MUR Insider Filing — 266,930-Share Sale and Phantom Units Reported

Rhea-AI Filing Summary

Nolan Jeffrey W, a director of Murphy Oil Corporation (MUR), reported transactions dated 09/30/2025. The filing shows a disposition of 266,930 shares of common stock and several forms of beneficial ownership held after the transaction: 292,012 shares indirectly as beneficiary of a trust, 520 shares held by spouse, 21,625 as self trustee for his children, and 31,758 shares held in trust for his children. Under the company’s Non-Qualified Deferred Compensation Plan for Non-Employee Directors, he acquired 924 phantom stock units at an economic value equivalent to common stock with a reported unit value of $28.41, leaving 34,067 derivative-equivalent shares beneficially owned. The phantom units are payable in cash per the plan.

Positive

• Acquisition of 924 phantom stock units under the Non-Qualified Deferred Compensation Plan, with economic equivalence to common stock
• Detailed disclosure of multiple ownership forms (direct, trust, spouse, trustee for children) enabling transparent insider ownership tracking

Negative

• Disposition of 266,930 common shares reported on 09/30/2025
• Significant change in direct common stock holdings due to the reported sale (266,930 shares disposed)

Insights

Financial Analyst

TL;DR Director Nolan Nolan reported a large outright sale and smaller deferred-compensation accruals; disclosure is routine insider activity.

The filing documents a significant disposition of 266,930 common shares on 09/30/2025 and contemporaneous holdings across direct and indirect accounts. It also records the acquisition of 924 phantom stock units under the Non-Qualified Deferred Compensation Plan, valued at $28.41 per unit for reporting purposes. As a Form 4, this is a required Section 16 disclosure showing ownership changes rather than company operational updates. The figures allow investors and compliance officers to update insider ownership registers and monitor potential future disclosures tied to the deferred-compensation payout mechanics.

Corporate Governance Expert

TL;DR This is a standard Section 16 filing showing a director's sale and deferred-compensation accrual; it informs governance and disclosure records.

The report identifies the reporting person as a director and discloses both direct dispositions and indirect holdings (trust and family-related). The acquisition of phantom stock units is explicitly tied to the company’s Non-Qualified Deferred Compensation Plan and will be payable in cash per the reporting person’s distribution election. The filing appears complete for the transactions reported and includes an attorney-in-fact signature, fulfilling signature requirements for timeliness and formality of insider reporting.

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).

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)
09/30/2025

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)	09/30/2025		A		924		(2)	(2)	Common Stock	924	$28.41	34,067(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 411 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 September 30, 2025.

	/s/ E. Ted Botner, attorney-in-fact	10/01/2025
	** 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 transactions did Nolan Jeffrey W report for MUR on 09/30/2025?

He reported a disposition of 266,930 common shares and the acquisition of 924 phantom stock units under the Non-Qualified Deferred Compensation Plan.

How many shares does Nolan Jeffrey W beneficially own after the reported transactions?

Following the transactions the filing shows 292,012 shares indirectly as beneficiary of a trust plus other holdings (520 by spouse; 21,625 self trustee for children; 31,758 in trust for children).

What is the reported value per phantom stock unit in the Form 4 for MUR?

The filing reports a value/price of $28.41 per phantom stock unit acquired.

Are the phantom stock units payable in stock or cash?

The filing states the phantom stock units are economic equivalents of common stock and become payable in cash consistent with the reporting person’s distribution election.

Who signed the Form 4 for Nolan Jeffrey W?

The Form 4 is signed by /s/ E. Ted Botner, attorney-in-fact with a signature date of 10/01/2025.