Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-04-29

SM Energy (SM)

CEO Elizabeth McDonald was paid $4,475,172 in fiscal year 2025, ↑ up 25.7% from fiscal year 2024, the 1st percentile of its disclosed peer group (SEC filing 0000893538-26-000048 ↗): 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.

$7,878,612
Herbert Vogel total, FY2025
Former President, Chief Executive Officer and Director — highest-paid officer; CEO Elizabeth McDonald: $4,475,172
1st
CEO (Elizabeth McDonald) pay percentile vs peers
39:1
CEO-to-median pay ratio
93.25%
Say-on-pay support, latest vote

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SM's next annual pay disclosure, estimated April 9, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Herbert Vogel$889,262$0$5,500,001$0$992,416$342,029$154,904$7,878,612
Former President, Chief Executive Officer and Director
Elizabeth McDonald576,369875,0002,299,9950536,0240187,7844,475,172
President, Chief Executive Officer and Director
A. Wade Pursell581,95702,499,9890541,220215,85321,0003,860,019
Executive Vice President and Chief Financial Officer
James Lebeck462,48501,699,9870344,089048,2912,554,852
Executive Vice President - Chief Corporate Development Officer, General Counsel and Corporate Secretary
Kenneth Knott413,3930800,0020288,342171,05969,2061,742,002
Advisor, Former Senior Vice President - Business Development and Land

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 FY2024→2025
Herbert Vogel$7,878,612$12,240,662$11,060,630↓ −4,362,050
Elizabeth McDonald4,475,1723,559,794—↑ +915,378
A. Wade Pursell3,860,0195,666,7124,703,822↓ −1,806,693
James Lebeck2,554,8522,572,6412,890,081↓ −17,789
Kenneth Knott1,742,0022,267,4031,992,745↓ −525,401

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

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Companies that benchmark against SM
19 companies name SM as a compensation peer

The list of companies that name SM as a peer is temporarily unavailable — recheck shortly.

01b

Executives — the named officers

One page per officer: the same table above, read for one person at a time — his own figure and every fiscal year the register holds.

ExecutiveRoleFY2025 total
A. Wade PursellCFO$3,860,019
Elizabeth McDonaldCEO$4,475,172
Herbert VogelExecutive$7,878,612
James LebeckGeneral Counsel$2,554,852
Kenneth KnottExecutive$1,742,002
01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
Anita M. PowersIndependent Director$280,038
Ashwin VenkatramanIndependent Director$280,023
Barton R. BrookmanIndependent Director$285,038
Carla J. BailoIndependent Director$300,023
Carrie M. FoxIndependent Director—
Julio M. QuintanaIndependent Director$428,697
Lloyd W. Helms JrDirector—
Morris R. ClarkIndependent Director—
Ramiro G. PeruIndependent Director$330,023
Rose M. RobesonIndependent Director$300,023
Stephen R. BrandFormer director (through FY2025)—
William D. SullivanIndependent Director$285,038
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
James LebeckPSU2025-07-017,74130,965—61,930$849,989
Kenneth KnottPSU2025-07-013,64314,572—29,144400,001
Herbert VogelPSU2025-07-0130,055120,219—240,4383,300,012
Herbert VogelRSU2025-07-01——84,485—2,199,989
James LebeckRSU2025-07-01——32,642—849,998
A. Wade PursellRSU2025-07-01——48,003—1,249,998
Elizabeth McDonaldPSU2025-07-0110,47441,894—83,7881,149,990
Elizabeth McDonaldRSU2025-07-01——44,163—1,150,005
Kenneth KnottRSU2025-07-01——15,361—400,000
A. Wade PursellPSU2025-07-0111,38445,537—91,0741,249,991
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
James Lebeck$849,998$849,989$050.0%
Kenneth Knott400,000400,001050.0%
Herbert Vogel2,199,9893,300,012060.0%
A. Wade Pursell1,249,9981,249,991050.0%
Elizabeth McDonald1,150,0051,149,990050.0%

