Steve Millican - Feb 13, 2024 Form 4 Insider Report for Magnolia Oil & Gas Corp (MGY)

Role: SVP - OPERATIONS
Signature: /s/ Timothy D. Yang, Attorney-in-Fact
Stock symbol: MGY
Transactions as of: Feb 13, 2024
Transactions value $: $0
Form type: 4
Date filed: 2/15/2024, 04:21 PM
Previous filing: Mar 3, 2023
Next filing: Mar 5, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MGY	Class A Common Stock	Award	$0	+28.1K	+8.51%	$0.00	358K	Feb 13, 2024	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	MGY	Performance Share Units	Award	$0	+28.1K		$0.00	28.1K	Feb 13, 2024	Class A Common Stock	28.1K		Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Reflects restricted stock units ("RSUs") granted under the Magnolia Oil & Gas Corporation Long Term Incentive Plan, as amended from time to time (the "Plan"). Each RSU represents a contingent right to receive one share of Class A Common Stock of the Company. The RSUs will vest in three substantially equal installments on March 1, 2025, 2026, and 2027, subject to the officer's continued employment through the applicable vesting date.
F2	Reflects performance share units ("PSUs") granted under the Plan. Each PSU, to the extent earned, represents a contingent right to receive one share of Class A Common Stock of the Company, and the officer may earn between 0% and 150% of the target number of PSUs reported above, based on the Compensation Committee's certification of the relative total shareholder return of the Company measured against a peer group of companies for the performance period commencing January 1, 2024 and ending December 31, 2026, and subject to the officer's continued employment through the date of settlement of the PSUs (which will occur within 60 days following the conclusion of the performance period).

Content

Reflects restricted stock units ("RSUs") granted under the Magnolia Oil & Gas Corporation Long Term Incentive Plan, as amended from time to time (the "Plan"). Each RSU represents a contingent right to receive one share of Class A Common Stock of the Company. The RSUs will vest in three substantially equal installments on March 1, 2025, 2026, and 2027, subject to the officer's continued employment through the applicable vesting date.

Reflects performance share units ("PSUs") granted under the Plan. Each PSU, to the extent earned, represents a contingent right to receive one share of Class A Common Stock of the Company, and the officer may earn between 0% and 150% of the target number of PSUs reported above, based on the Compensation Committee's certification of the relative total shareholder return of the Company measured against a peer group of companies for the performance period commencing January 1, 2024 and ending December 31, 2026, and subject to the officer's continued employment through the date of settlement of the PSUs (which will occur within 60 days following the conclusion of the performance period).