V
Velarion™Intelligence
Sign InFree TrialBook a Walkthrough

Marathon Oil Executive Compensation (FY23)

MRO · Executive and director compensation, fiscal 2022 to 2023

The Marathon Oil brief, $1,500

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
Both reports for $2,400.
Data as of September 11, 2026Latest filing (8-K): May 23, 2024
10 filings cited on this page
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
Marathon Oil brief$1,500Get the executive brief
246 figures on this page: 237 cited to the filing that reported them, 9 calculated from figures it prints. See the citations
Chief executive, fiscal 2023
◇
Lee Tillman
Latest say-on-pay support
=
May 22, 2024
Chief executive pay ratio
◇
To the median employee
What changed from fiscal 2022 to fiscal 2023
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Lee Tillman: $11,931,683 → $12,830,222 (7.5% higher)
Say-on-pay support: 94.6% → 93.6% (1.0 points lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is Marathon Oil's chief executive and what were they paid?
Lee Tillman, Chairman, President and Chief Executive Officer, received $12,830,222 in total compensation for fiscal 2023. Tillman's total moved 7.5% higher from the $11,931,683 reported for fiscal 2022.
What was Marathon Oil's say-on-pay result?
The say-on-pay proposal drew 93.6% of votes cast for or against in favor at the meeting held May 22, 2024 for fiscal 2023.
Which companies are in Marathon Oil's peer group?
The disclosed peer group includes APA Corporation, Chesapeake Energy Corporation, Continental Resources, Inc., Coterra Energy Inc. and Devon Energy Corporation, among others. The 2023 Compensation Peer Group includes APA Corporation, Chesapeake Energy Corporation, Continental Resources, Inc., Coterra Energy Inc. and Devon Energy Corporation, among others.
What is Marathon Oil's chief executive pay ratio?
The company reported a chief executive pay ratio of 101:1 for fiscal 2023.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Lee Tillman
Chairman, President and Chief Executive Officer
◇—◇—◇◇◇◇
Dane Whitehead
Executive Vice President and Chief Financial Officer
◇—◇—◇◇◇◇
Patrick Wagner
Executive Vice President, Corporate Development and Strategy
◇—◇—◇◇◇◇
Michael Henderson
Executive Vice President, Operations
◇—◇—◇◇◇◇
Kimberly Warnica
Executive Vice President, General Counsel and Secretary
◇—◇—◇◇◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Lee Tillman
Chairman, President and Chief Executive Officer
◇—◇—◇◇◇◇
Dane Whitehead
Executive Vice President and Chief Financial Officer
◇—◇—◇◇◇◇
Patrick Wagner
Executive Vice President, Corporate Development and Strategy
◇—◇—◇◇◇◇
Michael Henderson
Executive Vice President, Operations
◇—◇—◇◇◇◇
Kimberly Warnica
Executive Vice President, General Counsel and Secretary
◇—◇—◇◇◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2023
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Dane E. WhiteheadPSU—◇◇—◇—◇
Dane E. WhiteheadRSU———◇——◇
Dane E. WhiteheadPSU—◇◇—◇—◇
Kimberly O. WarnicaPSU—◇◇—◇—◇
Kimberly O. WarnicaRSU———◇——◇
Kimberly O. WarnicaPSU—◇◇—◇—◇
Lee M. TillmanPSU—◇◇—◇—◇
Lee M. TillmanRSU———◇——◇
Lee M. TillmanPSU—◇◇—◇—◇
Michael A. HendersonPSU—◇◇—◇—◇
Michael A. HendersonPSU—◇◇—◇—◇
Michael A. HendersonRSU———◇——◇
Patrick J. WagnerRSU———◇——◇
Patrick J. WagnerPSU—◇◇—◇—◇
Patrick J. WagnerPSU—◇◇—◇—◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2023 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Kimberly WarnicaRSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
Michael HendersonRSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
Patrick WagnerRSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
Dane WhiteheadRSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
Lee TillmanPSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2023
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Marcela E. Donadio
Lead independent director
◇◇———◇◇
Holli C. Ladhani
◇◇———◇◇
Mark A. McCollum
◇◇———◇◇
Brent J. Smolik
◇◇———◇◇
Chadwick C. Deaton
◇◇———◇◇
M. Elise Hyland
◇◇———◇◇
Shawn D. Williams
◇◇———◇◇
J. Kent Wells
◇◇————◇
Lee M. Tillman served on the board in fiscal 2023 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Lead independent director premium◇
Audit committee chair◇
Compensation committee chair◇
Nominating and governance chair◇
Equity is delivered as Common Stock Units.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2023
  • APA Corporation APA
  • Chesapeake Energy Corporation symbol not shown
  • Continental Resources, Inc. symbol not shown
  • Coterra Energy Inc. CTRA
  • Devon Energy Corporation DVN
  • Diamondback Energy, Inc. FANG
  • EQT Corporation EQT
  • Hess Corporation HES
  • Murphy Oil Corporation MUR
  • Ovintiv Inc. OVV
  • PDC Energy, Inc. symbol not shown
2023 Compensation Peer Group
  • APA Corporation APA
  • Chesapeake Energy Corporation symbol not shown
  • Continental Resources, Inc. symbol not shown
  • Coterra Energy Inc. CTRA
  • Devon Energy Corporation DVN
  • Diamondback Energy, Inc. FANG
  • EQT Corporation EQT
  • Hess Corporation HES
  • Murphy Oil Corporation MUR
  • Ovintiv Inc. OVV
  • PDC Energy, Inc. symbol not shown
2023 Performance Peer Group for LTI
  • EOG Resources, Inc. EOG

