In 2023, Gary R. Heminger earned $6.44M in total compensation at Marathon Petroleum, including $1.75M salary and $4.69M bonus. Most recently acquired 211,045 shares in Apr 2020. Currently holds stock worth $59.36M. Led Marathon Petroleum as CEO for 5 years.
Compensation History
Annual executive compensation data for Gary R. Heminger, including salary, bonuses, and stock awards.
Year
2023
Total Compensation
$6.44M
Salary
$1.75M
Bonus
$4.69M
Other
$0.00
Salary
$1.75MBoard Justification
The compensation philosophy of Marathon Petroleum Corporation is to align executive compensation with company performance, shareholder interests, and market competitiveness. The company uses a mix of fixed and variable compensation to attract, retain, and motivate talented executives.
Bonus
$4.69MBoard Justification
The bonus for 2023 was determined based on the company's performance metrics, which included financial and ESG performance measures. The performance metrics were assessed by the Compensation and Organization Development Committee, resulting in a final award of $4,688,700, which is 162.38% of the target bonus.
Other Compensation
$0.00Board Justification
There is no mention of other compensation for 2023 in the provided section of the proxy statement.
Restricted Stock
Board Justification
There is no mention of vested stock for 2023 in the provided section of the proxy statement.
Performance Metrics
The performance metrics for determining the CEO's compensation in 2023 included financial measures such as adjusted EBITDA and distributable cash flow at MPLX per unit, as well as ESG measures like greenhouse gas intensity and diversity, equity, and inclusion goals.
Gary R. Heminger
Ex-CEO of Marathon Petroleum
Education
Bachelor's degree in chemical engineering from Drexel University
Field of Expertise
Technology & Engineering - Engineering
Sector of Economy
Energy
Born
March 30, 1954 - 71 years ago
CEO of Marathon Petroleum for
5 years 7 months (Jul 2014 - Mar 2020)
Previous Experience
President, Crude, NGL and Refined Products of Energy Transfer Partners L.P.; President and Chief Executive Officer of Sunoco Logistics Partners L.P.
Other Marathon Petroleum CEOs
Holdings
Track Gary R. Heminger's stock holdings and portfolio value over time.
Total Stock Sold
$21.16M
$21.16M
349,232 MPC shares
What if they kept their stock?
If Gary R. Heminger didn't sell their stock, today they would have:
Extra MPC349,232 shares worth $66.41M.
This is 213.83% and $45.25M more than what they got when they sold the stock.
Insider Trading
Gary R. Heminger's recent stock transactions, purchases, and sales filed with the SEC.
211,045 shares
MPC
Apr 28, 2020
Received
11,829 shares
MPC
Jan 27, 2020
Received
10,339 shares
MPLX
Jan 24, 2020
Received
$1.17M
MPLX at $27.37/share
Aug 7, 2019
Purchase
42,195 shares
MPLX
Mar 1, 2019
Received
35,738 shares
MPC
Mar 1, 2019
Received
$12.16M
MPC at $65.00/share
Feb 22, 2019
Sale
8,954 shares
MPC
Jan 28, 2019
Received
4,538 shares
MPLX
Jan 25, 2019
Received
$164.56K
MPLX at $31.26/share
Dec 20, 2018
Received
Rivals
Compare Gary R. Heminger with competitor CEOs and industry peers.
R. Lane Riggs
CEO of Valero Energy
2023 Compensation
Stock
$0.00
Salary
$1.43M
Bonus
$3.35M
Other
$179.80K
Total Holdings
$5.28M
Matthew Lucey
CEO of PBF Energy
2023 Compensation
Stock
$2.99M
Salary
$990.00K
Bonus
$2.83M
Other
$556.35K
Total Holdings
$10.05M
Michael C. Jennings
CEO of HF Sinclair
2023 Compensation
Stock
$8.04M
Salary
$1.20M
Bonus
$500.00K
Other
$464.54K
Total Holdings
$7.55M
William Monteleone
CEO of Par Pacific Holdings, Inc.
2015 Compensation
Stock
$150.00K
Salary
$350.00K
Bonus
$0.00
Other
$21.38K
Total Holdings
$55.32M