Murphy Oil (MUR) director reports new phantom stock grant and holdings

Rhea-AI Filing Summary

Murphy Oil Corporation reported an insider equity change involving a board member. As of the filing, the director held 266,930 shares of common stock directly, with additional indirect holdings through various family and trust accounts, including 292,012 shares as beneficiary of a trust and smaller amounts held by a spouse and for children.

The filing also shows the director acquired 840 units of phantom stock on 12/31/2025 under Murphy Oil’s Non-Qualified Deferred Compensation Plan for Non-Employee Directors. Each phantom stock unit is economically equivalent to one share of common stock but will be settled in cash according to the director’s prior distribution election. After this grant, the director beneficially owned 35,258 phantom stock units.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Nolan Jeffrey W

(Last) (First) (Middle)

9805 KATY FREEWAY

G-200

(Street)

HOUSTON TX 77024

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
MURPHY OIL CORP [ MUR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
12/31/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock								266,930	D
Common Stock								292,012	I	Beneficiary Of Trust
Common Stock								520	I	By Spouse
Common Stock								21,625	I	Self, Trustee For My Children
Common Stock								31,758	I	Shares Held In Trust For My Children For Whom Others Are Trustee

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock	(1)	12/31/2025		A		840		(2)	(2)	Common Stock	840	$31.25	35,258(3)	D

Explanation of Responses:

1. Each share of phantom stock is the economic equivalent of one (1) share of Murphy Oil Corporation common stock.

2. The reported shares of phantom stock were acquired under Murphy Oil Corporation's Non-Qualified Deferred Compensation Plan for Non-Employee Directors and become payable, in cash, consistent with the Reporting Person's distribution election made at the time of deferral.

3. Includes 351 shares obtained under Murphy Oil Corporation's Non-Qualified Deferred Compensation Plan for Non-Employee Directors. The information in this report is based on a plan statement dated December 31, 2025.

	/s/ E. Ted Botner, attorney-in-fact	01/05/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What insider activity at Murphy Oil (MUR) is disclosed in this report?

The report shows a Murphy Oil director acquired 840 phantom stock units on 12/31/2025 under the company’s Non-Qualified Deferred Compensation Plan for Non-Employee Directors.

How many Murphy Oil common shares does the reporting person hold?

The director holds 266,930 common shares directly, plus several indirect positions including 292,012 shares as beneficiary of a trust, 520 shares by spouse, and additional shares held in trusts for children.

What is phantom stock in the context of Murphy Oil (MUR)?

Murphy Oil’s filing states that each share of phantom stock is the economic equivalent of one share of Murphy Oil common stock, but is payable in cash under the Non-Qualified Deferred Compensation Plan for Non-Employee Directors.

When do the Murphy Oil phantom stock units become payable?

The phantom stock units become payable in cash consistent with the reporting person’s distribution election made at the time of deferral, as described in the Non-Qualified Deferred Compensation Plan for Non-Employee Directors.

What is the total number of Murphy Oil phantom stock units held after the transaction?

After acquiring 840 new units, the director beneficially owned 35,258 phantom stock units, including 351 units obtained under the same deferred compensation plan, based on a plan statement dated December 31, 2025.

Does this Murphy Oil insider transaction involve direct buying or selling of common stock?

The disclosure lists the director’s existing common stock holdings but the reported new activity is the grant of 840 phantom stock units under a deferred compensation plan, not a market purchase or sale of common shares.