Murphy USA director awarded deferred RSU grant

MILLER DAVID B reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

MILLER DAVID B reported acquisition or exercise transactions in this Form 4 filing.

Murphy USA Inc. director David B. Miller reported an equity compensation grant of Restricted Stock Units (RSUs). On March 31, 2026, he received 54.950 RSUs tied to Murphy USA common stock at an assigned price of $0.00 per unit under the 2023 Omnibus Incentive Plan.

The award consists of fully-vested RSUs issued instead of quarterly cash director retainers. Settlement of these RSUs, including accrued dividend equivalent units, is deferred until Miller’s termination of service from the Board. Following this grant, his direct RSU holdings total 847.996 units.

Insider Trade Summary

Grant/Award: 54.95 shares

Grant/Award 1 txn

Insider MILLER DAVID B

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Unit	54.95	$0.00	$0.00

Holdings After Transaction: Restricted Stock Unit — 847.996 contracts (Direct)

Footnotes (4)

1. F1. Award granted under the 2023 Omnibus Incentive Plan.
2. F2. These Securities generally do not carry a Conversion Price, Exercisable Date, or Expiration Date.
3. F3. Represent fully-vested RSUs issued in lieu of the reporting person's quarterly cash retainer(s). The reporting person has elected to defer settlement of RSUs and accrued dividend equivalent units thereon to the reporting person's termination of service from the Board, in accordance with their deferral election form.
4. F4. Includes dividend equivalent units accrued with respect to the underlying RSUs.

Key Figures

RSUs granted: 54.950 units RSUs held after grant: 847.996 units Grant price per RSU: $0.00 per unit +1 more

4 metrics

RSUs granted 54.950 units Restricted Stock Units granted on March 31, 2026

RSUs held after grant 847.996 units Total direct RSU holdings following the transaction

Grant price per RSU $0.00 per unit Assigned transaction price for the RSU award

Underlying common stock 54.950 shares Underlying Murphy USA common stock tied to the RSU grant

Key Terms

Restricted Stock Unit, 2023 Omnibus Incentive Plan, dividend equivalent units, deferral election form

4 terms

Restricted Stock Unit financial

"security_title: "Restricted Stock Unit" and fully-vested RSUs issued in lieu of cash"

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

2023 Omnibus Incentive Plan financial

"Award granted under the 2023 Omnibus Incentive Plan."

dividend equivalent units financial

"Includes dividend equivalent units accrued with respect to the underlying RSUs."

Dividend equivalent units are bookkeeping credits that mirror cash dividends paid on actual shares, granted to holders of stock-based awards such as restricted stock units or deferred compensation. They matter to investors because they increase a company’s reported employee compensation cost and can lead to issuance of more shares or cash payouts over time, similar to extra pay linked to ownership that affects shareholder dilution and corporate cash flow.

deferral election form financial

"in accordance with their deferral election form."

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Accepted by SEC EDGAR 04/02/2026 - 05:31 PM EDT Learn about SEC filing dates

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

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

MILLER DAVID B

(Last) (First) (Middle)

200 PEACH STREET

(Street)

EL DORADO ARKANSAS 71730

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Murphy USA Inc. [ MUSA ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/31/2026

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

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

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

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

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
Restricted Stock Unit(1)	(2)	03/31/2026		A		54.95(1)		(2)(3)	(2)(3)	Common Stock	54.95	$0	847.996(3)(4)	D

Explanation of Responses:

1. Award granted under the 2023 Omnibus Incentive Plan.

2. These Securities generally do not carry a Conversion Price, Exercisable Date, or Expiration Date.

3. Represent fully-vested RSUs issued in lieu of the reporting person's quarterly cash retainer(s). The reporting person has elected to defer settlement of RSUs and accrued dividend equivalent units thereon to the reporting person's termination of service from the Board, in accordance with their deferral election form.

4. Includes dividend equivalent units accrued with respect to the underlying RSUs.

	/s/ Gregory L. Smith, attorney-in-fact	04/02/2026
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)