Lee M. Tillman is the President and CEO of Marathon Oil Corporation, where he has been leading the company since August 1, 2013. Before joining Marathon, he worked at ExxonMobil, where he handled major global engineering projects and led teams...

Lee M. Tillman is the President and CEO of Marathon Oil Corporation, where he has been leading the company since August 1, 2013. Before joining Marathon, he worked at ExxonMobil, where he handled major global engineering projects and led teams in different countries, including Norway and Indonesia. Lee studied Chemical Engineering and holds a PhD, which gives him a solid background in the technical aspects of the oil industry. In his role at Marathon, he emphasizes performance-based compensation, which aligns employee goals with the company's performance. This year, he earned a total compensation of $1.2 million in salary, but his bonus can significantly boost that based on how well the company meets its goals. In terms of stock, Lee has actively traded shares, with a peak holding value of around $31 million in 2024. This reflects both his confidence in Marathon's future and his commitment as a leader. His insider trading shows he has strategically sold shares but remains a strong shareholder. Overall, Tillman's leadership combines extensive experience, technical knowledge, and a focus on aligning interests at Marathon Oil.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Marathon Oil CEOs

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Lee M. Tillman

CEO of Marathon Oil

Education

Ph.D. in Chemical Engineering from Auburn University

Field of Expertise

Technology & Engineering - Engineering

Sector of Economy

Energy

Born

January 1, 1963 - 62 years ago

CEO of Marathon Oil for

11 years 5 months (Jan 2014 - Present)

Previous Experience

Vice President of Engineering at ExxonMobil

Rivals

Competitors/colleagues of Lee M. Tillman

Holdings

See how much did Lee M. Tillman make over time.

Lee M. Tillman’s stock holdings in Marathon Oil have seen significant fluctuations over the years, peaking at a remarkable $31 million in value as of 2024. His trading activity includes sizable sales, with share values reaching around $30.90 million in...

Lee M. Tillman’s stock holdings in Marathon Oil have seen significant fluctuations over the years, peaking at a remarkable $31 million in value as of 2024. His trading activity includes sizable sales, with share values reaching around $30.90 million in October 2023 and consistently fluctuating between $4.92 million and $34.16 million during his tenure. These numbers indicate a savvy approach to managing his investments while remaining committed to the company’s direction. His holdings reflect a strong belief in Marathon Oil’s potential, especially considering his substantial investments at critical valuation points. Overall, Lee has demonstrated strategic timing in both buying and selling, showcasing a hands-on approach as a leader that speaks volumes about his confidence in the company’s long-term performance.

Total Stock Sold

$57.93M

MRO

$57.93M

2,581,077 MRO shares

What if they kept their stock?

If Lee M. Tillman didn't sell their stock, today they would have:
Extra MRO2,581,077 shares worth $18.89M.
This is -67.39% and $39.04M less than what they got when they sold the stock.

Charitable Transactions

MRO

183,894 shares

MRO

Recent Charitable Transactions

MRO

103,016 shares

MRO

Mar 1, 2024

Charity

MRO

40,478 shares

MRO

Aug 28, 2023

Charity

MRO

40,400 shares

MRO

Nov 4, 2022

Charity

Insider Trading

See recent insider trades of Lee M. Tillman.

MRO

$2.17M

MRO at $26.94/share

Mar 19, 2024

Sale

MRO

138,211 shares

MRO

Mar 1, 2024

Received

MRO

103,016 shares

MRO

Mar 1, 2024

Charity

MRO

267,856 shares

MRO

Jan 31, 2024

Received

MRO

$4.37M

MRO at $27.36/share

Sep 15, 2023

Sale

MRO

40,478 shares

MRO

Aug 28, 2023

Charity

MRO

124,079 shares

MRO

Mar 1, 2023

Received

MRO

549,187 shares

MRO

Jan 25, 2023

Received

MRO

$974.69K

MRO at $32.49/share

Nov 11, 2022

Sale

MRO

$976.74K

MRO at $32.56/share

Nov 8, 2022

Sale

Compensation History

See how much did Lee M. Tillman make over time.

Lee M. Tillman’s compensation at Marathon Oil for 2023 was structured around a combination of a $1.2 million base salary and performance-related bonuses that can be substantial. This year, he received an annual cash bonus of $1.98 million, showing how well the company performed against its safety, environmental, and operational goals. Notably, Tillman's compensation strategy emphasizes performance-based pay, aligning his incentives with the company's success. He has historically earned bonuses that can reach several million dollars based on his and the company’s achievement of specific metrics, highlighting a pay model designed to drive performance. This method not only motivates him but also signifies a commitment to maintaining high standards at Marathon Oil.

Year

2023

Total Compensation

$3.56M

Salary

$1.20M

Board Justification

The compensation philosophy emphasizes performance-based pay, aligning executive interests with stockholder value through a significant portion of at-risk compensation tied to company performance metrics.

Bonus

$1.98M

Board Justification

The annual cash bonus is based on the Company’s achievement of short-term safety, environmental, financial and operational goals, with a performance factor of 110% applied to the target bonus opportunity.

Other

$384.19K

Board Justification

Other compensation includes perquisites such as tax and financial planning services, company physicals, and contributions to defined contribution plans.

Restricted Stock

$0.00(0 N/A)

Board Justification

No stock grants vested in 2023 as the focus is on performance-based compensation.

Performance Metrics

Performance metrics include safety (TRIR), GHG emissions intensity, enterprise breakeven, reinvestment rate, and cash flow per debt adjusted share.

Other Marathon Oil CEOs

Here are other CEOs of Marathon Oil

Clarence P. Cazalot Jr.

Ex-CEO of Marathon Oil

March 2002 - December 2013