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2023May 22, 2024=◇◇◇
2022May 24, 2023=◇◇◇
2021May 25, 2022=◇◇◇
2020May 26, 2021=◇◇◇
2019May 27, 2020=◇◇◇
2018May 29, 2019=◇◇◇
2017May 30, 2018=◇◇◇
2016May 31, 2017=◇◇◇
2015May 25, 2016=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Chief executive total compensation
◇
Email me this page as a cited PDF
The same figures, the same citations, formatted to hand to a committee. Nothing is added that is not on this page.
Your address is used for this and nothing else. Unsubscribe in one click.
Tell me when Marathon Oil files
You get a note when this company’s compensation data changes.
Your address is used for this and nothing else. Unsubscribe in one click.

What this page does not include

Everything above is a fact Marathon Oil disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Marathon Oil sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
Inquire about access
Multiple companies at once
Cross-company views, cohort screens, and data export across the industries we cover. This page is one company; the platform is all of them.
Velarion Intelligence
Join the list for a Velarion Pro seat
Full platform access for one person: every industry we cover, peer positioning, and the written analysis. We will email you when it opens.
Your address is used for this and nothing else. Unsubscribe in one click.
Join the list for Peer Group Review
Whether Marathon Oil's disclosed peer group is defensible, who names Marathon Oil back in their own benchmarking group, and how pay tracks performance across it. This is the analysis a compensation consultant delivers on the group above. We will email you when it opens.
Your address is used for this and nothing else. Unsubscribe in one click.

Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
246 figures on this page: 237 cited to the filing that reported them, 9 calculated from figures it prints.
237 cited to the filing
9 calculated from the filing

Documents cited

  1. 0000101778-24-000106
    Item 5.07. Submission of Matters to a Vote of Security Holders.
  2. 0000101778-24-000082
    CEO PAY RATIO · DIRECTOR COMPENSATION · Grants of Plan-Based Awards in 202 · Outstanding Equity Awards at 2023 Fiscal Year-End · and 1 more section
  3. 0000101778-23-000099
    Item 5.07. Submission of Matters to a Vote of Security Holders.
  4. 0000101778-22-000127
    Item 5.07. Submission of Matters to a Vote of Security Holders.
  5. 0000101778-21-000086
    Item 5.07. Submission of Matters to a Vote of Security Holders.
  6. 0000101778-20-000086
    Item 5.07. Submission of Matters to a Vote of Security Holders.
  7. 0000101778-19-000077
    Item 5.07. Submission of Matters to a Vote of Security Holders.
  8. 0000101778-18-000103
    Item 5.07. Submission of Matters to a Vote of Security Holders.
  9. 0000101778-17-000082
    Item 5.07. Submission of Matters to a Vote of Security Holders.
  10. 0000101778-16-000069
    Item 5.07. Submission of Matters to a Vote of Security Holders.
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Marathon Oil executive compensation, FY2022–FY2023.” https://intel.velarion.ai/comp/MRO (accessed 2026).
Short form: data: Velarion

The Marathon Oil brief, $1,500

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
Both reports for $2,400.
Get the executive briefGet the board briefNo account needed.
10 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
Embed this data
A small, cited view of this data for your own page or newsletter. Every embed carries a visible link back here, so the attribution travels with it.
The headline figures, each with its citation.
Connect an AI assistant
Ask your own assistant about Marathon Oil and roughly 3,000 other US public companies, and get back the same figures on this page with the same citations. Free read access, no account. Add this to your assistant's connector settings.
Setup guide and the full list of questions it answers

Peers Marathon Oil discloses

The companies named in MRO's own disclosed peer group.

APA CorporationCoterra Energy Inc.Devon Energy CorporationDiamondback Energy, Inc.EQT CorporationHess CorporationMurphy Oil CorporationOvintiv Inc.EOG Resources, Inc.

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
For informational purposes only. Not investment, legal, or compensation advice.  All companies · The Pay Desk · Methodology · Terms · Privacy