Marathon Petroleum management check
MPC · Energy · Oil & Gas Refining & Marketing · CEO Maryann T. Mannen
Filings as of
3 good · 3 to watch · 0 flagged, across the seven questions below.
- Good
Have owners done well?
Beat its chosen peers$100 invested at the start of fiscal 2021 grew to $448, against $329 for the peer group the company picked itself.
- Watch
Does pay follow performance?
Pay only loosely tracked returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of -0.27 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- n/a
What does the CEO cost owners?
Not enough dataNo pay or net income figure for the latest year.
- Watch
Do they own the stock?
CEO stake ≈ 1.8 years of payThe CEO holds 110,939 shares, directly or through trusts (unvested awards not counted): about 1.8 years of pay. 5 insiders sold $11.8m in the last six months and none bought. 3 of 11 sales ran on pre-arranged 10b5-1 plans.
- Good
Are owners being diluted?
Share count shrinkingDiluted shares changed -13.5% a year over the last three fiscal years. Stock-based pay was 0.1% of revenue in the latest year.
- Watch
Is leadership stable?
11 leadership filings in 3 years11 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Good
Are the books clean?
No red flags on fileNo restatements, auditor changes or late filings since 2021.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Energy.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 95 | 64 | |
| Pay for performance | 37 | 65 | |
| CEO cost | — | — | 66 |
| Skin in the game | 28 | 49 | |
| Dilution | 100 | 58 | |
| Stable leadership | 70 | 73 | |
| Clean books | 100 | 100 |
Closest peers
Others in Oil & Gas Refining & Marketing, by management score. Marathon Petroleum is 7th of 20 in its sector.
- 126EOGEOG Resources74
- 131VLOValero Energy73
- 157MPCMarathon Petroleum72
- 162HALHalliburton71
- 183SLBSchlumberger70
- 375PSXPhillips 6656
Pay versus performance
From the proxy statement filed March 16, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2025 | — | $19.0m | $22.5m | $6.7m | $448 | $329 | — |
| 2024 | — | $23.8m | $21.9m | $5.0m | $376 | $266 | — |
| 2023 | — | $24.1m | $49.6m | $5.6m | $392 | $284 | — |
| 2022 | — | $21.3m | $54.0m | $4.8m | $300 | $230 | — |
| 2021 | — | $21.2m | $34.9m | $5.6m | $161 | $135 | — |
The board says pay is tied most to MPC Relative TSR Performance Percentile. Its other key measures: MPC Relative PSU TSR, Relative Adjusted EBITDA per Barrel of Total Throughput, ACB Adjusted EBITDA, Distributable Cash Flow at MPLX per Unit, Relative Refining Margin per Barrel by Region, Relative Change in Free Cash Flow per Share.
Insiders and the CEO's stake
Maryann T. Mannen (Chairman, President & CEO) held 110,939 shares directly after their latest Form 4 on Aug 3, 2026, roughly $34.6m at that filing's price.
5 insiders sold $11.8m in the last six months and none bought. 3 of 11 sales ran on pre-arranged 10b5-1 plans.
- SoldMolly R BensonChief Legal Ofc & Corp Sec · 10b5-1 plan$6.2mAug 17, 2026
- SoldMichael A Ii HenschenEx VP, Refining$3.8mAug 12, 2026
- SoldShawn M LyonSVP Log & Storage, MPLX GP LLC$1.4mAug 31, 2026
- SoldRicky D. HesslingChief Commercial Officer$250kMay 13, 2026
Leadership and governance on file
- Dec 18, 2025Leadership change8-K 5.02
- Nov 4, 2025Leadership change8-K 5.02
- Apr 30, 2025Leadership change8-K 5.02
- Jan 24, 2025Leadership change8-K 5.02
- Oct 31, 2024Leadership change8-K 5.02
- Aug 6, 2024Leadership change8-K/A 5.02
- May 13, 2024Leadership change8-K 5.02
- Jan 31, 2024Leadership change8-K 5.02
- Jan 9, 2024Leadership change8-K 5.02
- Dec 21, 2023Leadership change8-K 5.02
- Oct 30, 2023Leadership change8-K 5.02
- May 19, 2023Leadership change8-K 5.02
Latest shareholder vote results: May 1, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $47.1bn returned to owners in buybacks and dividends, 114% of net income, and $749.0m of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $120.0bn | $177.5bn | $148.4bn | $138.9bn | $132.7bn |
| Net income | $9.7bn | $14.5bn | $9.7bn | $3.4bn | $4.0bn |
| Stock-based pay | $88.0m | $153.0m | $211.0m | $137.0m | $160.0m |
| Buybacks | $4.7bn | $11.9bn | $11.6bn | $9.2bn | $3.5bn |
| Dividends | $1.5bn | $1.3bn | $1.3bn | $1.2bn | $1.1bn |
| Diluted shares | 638m | 516m | 409m | 341m | 306m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.