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Marvin M. Chronister has a long history in the oil and gas industry spanning over 38 years. Starting as an independent investor and energy finance consultant since 2006, he also held significant roles at major firms like Deloitte & Touche...

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Marvin M. Chronister

Ex-CEO of Civitas Resources

Education

Not disclosed

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Energy

Born

January 1, 1976 - 49 years ago

CEO of Civitas Resources for

0 years 9 months (Jan 2014 - Nov 2014)

Previous Experience

Independent investor, energy finance and operations consultant

Holdings

See how much did Marvin M. Chronister make over time.

While Marvin Chronister's detailed insider trading history isn't disclosed here, it’s known that during his time as Interim President and CEO of Civitas Resources, his wealth was tied significantly to the company's performance through your standard compensation practices. At one...

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Insider Trading

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No insider trades found for this CEO.

Compensation History

See how much did Marvin M. Chronister make over time.

In 2014, Marvin M. Chronister's total compensation as Interim President and CEO of Civitas Resources reached about $1.5 million. His compensation structure was primarily derived from a base salary of $500,000, which reflected the interim nature of his role. He did not receive a cash bonus due to the interim status, but his compensation included a sizable amount from vested stock valued at approximately $1,080,000. The stock was granted as a recognition of his role during a transition for the company, vesting over three years, effectively tying his income to the performance of Civitas. This approach shows how companies often reward leaders in critical roles with a blend of salary and equity compensation, aligning their financial success with that of the company and its shareholders. Chronister's financial package indicates a commitment to long-term performance, even within a temporary leadership position.

Year

2014

Total Compensation

$1.58M

Salary

$500.00K

Board Justification

The compensation philosophy aims to attract and retain top executive talent, drive accountability for performance, and align executive officers with stockholders' interests through equity-based rewards.

Bonus

$0.00

Board Justification

Mr. Chronister was ineligible to receive a bonus under the STIP due to the interim nature of his employment.

Other

$0.00

Board Justification

Restricted Stock

$1.08M(26.88K Restricted Stock)

Board Justification

Restricted stock granted in recognition of Mr. Chronister's service as the Company's Interim President and Chief Executive Officer, vesting 1/3 on November 15, 2015, 1/3 on November 15, 2016, and 1/3 on November 15, 2017.

Performance Metrics

The performance metrics for Mr. Chronister's compensation were not applicable due to his interim role.

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