% 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
A. Wade PursellPSU37,590—$702,933
Elizabeth McDonaldPSU19,380—362,406
Elizabeth McDonaldPSU44,163—825,848
James LebeckPSU16,707—312,421
James LebeckPSU12,216—228,439
Elizabeth McDonaldPSU26,895—502,937
Elizabeth McDonaldPSU41,894—783,418
Kenneth KnottPSU14,572—272,496
Herbert VogelPSU120,219—2,248,095
Herbert VogelPSU100,240—1,874,488
Herbert VogelPSU84,485—1,579,870
Herbert VogelPSU77,177—1,443,210
Herbert VogelPSU33,593—628,189
James LebeckPSU32,642—610,405
James LebeckPSU30,965—579,046
A. Wade PursellPSU29,234—546,676
Herbert VogelPSU21,076—394,121
A. Wade PursellPSU19,087—356,927
James LebeckPSU18,710—349,877
James LebeckPSU14,698—274,853
Kenneth KnottPSU9,355—174,939
Kenneth KnottPSU6,109—114,238
James LebeckPSU5,269—98,530
Kenneth KnottPSU15,361—287,251
Kenneth KnottPSU3,952—73,902
A. Wade PursellPSU45,537—851,542
A. Wade PursellPSU48,003—897,656
A. Wade PursellPSU11,855—221,689
Kenneth KnottPSU12,530—234,311
05

Incentive-plan design — the Compensation Discussion & Analysis

We designed our executive compensation program to incentivize long-term value creation by linking pay to a balanced mix of financial, operational, and sustainability-based metrics over time. Our Compensation Committee regularly evaluates and, as appropriate, modifies our program to align executive pay with Company performance and our stockholders' experience throughout industry cycles.

CEO STI target (% of salary)120%
CEO LTI target (% of salary)—
Independent consultantFrederic W. Cook & Co., Inc.
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20252025-05-2287,906,5716,159,449205,04893.25%Passed
20242024-05-2398,928,9761,056,679489,56598.46%Passed
20232023-05-2594,573,2091,708,739273,80197.95%Passed
20222022-05-2693,416,2073,041,050135,61296.71%Passed
20212021-05-2779,837,1153,052,85559,97396.25%Passed
20202020-05-2768,081,83710,830,201102,46886.16%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
20252025-05-2293.25%a
20242024-05-2398.46%b
20232023-05-2597.95%c

a. Approved under the standard stated in the filing — “Abstentions will be counted in determining the total number of shares "entitled to vote" on this proposal and will have the same effect as a vote "Against" the proposal.”.

b. Approved under the standard stated in the filing — “Abstentions will be counted in determining the total number of shares "entitled to vote" on this proposal and will have the same effect as a vote "Against" the proposal.”.

c. Approved under the standard stated in the filing — “Abstentions will be counted in determining the total number of shares "entitled to vote" on this proposal and will have the same effect as a vote "Against" the 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)39 : 1
CEO total compensation—
Median employee compensation$202,421
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Julio M. QuintanaIndependent · Audit · Compensation · Newly elected$95,000$325,030——$8,667$428,697
Ramiro G. PeruIndependent · Audit · Compensation · Newly elected120,000185,023——25,000330,023
Rose M. RobesonIndependent · Compensation · Audit · Newly elected115,000185,023———300,023
Carla J. BailoIndependent · Audit · Newly elected115,000185,023———300,023
William D. SullivanIndependent · Audit · Newly elected—280,038——5,000285,038
Barton R. BrookmanIndependent · Compensation · Audit · Newly elected—280,038——5,000285,038
Anita M. PowersIndependent · Audit · Newly elected—280,038———280,038
Ashwin VenkatramanIndependent · Audit · Newly elected95,000185,023———280,023
Morris R. ClarkIndependent · Audit · Newly elected00——00
Stephen R. BrandIndependent · Not standing for re-election · Departed during FY00——00
Carrie M. FoxIndependent · Audit · Newly elected00——00
Elizabeth A. McDonaldIndependent · Executive · Compensation · Newly elected00——00
Lloyd W. Helms JrEmployee director · Audit · Newly elected00——00
09

Board fee structure and ownership guideline

Annual cash retainer$95,000
Annual equity retainer$185,000
Per board meeting fee$1,500
Committee chair fees (audit / comp / nom-gov)25,000 / 20,000
Stock ownership guideline5x annual cash retainer ($475,000)
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$540,000
Equity awards (grant-date value)$1,905,236
All other compensation$43,667
Total cost of the board$2,488,903

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 SM Energy 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 SM Energy.

