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Form 8-K · Current Report · Filed 2024-04-26

Marathon Petroleum Corporation Announces Shareholder Approvals and Governance Amendments

Marathon Petroleum Corporation announced at its 2024 Annual Meeting that shareholders approved an amendment to the Company's Restated Certificate of Incorporation to provide for officer exculpation and elected new Class I directors.

Filer
Marathon Petroleum Corp. MPC · NYSE
Filed
Accession
0001510295-24-000041
CIK
0001510295
Signal
Medium impactEnergy

Details

Additionally, shareholders ratified the appointment of PricewaterhouseCoopers LLP as the Company's independent auditor for 2024 and approved, on an advisory basis, the compensation of the Company's named executive officers. The Company will hold an annual say-on-pay vote following the recommendation of shareholders.

Items reported

Item 5.03

Amendments to Articles of Incorporation or Bylaws

Articles of Incorporation Amendment
Item 5.07

Submission of Matters to a Vote of Security Holders

Director Elections Results Say-on-Pay Approved
Item 9.01

Financial Statements and Exhibits

Exhibits Furnished

Market reaction

Close before filing

$199.51

Next session

+0.5%

Since filing

+58.6%

Latest close

$316.47

What happened, not what will happen — closing prices around the filing date.

Precedent

Previous filings from MPC reporting the same item, with the next session's move:

Exhibits (2)

About Marathon Petroleum Corp.

Marathon Petroleum Corp. is a leading integrated downstream energy company within the United States. Its primary function is to refine crude oil and distribute petroleum products, playing a pivotal role in the energy sector. Marathon Petroleum operates one of the largest refining systems in the nation, with refineries strategically located across the country, providing widespread access to key markets. The company is known for producing a variety of petroleum products, including gasoline, diesel, aviation fuels, and petrochemicals, which are essential to various sectors such as transportation, industrial, and residential markets. Marathon Petrol's comprehensive logistics network, including pipelines, terminals, and marine fleets, supports its extensive distribution capabilities. Moreover, its retail operations through the Speedway brand further enhance its market presence. Marathon Petroleum Corp. is significant in the energy market, contributing to the stability and efficiency of fuel supply and consumption patterns, thus impacting both local and national economic landscapes.

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