Marathon Petroleum Corp — fact timeline

Marathon Petroleum Corp reported first quarter of 2026 results: net income $511 million, EPS $1.73 per diluted share.

“expressly stated in such a filing. --- EX-99.1 (EX-99.1) --- Marathon Petroleum Corp. Reports First-Quarter 2026 Results • First-quarter net income attributable to MPC of $511 million, or $1.73 per diluted share, adjusted net income of $487 million, or $1.65 per diluted share • Cash from operations of $1.1 billion, reflecting safe and reliable performance”

Marathon Petroleum Corp reported preliminary financial results for the quarter ended March 31, 2026.

“Item 2.02 Results of Operations and Financial Condition. The information set forth in Item 1.01 of this Current Report on Form 8-K with respect to MPC’s preliminary estimate of its cash and cash equivalents as of March 31, 2026, is incorporated herein by reference. Such information is unaudited and preliminary and does not present all information necessary for an understanding of the MPC’s results of operations for the quarter ended March 31, 2026.”

Marathon Petroleum Corp incurred revolving credit of $5.0 billion with MPC, as borrower; JPMorgan Chase Bank, N.A., as administrative agent; Wells Fargo Securities, LLC, Barclays Bank PLC, BofA Securities, Inc., Citibank, N.A., Goldman Sachs Bank USA, Mizuho Bank, Ltd., MUFG Bank, Ltd., RBC Capital Markets, Sumitomo Mitsui Banking Corporation and TD Securities (USA) LL at at MPC's election, (i) Term SOFR plus applicable margin (depending on credit rat maturing April 7, 2031.

“On April 7, 2026, Marathon Petroleum Corporation, a Delaware corporation (“MPC”), entered into a $5.0 billion, five-year Revolving Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent, each of JPMorgan Chase Bank, N.A., Wells Fargo Securities, LLC, Barclays Bank PLC, BofA Securities, Inc., Citibank, N.A., Goldman Sachs Bank USA, Mizuho Bank, Ltd., MUFG Bank, Ltd., RBC Capital Markets, Sumitomo Mitsui Banking Corporation and TD Securities (USA) LLC, as joint lead arrangers and joint bookrunners, Wells Fargo Bank, National Association, as syndication agent, each of Bank of America, N.A., Barclays Bank PLC, Citibank, N.A., Goldman Sachs Bank USA, Mizuho Bank, Ltd., MUFG Bank, Ltd., Royal Bank of Canada, Sumitomo Mitsui Banking Corporation and The Toronto-Dominion Bank, New York Branch, as documentation agents, and the other lenders and issuing banks that are parties thereto (the “New MPC Credit Agreement”).”

Marathon Petroleum Corp terminated 2022 MPLX Credit Agreement (effective 2026-04-07).

“The New MPLX Credit Agreement replaces the previously effective 2022 MPLX Credit Agreement (as defined below) and is intended to be used for general partnership purposes.”

Marathon Petroleum Corp entered into New MPLX Credit Agreement with Wells Fargo Bank, National Association, as administrative agent, each of Wells Fargo Securities, LLC, JPMorgan Chase Bank, N.A., Barclays Bank PLC, BofA Securities, Inc., Citibank, N.A., Goldman Sachs Bank USA, Mizuho Bank, Ltd., MUFG Bank, Ltd., RBC Capital Markets, Sumitomo Mitsui Banking Corporat valued at $2.5 billion (effective 2026-04-07).

“MPLX Credit Agreement On April 7, 2026, MPLX LP, a Delaware master limited partnership sponsored by MPC (“MPLX”), entered into a $2.5 billion, five- year Revolving Credit Agreement with Wells Fargo Bank, National Association, as administrative agent, each of Wells Fargo Securities, LLC, JPMorgan Chase Bank, N.A., Barclays Bank PLC, BofA Securities, Inc., Citibank, N.A., Goldman Sachs Bank USA, Mizuho Bank, Ltd., MUFG Bank, Ltd., RBC Capital Markets, Sumitomo Mitsui Banking Corporation and TD Securities (USA) LLC, as joint lead arrangers and joint bookrunners, JPMorgan Chase Bank, N.A., as syndication agent, each of Bank of America, N.A., Barclays Bank PLC, Citibank, N.A., Goldman Sachs Bank USA, Mizuho Bank, Ltd., MUFG Bank, Ltd., Royal Bank of Canada, Sumitomo Mitsui Banking Corporation and The Toronto-Dominion Bank, New York Branch, as documentation agents, and the other lenders and issuing banks that are parties thereto (the “New MPLX Credit Agreement”).”

Marathon Petroleum Corp terminated 2022 MPC Credit Agreement (effective 2026-04-07).

“The New MPC Credit Agreement replaces the previously effective 2022 MPC Credit Agreement (as defined below) and is intended to be used for general corporate purposes.”