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
1Comstock Resources, Inc.2025M. Jay Allison$1,039,500$16,549,171$0$2,013,512$21,934,257
2Ovintiv Inc.2025Brendan McCracken1,185,0009,900,00502,136,75013,693,140
3California Resources Corporation2025Francisco Leon930,7699,070,69901,459,20012,076,766
4Permian Resources Corporation2025James Walter011,432,8420011,432,842
5Matador Resources Company2025Joseph Foran1,800,0004,222,40003,726,0009,775,611
6Talos Energy Inc.2025Paul Goodfellow819,5556,513,94801,870,7819,351,093
7Chord Energy Corporation2025Daniel Brown850,0006,362,91001,275,0008,567,235
8Civitas Resources, Inc.2024M. Christopher Doyle1,431,1506,933,919008,385,769
9Range Resources Corporation2025Dennis Degner932,5006,143,87701,128,0008,375,421
10Murphy Oil Corporation2025Eric Hambly950,0004,917,31501,324,0637,651,445
11CNX Resources Corporation2025Nicholas DeIuliis800,0003,000,02402,396,0007,420,318
12Gulfport Energy Corporation2025John Reinhart919,7265,277,43701,098,9007,323,707
13Magnolia Oil & Gas Corporation2025Christopher Stavros870,1924,314,30901,480,5006,693,001
14Antero Resources Corporation2025Michael Kennedy655,4704,325,73401,678,3076,687,656
15Northern Oil & Gas, Inc.2025Nicholas O'Grady925,0002,815,68301,638,5645,602,413
16Kosmos Energy Ltd.2025Andrew Inglis1,196,6813,715,420004,976,958
17SM Energy2025Elizabeth McDonald576,3692,299,9950536,0244,475,172
—Vital 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
SM Energy93%PSU 60 · RSU 40Yes — Absolute TSRFrederic W. Cook & Co., Inc.
Antero Resources Corporation157.2%PSU 50 · RSU 50Yes — Absolute TSRCBIZ Compensation Consulting
California Resources Corporationnot disclosedPSU 60 · RSU 40not disclosedLyons Benenson & Company Inc.
Chord Energy Corporationnot disclosednot disclosednot disclosedMeridian Compensation Partners, LLC
Civitas Resources, Inc.not disclosedPSU 70 · RSU 30Yes — Absolute TSRMeridian Compensation Partners, LLC
CNX Resources Corporationnot disclosedRSU 50 · PSU 40 · ESG PSU 10not disclosednot disclosed
Comstock Resources, Inc.not disclosednot disclosednot disclosedMeridian Compensation Partners, LLC
Gulfport Energy Corporationnot disclosedPRSU 60 · RSU 40not disclosedWTW
Kosmos Energy Ltd.not disclosedPSU 67 · RSU 33not disclosedMeridian Compensation Partners, LLC
Magnolia Oil & Gas Corporationnot disclosedRSU 50 · PSU 50not disclosedFW Cook
Matador Resources Companynot disclosedCash LTI 50 · PSU 50NoMeridian Compensation Partners, LLC
Murphy Oil Corporationnot disclosednot disclosednot disclosedMeridian Compensation Partners LLC
Northern Oil & Gas, Inc.136.5%MSU 88 · RSU 12Yes — 3-Year Absolute TSRWillis Towers Watson
Ovintiv Inc.140%RSU 50 · PSU 50Yes — Relative TSRFW Cook
Permian Resources Corporation150%PSU 100Yes — Relative TSRMeridian Compensation Partners, LLC
Range Resources Corporationnot disclosedPSU 60 · RSU 40Yes — Total Stockholder Return (TSR)Meridian Compensation Partners, LLC
Talos Energy Inc.not disclosedRSU 50 · PSU 50not disclosedMeridian
Vital 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.

10d

Frequently asked questions

Who was the highest-paid executive at SM Energy in fiscal 2025?
As disclosed, Herbert Vogel (Former President, Chief Executive Officer and Director) was the highest-paid executive at SM Energy in fiscal 2025, with total compensation of $7,878,612.
How does SM Energy's chief executive pay compare to its disclosed peer group?
As disclosed, Elizabeth McDonald's total compensation ranked at the 1st percentile of SM Energy's disclosed peer group.
What is SM Energy's CEO-to-median employee pay ratio?
As disclosed, SM Energy's CEO-to-median employee pay ratio was 39:1.
How did shareholders vote on SM Energy's executive compensation?
As disclosed, 93.25% of shareholders supported SM Energy's executive compensation in the latest say-on-pay vote.
How much does SM Energy spend in total on board compensation for fiscal 2025?
As disclosed, SM Energy reported total board compensation of $2,488,903 for fiscal 2025.

