Marathon Petroleum Corp. Announces Executive & Director Changes
Ticker: MPC · Form: 8-K · Filed: Oct 31, 2024 · CIK: 1510295
| Field | Detail |
|---|---|
| Company | Marathon Petroleum CORP (MPC) |
| Form Type | 8-K |
| Filed Date | Oct 31, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $185,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: corporate-governance, executive-compensation, director-changes
Related Tickers: MPC
TL;DR
MPC board shakeup: new director in, one out. Officer pay details updated.
AI Summary
Marathon Petroleum Corporation (MPC) announced on October 30, 2024, changes in its executive and director roles. Specifically, the company reported the departure of a director and the election of a new director, along with updates to compensatory arrangements for certain officers. The filing details these personnel changes and their implications for the company's governance and compensation structure.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — This filing primarily concerns routine corporate governance changes, such as director appointments and compensation updates, which typically carry low immediate risk.
Key Players & Entities
- Marathon Petroleum Corporation (company) — Registrant
- October 30, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of incorporation
- 539 South Main Street, Findlay, Ohio 45840 (address) — Principal executive offices
FAQ
What specific roles have been affected by the director changes?
The filing indicates the departure of a director and the election of a new director, but does not specify the exact committee or leadership roles that have been affected by these changes.
When was the effective date of these reported changes?
The date of the earliest event reported is October 30, 2024, and the date as of change is also October 30, 2024.
Are there any details provided on the new compensatory arrangements for officers?
The filing mentions updates to 'Compensatory Arrangements of Certain Officers' as an item being reported, but the specific details of these arrangements are not included in the provided text.
What is Marathon Petroleum Corporation's primary industry?
Marathon Petroleum Corporation is in the PETROLEUM REFINING industry, with SIC code 2911.
Where is Marathon Petroleum Corporation headquartered?
Marathon Petroleum Corporation's principal executive offices are located at 539 South Main Street, Findlay, Ohio 45840.
Filing Stats: 496 words · 2 min read · ~2 pages · Grade level 13.3 · Accepted 2024-10-31 16:18:36
Key Financial Figures
- $185,000 — mployee directors has been increased to $185,000 per year. SIGNATURES Pursuant to the
Filing Documents
- mpc-20241030.htm (8-K) — 24KB
- 0001510295-24-000073.txt ( ) — 145KB
- mpc-20241030.xsd (EX-101.SCH) — 2KB
- mpc-20241030_lab.xml (EX-101.LAB) — 21KB
- mpc-20241030_pre.xml (EX-101.PRE) — 12KB
- mpc-20241030_htm.xml (XML) — 3KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Marathon Petroleum Corporation Date: October 31, 2024 By: /s/ Molly R. Benson Name: Molly R. Benson Title: Chief Legal Officer and Corporate Secretary