Targa Resources Management

Management criteria checks 3/4

Targa Resources' CEO is Matt Meloy, appointed in Mar 2020, has a tenure of 4.67 years. total yearly compensation is $14.19M, comprised of 6.8% salary and 93.2% bonuses, including company stock and options. directly owns 0.31% of the company’s shares, worth MX$2.75B. The average tenure of the management team and the board of directors is 3.6 years and 7.5 years respectively.

Key information

Matt Meloy

Chief executive officer

US$14.2m

Total compensation

CEO salary percentage	6.8%
CEO tenure	4.7yrs
CEO ownership	0.3%
Management average tenure	3.6yrs
Board average tenure	7.5yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Matt Meloy's remuneration changed compared to Targa Resources's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	US$1b
Jun 30 2024	n/a	n/a	US$1b
Mar 31 2024	n/a	n/a	US$1b
Dec 31 2023	US$14m	US$970k	US$828m
Sep 30 2023	n/a	n/a	US$868m
Jun 30 2023	n/a	n/a	US$844m
Mar 31 2023	n/a	n/a	US$890m
Dec 31 2022	US$15m	US$900k	US$897m
Sep 30 2022	n/a	n/a	US$244m
Jun 30 2022	n/a	n/a	US$211m
Mar 31 2022	n/a	n/a	-US$128m
Dec 31 2021	US$15m	US$875k	-US$16m
Sep 30 2021	n/a	n/a	US$319m
Jun 30 2021	n/a	n/a	US$195m
Mar 31 2021	n/a	n/a	US$210m
Dec 31 2020	US$12m	US$780k	-US$2b
Sep 30 2020	n/a	n/a	-US$2b
Jun 30 2020	n/a	n/a	-US$2b
Mar 31 2020	n/a	n/a	-US$2b
Dec 31 2019	US$6m	US$588k	-US$334m
Sep 30 2019	n/a	n/a	-US$327m
Jun 30 2019	n/a	n/a	-US$302m
Mar 31 2019	n/a	n/a	-US$182m
Dec 31 2018	US$6m	US$517k	-US$119m
Sep 30 2018	n/a	n/a	US$272m
Jun 30 2018	n/a	n/a	US$129m
Mar 31 2018	n/a	n/a	US$78m
Dec 31 2017	US$6m	US$473k	-US$63m

Compensation vs Market: Matt's total compensation ($USD14.19M) is above average for companies of similar size in the MX market ($USD5.72M).

Compensation vs Earnings: Matt's compensation has been consistent with company performance over the past year.

CEO

Matt Meloy (46 yo)

4.7yrs

Tenure

US$14,191,630

Compensation

Mr. Matthew J. Meloy, also known as Matt, is Chief Executive Officer and Director of Targa Resources GP LLC, the General Partner of Targa Resources Partners LP since March 1, 2020. Mr. Meloy has been Chief...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Matthew Meloy	CEO & Director	4.7yrs	US$14.19m	0.31% MX$ 2.8b
Jennifer Kneale	President of Finance & Administration	less than a year	US$5.67m	0.10% MX$ 893.9m
D. Pryor	President of Logistics & Transportation	6.7yrs	US$4.22m	0.057% MX$ 510.6m
Patrick McDonie	President of Gathering & Processing	9yrs	US$4.22m	0.11% MX$ 1.0b
Robert Muraro	Chief Commercial Officer	6.7yrs	US$4.22m	0.080% MX$ 713.6m
William Byers	Executive Vice President & CFO	less than a year	no data	0.0016% MX$ 14.4m
Julie Boushka	Senior VP & Chief Accounting Officer	5.7yrs	no data	0.012% MX$ 102.8m
Sanjay Lad	Vice President of Finance & Investor Relations	7.6yrs	no data	no data
Gerald Shrader	Executive VP	less than a year	no data	0.014% MX$ 121.1m
Denny Latham	Executive VP of Permian & General Partner	2.3yrs	no data	no data
Joel Thomas	Senior VP of Finance & Treasurer	1.6yrs	no data	no data
J. Eklof	VP & Controller	2.5yrs	no data	no data

3.6yrs

Average Tenure

58yo

Average Age

Experienced Management: TRGP *'s management team is considered experienced (3.6 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Matthew Meloy	CEO & Director	4.7yrs	US$14.19m	0.31% MX$ 2.8b
Randy Christofferson	Observer	8.8yrs	no data	no data
Joe Perkins	Independent Director	12.8yrs	US$281.27k	0.073% MX$ 646.9m
Rene Joyce	Independent Director	19.1yrs	US$281.27k	0.36% MX$ 3.2b
Charles Crisp	Independent Director	19.1yrs	US$285.02k	0.038% MX$ 335.3m
Caron Lawhorn	Independent Director	less than a year	no data	0.00074% MX$ 6.6m
Paul Chung	Chairman of the Board	3.8yrs	US$456.93k	0.24% MX$ 2.1b
Robert Teague	Independent Director	less than a year	no data	0.0023% MX$ 20.4m
Laura Fulton	Lead Independent Director	11.8yrs	US$306.27k	0.013% MX$ 117.5m
Beth Bowman	Independent Director	6.2yrs	US$296.27k	0.0086% MX$ 77.2m
Waters Davis	Independent Director	9.3yrs	US$297.52k	0.0044% MX$ 39.7m
Lindsey Cooksen	Independent Director	4.4yrs	US$281.27k	0.0043% MX$ 38.0m