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.

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, Herbert VogelDEF 14A2026-04-080000893538-26-000048Section “Summary Compensation Table” · page 70. As printed: 7,878,612. Filing ↗machine: t57 · r10 · c29 · span 707761–707770
2Section 01, Elizabeth McDonaldDEF 14A2026-04-080000893538-26-000048Section “Summary Compensation Table” · page 70. As printed: 4,475,172. Filing ↗machine: span 673171–673180
3Section 01, A. Wade PursellDEF 14A2026-04-080000893538-26-000048Section “Summary Compensation Table” · page 70. As printed: 3,860,019. Filing ↗machine: span 682109–682118
4Section 01, James LebeckDEF 14A2026-04-080000893538-26-000048Section “Summary Compensation Table” · page 70. As printed: 2,554,852. Filing ↗machine: span 694889–694898
5Section 01, Kenneth KnottDEF 14A2026-04-080000893538-26-000048Section “Summary Compensation Table” · page 70. As printed: 1,742,002. Filing ↗machine: span 720546–720555
6Section 03, James Lebeck PSUDEF 14A2026-04-080000893538-26-000048Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t58 · r11 · c15 · span 772587–772593
7Section 03, Kenneth Knott PSUDEF 14A2026-04-080000893538-26-000048Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t58 · r17 · c15 · span 791913–791919
8Section 03, Herbert Vogel PSUDEF 14A2026-04-080000893538-26-000048Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t58 · r14 · c15 · span 782075–782082
9Section 03, Herbert Vogel RSUDEF 14A2026-04-080000893538-26-000048Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t58 · r13 · c19 · span 779636–779642
10Section 03, James Lebeck RSUDEF 14A2026-04-080000893538-26-000048Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t58 · r10 · c19 · span 770151–770157
11Section 03, A. Wade Pursell RSUDEF 14A2026-04-080000893538-26-000048Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t58 · r7 · c19 · span 760666–760672
12Section 03, Elizabeth McDonald PSUDEF 14A2026-04-080000893538-26-000048Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t58 · r5 · c15 · span 753618–753624
13Section 03, Elizabeth McDonald RSUDEF 14A2026-04-080000893538-26-000048Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t58 · r4 · c19 · span 751179–751185
14Section 03, Kenneth Knott RSUDEF 14A2026-04-080000893538-26-000048Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t58 · r16 · c19 · span 789125–789131
15Section 03, A. Wade Pursell PSUDEF 14A2026-04-080000893538-26-000048Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t58 · r8 · c15 · span 763105–763111
16Section 07, pay ratioDEF 14A2026-04-080000893538-26-000048Section “CEO Pay Ratio”. As printed: 39 : 1. Filing ↗machine: t5 · r33 · c1 · span 102098–102100
17Section 08, Julio M. QuintanaDEF 14A2026-04-080000893538-26-000048Section “Director Compensation”. As printed: 428,697. Filing ↗machine: t72 · r7 · c14 · span 1174067–1174305
18Section 08, Ramiro G. PeruDEF 14A2026-04-080000893538-26-000048Section “Director Compensation”. As printed: 330,023. Filing ↗machine: t72 · r5 · c14 · span 1168982–1169220
19Section 08, Rose M. RobesonDEF 14A2026-04-080000893538-26-000048Section “Director Compensation”. As printed: 300,023. Filing ↗machine: t72 · r8 · c14 · span 1176502–1176740
20Section 08, Carla J. BailoDEF 14A2026-04-080000893538-26-000048Section “Director Compensation”. As printed: 300,023. Filing ↗machine: t72 · r2 · c14 · span 1161474–1161712
21Section 08, William D. SullivanDEF 14A2026-04-080000893538-26-000048Section “Director Compensation”. As printed: 285,038. Filing ↗machine: t72 · r9 · c14 · span 1178969–1179207
22Section 08, Barton R. BrookmanDEF 14A2026-04-080000893538-26-000048Section “Director Compensation”. As printed: 285,038. Filing ↗machine: t72 · r4 · c14 · span 1166544–1166782
23Section 08, Anita M. PowersDEF 14A2026-04-080000893538-26-000048Section “Director Compensation”. As printed: 280,038. Filing ↗machine: t72 · r6 · c4 · span 1170073–1170311
24Section 08, Ashwin VenkatramanDEF 14A2026-04-080000893538-26-000048Section “Director Compensation”. As printed: 280,023. Filing ↗machine: t72 · r10 · c14 · span 1181917–1182189
