pay ratioDEF 14A2026-03-270001193125-26-127236Section “CEO Pay Ratio”. As printed: 38 : 1. Filing ↗
22Section 08, Claiborne P. DemingDEF 14A2026-03-270001193125-26-127236Section “Director Compensation”. As printed: 447,558. Filing ↗machine: span 328910–328917
23Section 08, R. Madison MurphyDEF 14A2026-03-270001193125-26-127236Section “Director Compensation”. As printed: 358,308. Filing ↗machine: span 340699–340706
24Section 08, Jeffrey W. NolanDEF 14A2026-03-270001193125-26-127236Section “Director Compensation”. As printed: 329,395. Filing ↗machine: span 343670–343677
25Section 08, Laura A. SuggDEF 14A2026-03-270001193125-26-127236Section “Director Compensation”. As printed: 325,020. Filing ↗machine: span 349535–349542
26Section 08, Robert N. Ryan JrDEF 14A2026-03-270001193125-26-127236Section “Director Compensation”. As printed: 320,020. Filing ↗machine: span 346630–346637
27Section 08, Lawrence R. DickersonDEF 14A2026-03-270001193125-26-127236Section “Director Compensation”. As printed: 317,020. Filing ↗machine: span 331873–331880
28Section 08, Elisabeth W. KellerDEF 14A2026-03-270001193125-26-127236Section “Director Compensation”. As printed: 305,020. Filing ↗machine: span 337779–337786
29Section 08, Michelle A. EarleyDEF 14A2026-03-270001193125-26-127236Section “Director Compensation”. As printed: 290,124. Filing ↗machine: span 334829–334836
30Section 08, Robert B. Tudor IIIDEF 14A2026-03-270001193125-26-127236Section “Director Compensation”. As printed: 290,020. Filing ↗machine: span 353767–353774
31Section 06, 2026 voteForm 8-K2026-05-140001628280-26-035154Item 5.07 · say-on-pay result. As reported: 98.88% (votes for as printed: 117,714,410). Filing ↗
32Section 06, 2025 voteForm 8-K2025-05-150000717423-25-000016Item 5.07 · say-on-pay result. As reported: 94.12% (votes for as printed: 112,573,581). Filing ↗
33Section 06, 2024 voteForm 8-K2024-05-100000717423-24-000017Item 5.07 · say-on-pay result. As reported: 98.66% (votes for as printed: 123,604,598). Filing ↗
34Section 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
35Section 09b board cost (computed)ComputedcomputedCash 976,375 + equity 1,875,218 + all other 112,604 = 2,964,197, summed across the director compensation table rows.machine: formula: Σ = 2,964,197
36EOG Resources, Inc., Section 10b CEO totalDEF 14A2026-03-270001104659-26-036125CEO total compensation as printed in EOG Resources, Inc.'s own proxy. As printed: 17,576,636. Filing ↗machine: t153 · r6 · c17 · span 1140550–1140560
37Diamondback 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
38Ovintiv 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
39APA 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
40Devon 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
41Permian 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
42Expand Energy Corporation, Section 10b CEO totalDEF 14A2026-04-240001104659-26-048155CEO total compensation as printed in Expand Energy Corporation's own proxy. As printed: 9,879,106. Filing ↗
43Matador 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
44Range 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
45Murphy Oil (subject), Section 10b CEO totalDEF 14A2026-03-270001193125-26-127236CEO total compensation as printed in Murphy Oil's own proxy. As printed: 7,651,445. Filing ↗machine: r6 · c39 · span 786403–786412
46SM 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
47Section 10a, Range Resources Corporation reciprocityDEF 14A0001193125-26-134699Range Resources Corporation names Murphy Oil in its own disclosed peer group (read from its most recent proxy). Filing ↗
48Section 10a, EOG Resources, Inc. reciprocityDEF 14A0001104659-26-036125EOG Resources, Inc.'s most recent proxy was read; its disclosed peer group does not include Murphy Oil. Filing ↗
49Section 10a, Matador Resources Company reciprocityDEF 14A0001520006-26-000013Matador Resources Company names Murphy Oil in its own disclosed peer group (read from its most recent proxy). Filing ↗
50Section 10a, Diamondback Energy, Inc. reciprocityDEF 14A0001308179-26-000242Diamondback Energy, Inc.'s most recent proxy was read; its disclosed peer group does not include Murphy Oil. Filing ↗
51Section 10a, Ovintiv Inc. reciprocityDEF 14A0001193125-26-124351Ovintiv Inc. names Murphy Oil in its own disclosed peer group (read from its most recent proxy). Filing ↗
52Section 10a, Permian Resources Corporation reciprocityDEF 14A0001658566-26-000062Permian Resources Corporation names Murphy Oil in its own disclosed peer group (read from its most recent proxy). Filing ↗
53Section 10a, Expand Energy Corporation reciprocityDEF 14A0001104659-26-048155Expand Energy Corporation names Murphy Oil in its own disclosed peer group (read from its most recent proxy). Filing ↗
54Section 10a, Devon Energy Corporation reciprocityDEF 14A0001104659-26-067065Devon Energy Corporation's most recent proxy was read; its disclosed peer group does not include Murphy Oil. Filing ↗
55Section 10a, SM Energy Company reciprocityDEF 14A0000893538-26-000048SM Energy Company names Murphy Oil in its own disclosed peer group (read from its most recent proxy). Filing ↗
56Section 10a, APA Corporation reciprocityDEF 14A0001193125-26-149453APA Corporation names Murphy Oil in its own disclosed peer group (read from its most recent proxy). Filing ↗