Item 3. Legal Proceedings
Item 3. LEGAL PROCEEDINGS
Discussion of the Company’s legal proceedings are included in Note Q beginning on page 98 .
Item 4. MINE SAFETY DISCLOSURES
Not applicable.
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Information about our Executive Officers
The present corporate office, length of service in office, and age at February 1, 2025, for each of the Company’s executive officers are reported in the following listing. Executive officers are elected annually but may be removed from office at any time by the Board.
Eric M. Hambly – Age 50; President and Chief Executive Officer since January 2025. Mr. Hambly served as President and Chief Operating Officer from February 2024 to December 2024. Mr. Hambly also served as Executive Vice President, Operations from 2020 to 2024 and Executive Vice President, Onshore from 2018 to 2020.
Thomas J. Mireles – Age 52; Executive Vice President and Chief Financial Officer since 2022. Mr. Mireles was Senior Vice President, Technical Services from 2018 to 2022. Mr. Mireles also served as the Senior Vice President, Eastern Hemisphere of Murphy Exploration & Production Company from 2016 to 2018.
E. Ted Botner – Age 60; Executive Vice President, General Counsel and Corporate Secretary since February 2024. Mr. Botner served as Senior Vice President, General Counsel and Corporate Secretary from 2020 to 2024. He also served as Vice President, Law and Corporate Secretary from 2015 to 2020 and Manager, Law and Corporate Secretary from 2013 to 2015.
Daniel R. Hanchera - Age 67; Senior Vice President, Business Development since 2022. Mr. Hanchera served as Senior Vice President, Business Development of Murphy Exploration & Production Company from 2014 to 2022. He also served as Vice President, Business Development and Planning of Murphy Exploration & Production Company from 2009 to 2014.
John B. Gardner – Age 56; Vice President, Marketing and Supply Chain since 2022. Mr. Gardner was Vice President and Treasurer from 2015 to 2022 and served as Treasurer from 2013 to 2015.
Leyster L. Jumawan - Age 48; Vice President, Corporate Planning and Treasurer since 2022. Mr. Jumawan was Assistant Treasurer from 2017 to 2022.
Maria A. Martinez – Age 50; Vice President, Human Resources and Administration since 2018. Ms. Martinez was Vice President, Human Resources of Murphy Exploration & Production Company from 2013 to 2018.
Meenambigai Palanivelu - Age 51; Vice President, Sustainability since 2023. Ms. Palanivelu was Director, Sustainability from 2020 to 2023. Ms. Palanivelu also served as the General Manager, Planning and Performance from 2019 to 2020 and General Manager, Finance Operating Model Program Management Office from 2017 to 2019.
Louis W. Utsch – Age 59; Vice President, Tax since 2018.
Paul D. Vaughan – Age 58, Vice President and Controller since 2022. Mr. Vaughan was Vice President and Controller, U.S., Central and South America of Murphy Exploration & Production Company from 2017 to 2022.
Kelly L. Whitley – Age 59; Vice President, Investor Relations and Communications since 2015.
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Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
The Company’s common stock is traded on the New York Stock Exchange using “MUR” as the trading symbol. There were 1,873 stockholders of record as of December 31, 2024. Information on dividends per share by quarter for 2024 and 2023 are reported on page 122 of this Form 10-K report. Dividends are authorized and determined by the Board at its sole discretion and depend upon a number of factors, including available liquidity, market conditions, applicable legal requirements and other factors.
Issuer Purchases of Equity Securities
The Board has authorized a share repurchase program whereby the Company can repurchase up to $1,100.0 million of its common stock. Pursuant to the share repurchase program, the Company may repurchase shares through open market purchases, privately negotiated transactions and other means in accordance with federal securities laws. This repurchase program has no time limit and may be suspended or discontinued completely at any time without prior notice as determined by the Company at its discretion and dependent upon a variety of factors.
During the three months ended December 31, 2024, the Company did not repurchase any shares of its common stock. Since the inception of the share repurchase program through the end of the fourth quarter of 2024, the Company has repurchased 11.4 million shares of its common stock in open-market transactions. As of December 31, 2024, the Company had $650.1 million of its common stock remaining available to repurchase under the program.
Subsequent to year end, as of February 25, 2025, the Company repurchased 3.4 million shares of its common stock in open-market transactions for $95.1 million, excluding taxes and fees. As of this date, the Company had $555.0 million of its common stock remaining available to repurchase under the program.
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