secwatch.observer — SEC 8-K summary
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Issuer:     Marathon Petroleum Corp (MPC)
CIK:        0001510295
Form:       8-K
Filed at:   2024-04-26T23:59:59+00:00
Accession:  0001510295-24-000041
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.03, 5.07, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MPC shareholders approve officer exculpation, reject board declassification and supermajority removal
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- Shareholders approved amendment to Restated Certificate of Incorporation to limit officer liability for breaches of fiduciary duty of care under DGCL.
- Proposals to declassify the Board of Directors and eliminate supermajority provisions failed, each requiring 80% affirmative vote but receiving less than 80%.
- Class I directors (Alkhayyal, Cohen, Hennigan, Semple) elected; say-on-pay approved on advisory basis with future votes every one year.
- Ratification of PricewaterhouseCoopers as independent auditor for 2024 passed with overwhelming support.
- Shareholder proposal for simple majority vote on all matters was not approved.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1510295/000151029524000041/0001510295-24-000041-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1510295/000151029524000041/mpc-20240424.htm
  HTML page:      https://secwatch.observer/filing/0001510295-24-000041

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