7.5yrs

Average Tenure

64yo

Average Age

Experienced Board: TRGP *'s board of directors are considered experienced (7.5 years average tenure).

Targa Resources Management

Management criteria checks 3/4

Key information

Recent management updates

President of Logistics & Transportation recently sold Mex$52m worth of stock

Insufficient new directors

Targa Resources Corp., Annual General Meeting, May 16, 2024

Targa Resources Corp. Appoints Caron A. Lawhorn as Class III Director and Member of Audit Committee

Targa Resources Corp. Announces Board Changes

Executive VP recently sold Mex$45m worth of stock

Recent updates

Investor sentiment improves as stock rises 35%

Targa Resources Corp. Announces Quarterly Dividend for the Third Quarter of 2024, Payable on November 15, 2024

President of Logistics & Transportation recently sold Mex$52m worth of stock

Targa Resources Corp. (NYSE:TRGP) announces an Equity Buyback for $1,000 million worth of its shares.

First quarter dividend of US$0.75 announced

Targa Resources Corp. to Report Q2, 2024 Results on Aug 01, 2024

Investor sentiment improves as stock rises 16%

First quarter 2024 earnings released: EPS: US$1.24 (vs US$0.028 in 1Q 2023)

Upcoming dividend of US$0.75 per share

Insufficient new directors

Targa Resources Corp. to Report Q1, 2024 Results on May 02, 2024

Targa Resources Corp., Annual General Meeting, May 16, 2024

Targa Resources Corp. Appoints Caron A. Lawhorn as Class III Director and Member of Audit Committee

Targa Resources Corp. Announces Board Changes

Targa Resources Corp. to Report Q4, 2023 Results on Feb 15, 2024

Targa Resources Corp. Provides Earnings Guidance for the Full Year 2023

Targa Resources Corp. to Report Q3, 2023 Results on Nov 02, 2023

Upcoming dividend of US$0.50 per share at 2.5% yield

Targa Resources Corp. to Report Q2, 2023 Results on Aug 03, 2023

Targa Resources Corp. (NYSE:TRGP) announces an Equity Buyback for $1,000 million worth of its shares.

Investor sentiment improves as stock rises 48%

Executive VP recently sold Mex$45m worth of stock

Full year 2022 earnings released: EPS: US$3.96 (vs US$0.07 loss in FY 2021)

Targa Resources Corp. to Report Q4, 2022 Results on Feb 22, 2023

Targa Resources Corp. (NYSE:TRGP) completed the acquisition of 25% stake in Grand Prix Natural Gas Liquids Pipeline from Blackstone Energy Partners L.P. managed by Blackstone Inc. (NYSE:BX).

Targa Resources Corp. (NYSE:TRGP) entered into a definitive agreement to acquire 25% stake in Grand Prix Natural Gas Liquids Pipeline from Blackstone Energy Partners L.P. managed by Blackstone Inc. (NYSE:BX) for $1.1 billion.

Targa Resources Corp. (NYSE:TRGP) entered into a definitive agreement to acquire 25% stake in Grand Prix Natural Gas Liquids Pipeline from Blackstone Energy Partners L.P. managed by Blackstone Inc. (NYSE:BX) for $1.1 billion.

Senior VP & Chief Accounting Officer recently sold Mex$2.9m worth of stock

Senior VP & Chief Accounting Officer recently sold Mex$2.9m worth of stock

Third quarter 2022 earnings released: EPS: US$0.85 (vs US$0.70 in 3Q 2021)

Upcoming dividend of US$0.35 per share

Targa Resources Corp. to Report Q3, 2022 Results on Nov 03, 2022

Executive VP recently sold Mex$8.7m worth of stock

Second quarter 2022 earnings released: EPS: US$1.63 (vs US$0.15 in 2Q 2021)

Upcoming dividend of US$0.35 per share

Targa Resources Corp. to Report Q2, 2022 Results on Aug 04, 2022

Targa Resources Corp. (NYSE:TRGP) entered into a definitive agreement to acquire Lucid Energy Delaware LLC from Goldman Sachs Asset Management, L.P. and Riverstone Holdings LLC for $3.6 billion.

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

Average Age