Marathon Petroleum legal chief sells 17,196 shares
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Form Type
4
Rhea-AI Filing Summary
Marathon Petroleum Corp (MPC) reports that Chief Legal Officer and Corporate Secretary Molly R. Benson exercised employee stock options to acquire 17,196 shares of common stock at an exercise price of $47.73 per share and sold 17,196 shares at $358.57 per share on August 17, 2026. These transactions, reflecting net sales of common stock, were effected pursuant to a Rule 10b5-1 trading plan adopted on May 15, 2026. Benson also holds an indirect position of 88.355 shares through a 401(k) plan, which includes fractional shares acquired via dividend reinvestment.
Insider Trade Summary 10b5-1
Exercise and Sale: 17,196 shares ($5.35M approx. pre-tax spread)
Exercise and Sale
10 txns
Insider
Benson Molly R
Role
Chief Legal Ofc & Corp Sec
Sold
17,196 shs ($6.17M)
Approx. gross sale proceeds
$6.17M
Approx. exercise cost
$821K
Approx. pre-tax spread
$5.35M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (right to buy) F4 | 7,196 | $0.00 | $0.00 |
| Exercise | Employee Stock Option (right to buy) F4 | 5,000 | $0.00 | $0.00 |
| Exercise | Employee Stock Option (right to buy) F4 | 5,000 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 7,196 | $47.73 | $343K |
| Sale | Common Stock F2 | 7,196 | $358.57 | $2.58M |
| Exercise | Common Stock | 5,000 | $47.73 | $239K |
| Sale | Common Stock F2 | 5,000 | $358.57 | $1.79M |
| Exercise | Common Stock | 5,000 | $47.73 | $239K |
| Sale | Common Stock F2 | 5,000 | $358.57 | $1.79M |
| holding | Common Stock F3 | -- | -- | -- |
Holdings After Transaction:
Employee Stock Option (right to buy) — 0 contracts (Direct);
Common Stock — 30,334.3328 shares (Direct);
Common Stock — 88.355 shares (Indirect, By 401(k) Plan)
Footnotes (4)
- F1. Includes 0.177747 shares acquired pursuant to dividend reinvestment and not previously reported pursuant to Rule 16a-11.
- F2. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 15, 2026.
- F3. Includes 0.736 shares acquired pursuant to dividend reinvestment and not previously reported pursuant to Rule 16a-11.
- F4. This option, in the amount of 17,196, is exercisable as follows: 5,732 shares on March 1, 2021, 5,732 shares on March, 1, 2022 and 5,732 shares on March 1, 2023.
Key Figures
Shares sold: 17,196 shares
Sale price per share: $358.57 per share
Option exercise price: $47.73 per share
+4 more
7 metrics
Shares sold
17,196 shares
Total MPC common shares sold by Molly R. Benson on August 17, 2026
Sale price per share
$358.57 per share
Price for MPC common stock sales on August 17, 2026
Option exercise price
$47.73 per share
Exercise price of employee stock options converted into MPC common stock
Options exercised
17,196 shares
Total underlying MPC common shares from employee stock options exercised
Indirect 401(k) holdings
88.355 shares
MPC common stock held indirectly by Molly R. Benson via a 401(k) plan
Option expiration date
2030-03-01
Expiration date of the employee stock option originally covering 17,196 shares
10b5-1 plan adoption date
2026-05-15
Date Benson adopted the Rule 10b5-1 trading plan used for these sales
Key Terms
Rule 10b5-1 trading plan, Employee Stock Option, dividend reinvestment, 401(k) Plan
4 terms
Rule 10b5-1 trading plan regulatory
"The sales reported ... were effected pursuant to a Rule 10b5-1 trading plan"
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
Employee Stock Option financial
"security_title: Employee Stock Option (right to buy)"
An employee stock option is a promise that lets a worker buy company shares later at a predetermined price, often after they stay for a certain period or meet performance goals — think of it like a coupon that locks in today's price for a future purchase. It matters to investors because options align employees’ incentives with company performance, can increase the number of shares outstanding (dilution) when exercised, and represent a compensation cost that affects reported profits and shareholder value.
dividend reinvestment financial
"Includes shares acquired pursuant to dividend reinvestment and not previously reported"
Dividend reinvestment is when the money earned from a company's profit sharing, called dividends, is automatically used to buy more shares of that company instead of being received as cash. This process helps investors grow their holdings over time without extra effort, much like using earned interest to buy more of a savings account. It encourages long-term investment growth by continuously increasing the amount of shares owned.
401(k) Plan financial
"nature_of_ownership: By 401(k) Plan"
A 401(k) plan is a workplace retirement account that lets employees set aside part of their pay into a tax-advantaged savings pot, often with employers adding matching contributions — like a workplace piggy bank for future income. It matters to investors because the amount people save and how employers fund these plans influence consumer spending, corporate payroll costs and the flow of money into financial markets, which can affect stock prices and company valuations.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did MPC executive Molly R. Benson report on August 17, 2026?
MPC executive Molly R. Benson exercised options for 17,196 shares at $47.73 and sold 17,196 shares at $358.57 on August 17, 2026. The activity reflects option exercises followed by open-market or private sales of the resulting common stock.
What was the exercise price of the options Molly R. Benson exercised in MPC stock?
The employee stock options exercised by Molly R. Benson had an exercise price of $47.73 per share. Exercising these options produced 17,196 common shares, which were then sold on the same date in separate transactions.
Were Molly R. Benson’s MPC stock sales made under a Rule 10b5-1 trading plan?
Yes. The filing states that the MPC stock sales were effected under a Rule 10b5-1 trading plan. The plan was adopted by Molly R. Benson on May 15, 2026, providing a pre-arranged framework for executing the reported sales.
What role does Molly R. Benson hold at Marathon Petroleum Corp (MPC)?
Molly R. Benson is identified as Chief Legal Officer and Corporate Secretary of Marathon Petroleum Corp. Her position makes her a reporting officer whose equity transactions in MPC stock are subject to public disclosure requirements.
AI-generated analysis. How Rhea-AI works. Not financial advice.
