MUSA · Murphy USA Inc.

At the 2026 Annual Meeting on May 7, Murphy USA Inc. stockholders elected all four nominated Class I directors in an uncontested election, ratified KPMG LLP as the independent auditor, and provided advisory approval for executive compensation, signaling strong alignment with management's recommendations. Most significantly, Proposals 4 and 5 passed, approving amendments to the Certificate of Incorporation that initiate a three-year phase-out of the classified board structure—directors elected in 2024-2026 complete their terms, with annual elections beginning fully at the 2029 meeting—and grant stockholders owning 25% or more of voting power the right to call special meetings. These changes, implemented via filings with Delaware on May 7 and conforming bylaw amendments, enhance shareholder rights and governance flexibility without immediate board disruption. The rejection of the competing stockholder proposal on special meetings underscores preference for the company's calibrated approach over broader access.