Marathon Petroleum Corp entered into New MPC Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent, each of JPMorgan Chase Bank, N.A., Wells Fargo Securities, LLC, Barclays Bank PLC, BofA Securities, Inc., Citibank, N.A., Goldman Sachs Bank USA, Mizuho Bank, Ltd., MUFG Bank, Ltd., RBC Capital Markets, Sumitomo Mitsui Banking Corporation and TD Se valued at $5.0 billion (effective 2026-04-07).

“MPC Credit Agreement On April 7, 2026, Marathon Petroleum Corporation, a Delaware corporation (“MPC”), entered into a $5.0 billion, five-year Revolving Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent, each of JPMorgan Chase Bank, N.A., Wells Fargo Securities, LLC, Barclays Bank PLC, BofA Securities, Inc., Citibank, N.A., Goldman Sachs Bank USA, Mizuho Bank, Ltd., MUFG Bank, Ltd., RBC Capital Markets, Sumitomo Mitsui Banking Corporation and TD Securities (USA) LLC, as joint lead arrangers and joint bookrunners, Wells Fargo Bank, National Association, as syndication agent, each of Bank of America, N.A., Barclays Bank PLC, Citibank, N.A., Goldman Sachs Bank USA, Mizuho Bank, Ltd., MUFG Bank, Ltd., Royal Bank of Canada, Sumitomo Mitsui Banking Corporation and The Toronto-Dominion Bank, New York Branch, as documentation agents, and the other lenders and issuing banks that are parties thereto (the “New MPC Credit Agreement”).”

Mike Henschen was appointed as Executive Vice President, Refining at Marathon Petroleum Corp.

“The Company has announced that Mike Henschen will succeed Mr. Aydt as Executive Vice President, Refining, effective June 1, 2025.”

Timothy J. Aydt departed as Executive Vice President, Refining at Marathon Petroleum Corp.

“Timothy J. Aydt, Executive Vice President, Refining, of Marathon Petroleum Corporation (the “Company”), notified the Company of his intention to retire from the Company, following over 40 years of service, effective September 2, 2025.”

Susan Tomasky departed as Director at Marathon Petroleum Corp.

“On January 20, 2025, Susan Tomasky notified the Board of Directors (the "Board") of Marathon Petroleum Corporation (the “Company”) of her decision to retire from the Board effective upon the conclusion of the Company's 2025 annual meeting of shareholders, to be held April 30, 2025.”

Jeffrey C. Campbell was elected as director at Marathon Petroleum Corp.

“On October 30, 2024, the Board of Directors (the “Board”) of Marathon Petroleum Corporation (the “Company”) increased the size of the Board to fifteen members and elected Jeffrey C. Campbell as a director of the Company, with such increase in the size of the Board and election effective as of November 11, 2024.”

John P. Surma was elected as Lead Director at Marathon Petroleum Corp.

“current Chairman of the Board John P. Surma has been elected Lead Director.”

Maryann T. Mannen was appointed as President and Chief Executive Officer of MPLX at Marathon Petroleum Corp.

“effective August 1, 2024, has been appointed as the President and Chief Executive Officer of MPLX.”

Maryann T. Mannen was elected as Director at Marathon Petroleum Corp.

“the Board increased the size of the Board to fourteen members and elected Ms. Mannen as a director of the Company, with such increase and election effective August 1, 2024.”

Maryann T. Mannen was appointed as Chief Executive Officer at Marathon Petroleum Corp.

“On May 11, 2024, the board of directors (the “Board”) of Marathon Petroleum Corporation (the “Company”) appointed Maryann T. Mannen as Chief Executive Officer of the Company, effective August 1, 2024.”

Marathon Petroleum Corp reported first quarter of 2024 results: net income $937 million, EPS $2.58 per diluted share.

“Marathon Petroleum Corp. (NYSE: MPC) today reported net income attributable to MPC of $937 million, or $2.58 per diluted share, for the first quarter of 2024.”

Marathon Petroleum Corp: Amendment to provide for officer exculpation limiting personal liability for breaches of fiduciary duty of care, as permitted by DGCL (effective 2024-04-24).

“the amendment limits the personal liability of certain officers for monetary damages associated with breaches of the fiduciary duty of care (but not the fiduciary duty of loyalty) in limited circumstances.”

Marathon Petroleum Corp shareholders rejected Shareholder Proposal Seeking a Simple Majority Vote at the 2024-04-24 meeting.

“The shareholder proposal seeking a simple majority vote was not approved based on the following votes:”

Marathon Petroleum Corp shareholders rejected Approval of an Amendment to the Company's Restated Certificate of Incorporation to Eliminate Supermajority Provisions at the 2024-04-24 meeting.

“The proposal to approve an amendment to the Company’s Restated Certificate of Incorporation to eliminate supermajority provisions did not receive the required affirmative vote of at least 80% of the Company’s outstanding shares entitled to vote:”

Marathon Petroleum Corp shareholders rejected Approval of an Amendment to the Company's Restated Certificate of Incorporation to Declassify the Board of Directors at the 2024-04-24 meeting.