25Section 08, Morris R. ClarkDEF 14A2026-04-080000893538-26-000048Section “Director Compensation”. As printed: 0. Filing ↗
26Section 08, Stephen R. BrandDEF 14A2026-04-080000893538-26-000048Section “Director Compensation”. As printed: 0. Filing ↗machine: t72 · r3 · c14 · span 1164238–1164239
27Section 08, Carrie M. FoxDEF 14A2026-04-080000893538-26-000048Section “Director Compensation”. As printed: 0. Filing ↗
28Section 08, Elizabeth A. McDonaldDEF 14A2026-04-080000893538-26-000048Section “Director Compensation”. As printed: 0. Filing ↗
29Section 08, Lloyd W. Helms JrDEF 14A2026-04-080000893538-26-000048Section “Director Compensation”. As printed: 0. Filing ↗
30Section 06, 2025 voteForm 8-K2025-05-270000893538-25-000044Item 5.07 · say-on-pay result. As reported: 93.25% (votes for as printed: 87,906,571). Filing ↗
31Section 06, 2024 voteForm 8-K2024-05-240000893538-24-000039Item 5.07 · say-on-pay result. As reported: 98.46% (votes for as printed: 98,928,976). Filing ↗
32Section 06, 2023 voteForm 8-K2023-05-300000893538-23-000040Item 5.07 · say-on-pay result. As reported: 97.95% (votes for as printed: 94,573,209). Filing ↗
33Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
34Section 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).machine: formula: sums + PSU ratio
35Section 09b board cost (computed)Computed——Cash 540,000 + equity 1,905,236 + all other 43,667 = 2,488,903, summed across the director compensation table rows.machine: formula: Σ = 2,488,903
36Comstock Resources, Inc., Section 10b CEO totalDEF 14A2026-04-220001193125-26-170561CEO total compensation as printed in Comstock Resources, Inc.'s own proxy. As printed: 21,934,257. Filing ↗machine: span 869756–869766
37Ovintiv 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
38California Resources Corporation, Section 10b CEO totalDEF 14A2026-03-180001193125-26-114093CEO total compensation as printed in California Resources Corporation's own proxy. As printed: 12,076,766. Filing ↗
39Permian 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
40Matador Resources Company, Section 10b CEO totalDEF 14A2026-04-290001520006-26-000013CEO total compensation as printed in Matador Resources Company's own proxy. As printed: 9,775,611. Filing ↗machine: r2 · c6 · span 1657541–1657551
41Talos Energy Inc., Section 10b CEO totalDEF 14A2026-04-220001193125-26-170385CEO total compensation as printed in Talos Energy Inc.'s own proxy. As printed: 9,351,093. Filing ↗machine: r4 · c34 · span 1025234–1025243
42Chord Energy Corporation, Section 10b CEO totalDEF 14A2026-03-190001486159-26-000010CEO total compensation as printed in Chord Energy Corporation's own proxy. As printed: 8,567,235. Filing ↗machine: span 1305435–1305444
43Civitas Resources, Inc., Section 10b CEO totalDEF 14A2025-04-210001558370-25-005077CEO total compensation as printed in Civitas Resources, Inc.'s own proxy. As printed: 8,385,769. Filing ↗
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 Corporation, Section 10b CEO totalDEF 14A2026-03-270001193125-26-127236CEO total compensation as printed in Murphy Oil Corporation's own proxy. As printed: 7,651,445. Filing ↗machine: r6 · c39 · span 786403–786412
46CNX Resources Corporation, Section 10b CEO totalDEF 14A2026-03-260001308179-26-000153CEO total compensation as printed in CNX Resources Corporation's own proxy. As printed: 7,420,318. Filing ↗machine: r1 · c25 · span 718010–718019
47Gulfport Energy Corporation, Section 10b CEO totalDEF 14A2026-04-080001213900-26-041489CEO total compensation as printed in Gulfport Energy Corporation's own proxy. As printed: 7,323,707. Filing ↗machine: r13 · c6 · span 1324664–1324674
48Magnolia Oil & Gas Corporation, Section 10b CEO totalDEF 14A2026-03-240001104659-26-033837CEO total compensation as printed in Magnolia Oil & Gas Corporation's own proxy. As printed: 6,693,001. Filing ↗machine: span 1032349–1032358
