Marathon Petroleum Confirms Non-Emerging Growth Company Status

TL;DR

**MPC is officially a big company, not an 'emerging growth' one, meaning more SEC rules and transparency.**

AI Summary

On January 26, 2024, Marathon Petroleum Corporation (MPC) filed an 8-K to report that it is not an emerging growth company. This filing clarifies its regulatory status, indicating it has met the revenue or public float thresholds to be considered a more established company. For investors, this means MPC is subject to full SEC reporting requirements, which generally provides more transparency and regulatory oversight compared to emerging growth companies.

Why It Matters

This filing confirms Marathon Petroleum is a mature company, subject to full SEC disclosure rules, which provides investors with more comprehensive financial and operational information.

Risk Assessment

Risk Level: low — This filing is a routine disclosure about the company's regulatory status and does not indicate any new operational or financial risks.

Analyst Insight

Investors should recognize that MPC's non-emerging growth status implies a higher level of regulatory scrutiny and transparency, which can be beneficial for due diligence.

Key Numbers

• $.01 — par value per share (Common Stock par value)

Key Players & Entities

• Marathon Petroleum Corporation (company) — the registrant filing the 8-K
• January 26, 2024 (date) — date of earliest event reported
• New York Stock Exchange (company) — exchange where MPC Common Stock is registered
• 001-35054 (dollar_amount) — Commission File Number

Forward-Looking Statements

• Marathon Petroleum will continue to be subject to full SEC reporting requirements. (Marathon Petroleum Corporation) — high confidence, target: Ongoing

FAQ

From the Filing

0001510295-24-000008.txt : 20240131 0001510295-24-000008.hdr.sgml : 20240131 20240131162117 ACCESSION NUMBER: 0001510295-24-000008 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20240126 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20240131 DATE AS OF CHANGE: 20240131 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Marathon Petroleum Corp CENTRAL INDEX KEY: 0001510295 STANDARD INDUSTRIAL CLASSIFICATION: PETROLEUM REFINING [2911] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 271284632 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-35054 FILM NUMBER: 24583200 BUSINESS ADDRESS: STREET 1: 539 SOUTH MAIN STREET CITY: FINDLAY STATE: OH ZIP: 45840-3229 BUSINESS PHONE: 419-421-2159 MAIL ADDRESS: STREET 1: 539 SOUTH MAIN STREET CITY: FINDLAY STATE: OH ZIP: 45840-3229 8-K 1 mpc-20240126.htm 8-K mpc-20240126 0001510295 false 0001510295 2024-01-26 2024-01-26 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________________ FORM 8-K _____________________________________________ CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) January 26, 2024 _____________________________________________ Marathon Petroleum Corporation (Exact name of registrant as specified in its charter) _____________________________________________ Delaware   001-35054   27-1284632 (State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.) 539 South Main Street , Findlay , Ohio 45840 (Address of principal executive offices) (Zip code) Registrant’s telephone number, including area code: ( 419 )  422-2121 _____________________________________________ Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:  ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading symbol(s) Name of each exchange on which registered Common Stock, par value $.01 MPC New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On January 26, 2024, the Board of Directors (the “Board”) of Marathon Petroleum Corporation (the “Company”) increased the size of the Board to thirteen members and elected Ms. Eileen P. Drake and Ms. Kimberly N. Ellison-Taylor as directors of the Company, with such increase in the size of the Board and elections effective as of March 1, 2024. Ms. Drake was appointed to serve on the Board’s Compensation and Organization Development Committee and Sustainability and Publ