“The proposal to approve an amendment to the Company’s Restated Certificate of Incorporation to declassify the Board of Directors did not receive the required affirmative vote of at least 80% of the Company’s outstanding shares entitled to vote:”

Marathon Petroleum Corp shareholders approved Approval of an Amendment to the Company's Restated Certificate of Incorporation to Provide for Officer Exculpation at the 2024-04-24 meeting.

“The proposal to approve an amendment to the Company’s Restated Certificate of Incorporation to provide for officer exculpation received the required affirmative vote of at least a majority of the Company’s outstanding shares entitled to vote:”

Marathon Petroleum Corp shareholders approved Recommendation, on an advisory basis, on the frequency of future advisory votes to approve named executive officer compensation at the 2024-04-24 meeting.

“The shareholders recommended, on an advisory basis, that future advisory votes to approve named executive officer compensation ("say-on-pay") be held every one year by the following votes:”

Marathon Petroleum Corp shareholders approved Approval, on an advisory basis, of the Company's Named Executive Officer Compensation at the 2024-04-24 meeting.

“The shareholders approved, on an advisory basis, the compensation of the Company’s named executive officers by the following votes:”

Marathon Petroleum Corp shareholders approved Ratification of Appointment of Independent Auditor for 2024 at the 2024-04-24 meeting.

“The shareholders ratified the appointment of PricewaterhouseCoopers LLP as the Company’s independent auditor for the year ending December 31, 2024, by the following votes:”

Marathon Petroleum Corp shareholders approved Election of Class I Directors at the 2024-04-24 meeting.

“The shareholders elected each of Abdulaziz F. Alkhayyal, Jonathan Z. Cohen, Michael J. Hennigan and Frank M. Semple as Class I directors”

Kimberly N. Ellison-Taylor was elected as Director at Marathon Petroleum Corp.

“On January 26, 2024, the Board of Directors (the “Board”) of Marathon Petroleum Corporation (the “Company”) increased the size of the Board to thirteen members and elected Ms. Eileen P. Drake and Ms. Kimberly N. Ellison-Taylor as directors of the Company, with such increase in the size of the Board and elections effective as of March 1, 2024.”

Eileen P. Drake was elected as Director at Marathon Petroleum Corp.

“On January 26, 2024, the Board of Directors (the “Board”) of Marathon Petroleum Corporation (the “Company”) increased the size of the Board to thirteen members and elected Ms. Eileen P. Drake and Ms. Kimberly N. Ellison-Taylor as directors of the Company, with such increase in the size of the Board and elections effective as of March 1, 2024.”

Marathon Petroleum Corp reported full year 2023 results: net income $9.7 billion, EPS $23.63 per diluted share.

“For the full year 2023, net income attributable to MPC was $9.7 billion, or $23.63 per diluted share, compared with net income attributable to MPC of $14.5 billion, or $28.12 per diluted share for the full year 2022.”

Marathon Petroleum Corp reported fourth quarter of 2023 results: net income $1.5 billion, EPS $3.84 per diluted share.

“Marathon Petroleum Corp. (NYSE: MPC) today reported net income attributable to MPC of $1.5 billion, or $3.84 per diluted share, for the fourth quarter of 2023.”

Marathon Petroleum Corp reported the quarter and year ended December 31, 2023 results: net income $1.5 billion, EPS $3.84 per diluted share. Guidance initiated.

“On January 30, 2024, Marathon Petroleum Corporation issued a press release announcing its financial results for the quarter and year ended December 31, 2023.”

C. Kristopher Hagedorn departed as Senior Vice President and Controller at Marathon Petroleum Corp.

“Ms. Brzezinski is succeeding C. Kristopher Hagedorn, who ceased to serve as Senior Vice President and Controller of the Company effective January 8, 2024.”

Erin M. Brzezinski was appointed as Vice President and Controller at Marathon Petroleum Corp.

“Effective January 8, 2024, Marathon Petroleum Corporation (the "Company") appointed Erin M. Brzezinski as Vice President and Controller.”

John J. Quaid was appointed as Executive Vice President and Chief Financial Officer at Marathon Petroleum Corp.

“On December 21, 2023, the Company announced the appointment of John J. Quaid to serve as its Executive Vice President and Chief Financial Officer, effective January 1, 2024.”

Michael J. Hennigan changed role as President at Marathon Petroleum Corp.

“Michael J. Hennigan, who will cease to serve as President of the Company effective January 1, 2024.”

Maryann T. Mannen was appointed as President at Marathon Petroleum Corp.

“On December 21, 2023, Marathon Petroleum Corporation (the “Company”) announced the appointment of Maryann T. Mannen to serve as President, effective January 1, 2024.”