49Antero Resources Corporation, Section 10b CEO totalDEF 14A2026-04-230001308179-26-000330CEO total compensation as printed in Antero Resources Corporation's own proxy. As printed: 6,687,656. Filing ↗machine: t260 · r1 · c27 · span 557200–557209
50Northern Oil & Gas, Inc., Section 10b CEO totalDEF 14A2026-04-100001104485-26-000013CEO total compensation as printed in Northern Oil & Gas, Inc.'s own proxy. As printed: 5,602,413. Filing ↗machine: t117 · r4 · c12 · span 550610–550619
51Kosmos Energy Ltd., Section 10b CEO totalDEF 14A2026-04-160001140361-26-014971CEO total compensation as printed in Kosmos Energy Ltd.'s own proxy. As printed: 4,976,958. Filing ↗machine: r2 · c22 · span 925119–925128
52SM Energy (subject), Section 10b CEO totalDEF 14A2026-04-080000893538-26-000048CEO total compensation as printed in SM Energy's own proxy. As printed: 4,475,172. Filing ↗machine: span 673171–673180
53Section 10a, Northern Oil & Gas, Inc. reciprocityDEF 14A—0001104485-26-000013Northern Oil & Gas, Inc. names SM Energy in its own disclosed peer group (read from its most recent proxy). Filing ↗
54Section 10a, Comstock Resources, Inc. reciprocityDEF 14A—0001193125-26-170561Comstock Resources, Inc. names SM Energy in its own disclosed peer group (read from its most recent proxy). Filing ↗
55Section 10a, Antero Resources Corporation reciprocityDEF 14A—0001308179-26-000330Antero Resources Corporation's most recent proxy was read; its disclosed peer group does not include SM Energy. Filing ↗
56Section 10a, CNX Resources Corporation reciprocityDEF 14A—0001308179-26-000153CNX Resources Corporation's most recent proxy was read; its disclosed peer group does not include SM Energy. Filing ↗
57Section 10a, Gulfport Energy Corporation reciprocityDEF 14A—0001213900-26-041489Gulfport Energy Corporation names SM Energy in its own disclosed peer group (read from its most recent proxy). Filing ↗
58Section 10a, Kosmos Energy Ltd. reciprocityDEF 14A—0001140361-26-014971Kosmos Energy Ltd.'s most recent proxy was read; its disclosed peer group does not include SM Energy. Filing ↗
59Section 10a, Magnolia Oil & Gas Corporation reciprocityDEF 14A—0001104659-26-033837Magnolia Oil & Gas Corporation names SM Energy in its own disclosed peer group (read from its most recent proxy). Filing ↗
60Section 10a, Matador Resources Company reciprocityDEF 14A—0001520006-26-000013Matador Resources Company names SM Energy in its own disclosed peer group (read from its most recent proxy). Filing ↗
61Section 10a, Murphy Oil Corporation reciprocityDEF 14A—0001193125-26-127236Murphy Oil Corporation names SM Energy in its own disclosed peer group (read from its most recent proxy). Filing ↗
62Section 10a, California Resources Corporation reciprocityDEF 14A—0001193125-26-114093California Resources Corporation's most recent proxy was read; its disclosed peer group does not include SM Energy. Filing ↗
63Section 10a, Chord Energy Corporation reciprocityDEF 14A—0001486159-26-000010Chord Energy Corporation names SM Energy in its own disclosed peer group (read from its most recent proxy). Filing ↗
64Section 10a, Ovintiv Inc. reciprocityDEF 14A—0001193125-26-124351Ovintiv Inc.'s most recent proxy was read; its disclosed peer group does not include SM Energy. Filing ↗
65Section 10a, Permian Resources Corporation reciprocityDEF 14A—0001658566-26-000062Permian Resources Corporation names SM Energy in its own disclosed peer group (read from its most recent proxy). Filing ↗
66Section 10a, Range Resources Corporation reciprocityDEF 14A—0001193125-26-134699Range Resources Corporation names SM Energy in its own disclosed peer group (read from its most recent proxy). Filing ↗
67Section 10a, Civitas Resources, Inc. reciprocityDEF 14A—0001558370-25-005077Civitas Resources, Inc. names SM Energy in its own disclosed peer group (read from its most recent proxy). Filing ↗
68Section 10a, Talos Energy Inc. reciprocityDEF 14A—0001193125-26-170385Talos Energy Inc.'s most recent proxy was read; its disclosed peer group does not include SM Energy. Filing ↗

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