Sundar PichaiSundar Pichai earned $164M in 2023

Greg C. Garland is the CEO of Phillips 66, where he has been leading since 2012. He has an impressive background in the energy sector with over 35 years of experience, having previously served as the President and CEO of...

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Greg C. Garland

Ex-CEO of Phillips 66

Education

Not specified

Field of Expertise

Technology & Engineering - Engineering

Sector of Economy

Energy

Born

January 1, 1960 - 65 years ago

CEO of Phillips 66 for

12 years 0 months (Apr 2012 - May 2024)

Previous Experience

Senior Vice President, Exploration and Production – Americas for ConocoPhillips; President and CEO of Chevron Phillips Chemical Company

Holdings

See how much did Greg C. Garland make over time.

Greg C. Garland's holdings are significant, reflecting his strong stake in Phillips 66. In 2023, his vested stock awards totaled about $25 million, adding substantial value to his overall wealth. Over time, he has consistently maintained a large amount of...

Total Stock Sold

$83.79M

PSX

$83.79M

890,117 PSX shares

What if they kept their stock?

If Greg C. Garland didn't sell their stock, today they would have:
Extra PSX890,117 shares worth $56.70M.
This is -32.33% and $27.09M less than what they got when they sold the stock.

Insider Trading

See recent insider trades of Greg C. Garland.

AMGN

719 shares

AMGN

May 31, 2024

Received

PSX

$1.13M

PSX at $147.69/share

Feb 6, 2024

Received

PSX

$18.88M

PSX at $111.44/share

Aug 7, 2023

Sale

AMGN

939 shares

AMGN

May 19, 2023

Received

PSX

18,669 shares

PSX

Feb 7, 2023

Received

PSX

$16.09M

PSX at $109.70/share

Jun 9, 2022

Sale

AMGN

855 shares

AMGN

May 17, 2022

Received

PSX

17,500 shares

PSX

Mar 9, 2022

Received

PSX

28,074 shares

PSX

Feb 8, 2022

Received

PSX

$11.17M

PSX at $88.47/share

Feb 7, 2022

Sale

Compensation History

See how much did Greg C. Garland make over time.

Greg C. Garland's total compensation package for 2023 reached around $25 million, structured mostly around performance. This includes a $1 million salary, over $2.5 million in bonuses, and around $25 million from vested stock awards. His pay is designed to reflect the company's performance metrics, ensuring he earns more when the company does well. This alignment between executive pay and company results demonstrates a focus on long-term shareholder value. In previous years, his compensation has followed a similar pattern, reflecting his role in driving the company toward its financial and operational goals. The compensation plan emphasizes strong performance, with a significant portion at risk based on company success. So, in short, Greg’s earnings are directly tied to how well Phillips 66 performs on key metrics, showcasing a model aimed at creating value for investors while rewarding effective leadership.

Year

2023

Total Compensation

$29.37M

Salary

$1.00M

Board Justification

The compensation philosophy emphasizes performance-based pay that aligns with company performance and shareholder interests, with a significant portion of compensation at risk.

Bonus

$2.58M

Board Justification

The bonus is based on the Variable Cash Incentive Program (VCIP) which had a payout of 161% of target due to strong performance metrics in 2023.

Other

$731.05K

Board Justification

Other compensation includes contributions to retirement plans, life insurance premiums, and other benefits.

Restricted Stock

$25.06M(200.91K RSU)

Board Justification

The stock awards that vested in 2023 include Restricted Stock Units (RSUs) and Performance Share Units (PSUs) that were granted in prior years and vested based on performance metrics achieved during the performance period.

Performance Metrics

The performance metrics include Adjusted VCIP EBITDA, Adjusted VCIP Controllable Costs, and safety and operational excellence metrics.

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