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Marathon Petroleum
Marathon Petroleum (MPC) investor relations material
Marathon Petroleum Proxy Filing summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Proxy Filing summary6 Mar, 2026
Executive summary
Annual meeting scheduled for April 29, 2026, with voting on director elections, auditor ratification, executive compensation, and amendments to the Certificate of Incorporation to declassify the board and eliminate supermajority provisions.
2025 performance highlights include $4.0B net income, $12.0B adjusted EBITDA, $8.3B net cash from operations, and $4.5B capital return to shareholders.
Six refineries received ENERGY STAR® certification; recognized for safety and inclusion initiatives.
Voting matters and shareholder proposals
Shareholders will vote on electing four Class III directors, ratifying PwC as independent auditor, approving executive compensation (say-on-pay), declassifying the board, and eliminating supermajority voting provisions.
Board recommends voting FOR all proposals.
Proposals to declassify the board and eliminate supermajority provisions require 80% approval.
Board of directors and corporate governance
Board consists of 11 directors, 10 of whom are independent; average tenure is 6.8 years, with 55% total diversity.
Board committees: Audit, Compensation and Organization Development, Corporate Governance and Nominating, Sustainability and Public Policy.
Board leadership transitioned to combined Chairman/CEO role in 2026, with an independent Lead Director.
Annual board, committee, and individual director evaluations; robust director orientation and ongoing education.
Shareholder engagement program reached holders of 72% of outstanding shares.
Impact of supermajority rules on charter reform
Rationale for the new FCF per share PSU metric
2035 manufacturing GHG intensity reduction target
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Next Marathon Petroleum earnings date
Q1 20265 May, 2026
Marathon Petroleum
Next Marathon Petroleum earnings date
Q1 20265 May, 2026
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Frequently asked questions
Marathon Petroleum Corporation, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Petroleum and Refining. The Petroleum segment operates retail and wholesale businesses, including Marathon brand products, convenience stores and gasoline stations; crude oil gathering and marketing activities; and wholesale transportation activities. The Refining segment includes crude oil, intermediates, and refined products operations; and terminals activities. The company was founded in 1887 and is headquartered in Findlay, Ohio.
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