In 2023, Michael J. Hennigan earned $45.49M in total compensation at Marathon Petroleum, including $1.75M salary, $4.69M bonus and $38.36M in stock. Most recently acquired 23,290 shares in Mar 2025. Currently holds stock worth $63.22M. Led Marathon Petroleum as CEO for 4 years.
Compensation History
Annual executive compensation data for Michael J. Hennigan, including salary, bonuses, and stock awards.
Year
2023
Total Compensation
$45.49M
Salary
$1.75M
Bonus
$4.69M
Other
$685.36K
Salary
$1.75MBoard Justification
The compensation philosophy for the CEO at Marathon Petroleum Corporation is designed to align executive compensation with the company's performance and shareholder interests. The compensation structure includes a mix of fixed and variable components, with a significant portion being performance-based to incentivize long-term value creation.
Bonus
$4.69MBoard Justification
The bonus for Michael J. Hennigan was determined based on the 2023 Annual Cash Bonus (ACB) program. The ACB program emphasized pre-established financial and ESG performance measures. The final award was calculated as 162.38% of the target bonus, which was set at 165% of his eligible earnings.
Other Compensation
$685.36KBoard Justification
Other compensation includes personal use of corporate aircraft, company contributions to defined contribution plans, and other perquisites such as tax and financial planning services.
Restricted Stock
Board Justification
The vested stock for Michael J. Hennigan in 2023 includes the Performance Share Units (PSUs) from the 2021 grant. These PSUs vested based on the company's performance over a three-year period, with a payout percentage of 183.33% of the target due to the company's strong performance relative to peers.
Performance Metrics
The performance metrics for determining the CEO's compensation in 2023 included financial measures such as Adjusted EBITDA, relative Adjusted EBITDA per barrel, and Distributable Cash Flow at MPLX per unit, as well as ESG metrics like greenhouse gas intensity and diversity, equity, and inclusion goals.
Michael J. Hennigan
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
November 1, 1959 - 66 years ago
CEO of Marathon Petroleum for
4 years 4 months (Mar 2020 - Aug 2024)
Previous Experience
President and Chief Executive Officer of MPLX; President, Crude, NGL and Refined Products of Energy Transfer Partners L.P.
Holdings
Track Michael J. Hennigan's stock holdings and portfolio value over time.
Total Stock Sold
$33.66M
$33.66M
280,149 MPC shares
What if they kept their stock?
If Michael J. Hennigan didn't sell their stock, today they would have:
Extra MPC280,149 shares worth $53.27M.
This is 58.26% and $19.61M more than what they got when they sold the stock.
Insider Trading
Michael J. Hennigan's recent stock transactions, purchases, and sales filed with the SEC.
23,290 shares
MPC
Mar 1, 2025
Received
76,803 shares
MPLX
Mar 1, 2024
Received
17,540 shares
MPC
Mar 1, 2024
Received
77,345 shares
MPLX
Mar 1, 2023
Received
21,601 shares
MPC
Mar 1, 2023
Received
3,118 shares
MPC
Jan 26, 2023
Received
3,843 shares
MPLX
Jan 25, 2023
Received
$33.80M
MPC at $120.65/share
Nov 14, 2022
Sale
74,924 shares
MPLX
Mar 1, 2022
Received
31,630 shares
MPC
Mar 1, 2022
Received
Rivals
Compare Michael J. Hennigan 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