MPLX amends 8-K to disclose CEO Mannen compensation: base $1.4M, LTI $12M

MPLX LP

Effective Aug 1, Maryann T. Mannen's base salary as CEO raised to $1,400,000; target bonus 165% of salary.
Mannen received one-time LTI award of $2,917,000; annualized LTI target award value $12,000,000.
Michael J. Hennigan, now Executive Chairman, base salary reduced to $1,050,000; no 2024 LTI change.
Hennigan's LTI target award value expected to reduce to $8,880,000 for 2025.
Compensation changes approved by MPC board on July 31, 2024; MPLX contracts with MPC for personnel.

item 5.02

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Michael J. Hennigan

Executive Chairman

MPLX · MPLX LP

Effective: 2024-08-01
Filed: August 6, 2024, 7:59 PM ET

the board of directors of MPC approved the compensation changes below in connection with the appointment of Ms. Mannen to Chief Executive Officer of MPC and the transition of Mr. Hennigan to Executive Chairman of the board of directors of MPC.

Appointed

Maryann T. Mannen

Chief Executive Officer

MPLX · MPLX LP

Effective: 2024-08-01
Successor: Michael J. Hennigan
Filed: August 6, 2024, 7:59 PM ET

the board of directors of MPC approved the compensation changes below in connection with the appointment of Ms. Mannen to Chief Executive Officer of MPC and the transition of Mr. Hennigan to Executive Chairman of the board of directors of MPC.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Michael J. Hennigan changed role as Executive Chairman at MPLX LP.

Action: transitioned
Role: Executive Chairman

Exact text from the filing

the board of directors of MPC approved the compensation changes below in connection with the appointment of Ms. Mannen to Chief Executive Officer of MPC and the transition of Mr. Hennigan to Executive Chairman of the board of directors of MPC.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Maryann T. Mannen was appointed as Chief Executive Officer at MPLX LP.

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

the board of directors of MPC approved the compensation changes below in connection with the appointment of Ms. Mannen to Chief Executive Officer of MPC and the transition of Mr. Hennigan to Executive Chairman of the board of directors of MPC.

View on SEC.gov

MPLX LP filing history →

Source: SEC EDGAR

accession 0001552000-24-000027

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