Marathon chief earned $24M in 2023

FINDLAY — Marathon Petroleum Corp.'s chief executive officer, Michael Hennigan, earned $24 million in compensation in 2023, or nearly 13% more than in 2022, the company reported to the Securities and Exchange Commission. Hennigan's salary last year was $1.7 million. He earned a performance-based bonus of $4.7 million. His stock awards were $16.2 million. The value of Hennigan's pension and nonqualified compensation earnings grew by $741,763. Hennigan's other compensation, of $685,356, included $428,864 in company contributions to his retirement plan; $226,951 in personal use of company aircraft; $15,000 in tax and financial planning; $4,893 in security; and $4,503 for physicals. Maryann Mannen, chief financial officer, earned total 2023 compensation of $8.7 million, or over 12% more than in 2022. Her salary from Marathon Petroleum was $987,808. She earned a performance-based bonus of $1.8 million. Mannen's stock awards in 2023 were $5.4 million. The value of Mannen's pension and nonqualified compensation earnings grew by $258,509. Her other compensation last year, of $210,861, included $187,310 in company contributions to Mannen's retirement plan; $15,000 in tax and financial planning; and $4,503 in physicals. Timothy Aydt, executive vice president of refining, earned total compensation of $5.3 million from Marathon Petroleum last year. His salary was $834,027. Aydt earned a performance-based bonus of $1.4 million. His stock awards in 2023 totaled $2.9 million. Aydt's other compensation, of $162,910, included $139,814 in company contributions to his retirement plan; $15,000 in tax and financial planning; and $4,503 in physicals. Suzanne Gagle, general counsel and senior vice president of government affairs, earned total compensation in 2023 of $5.1 million. Her salary was $745,123. She earned a performance-based bonus of $974,300. Gagle's stock awards totaled $2.9 million. The value of her pension and nonqualified compensation earnings grew by $325,976. Gagle's other compensation, of $141,589, included $118,244 in company contributions to her retirement plan; $15,000 in tax and financial planning; and $4,503 in company physicals. Gregory Floerke, chief operating officer of Marathon's energy and logistics subsidiary, MPLX, earned total compensation last year of $3.2 million. His salary was $612,685. He earned a performance-based bonus of $704,700. Floerke's stock awards in 2023 totaled $1.6 million. The value of his pension and nonqualified compensation earnings grew by $186,873. Floerke's other compensation, of $109,762, included $89,620 in company contributions to his retirement plan; $15,000 in tax and financial planning; and $4,503 in company physicals.