MURPHY OIL CORP — Director's Dealing 2023

May 12, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MURPHY OIL CORP (MUR)
CIK: 0000717423
Period of Report: 2023-05-10

Reporting Person: Schmale Neal E (Retired Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-05-10	Common Stock	M	33962	—	Acquired	258750	Direct
2023-05-10	Common Stock	M	31181	—	Acquired	289931	Direct
2023-05-10	Common Stock	D	31181	$33.99	Disposed	258750	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-05-10	Restricted Stock Unit	$	M	7156	Disposed		Common Stock (7156)	Direct
2023-05-10	Restricted Stock Unit	$	M	8854	Disposed		Common Stock (8854)	Direct
2023-05-10	Restricted Stock Unit	$	M	15221	Disposed		Common Stock (15221)	Direct
2023-05-10	Phantom Stock	$	M	31181	Disposed		Common Stock (31181)	Direct

Footnotes

F1: Represents Restricted Stock Units (RSUs) that have settled in shares of the Company's stock on a one-for-one basis due to the retirement of the reporting person on May 10, 2023.Pursuant to the terms of the time-based grant awarded under the 2018 Stock Plan for Non-Employee Directors, the total includes 100% of the original award, plus shares equivalent in value to accumulated dividends.

F2: Each phantom stock unit is the economic equivalent of one (1) share of Murphy Oil Corporation common stock. On May 10, 2023, due to the retirement of the reporting person, 31,181 of the reporting person's phantom stock units were settled for cash.

F3: Restricted Stock Unit Award granted under the 2018 Stock Plan for Non-Employee Directors.

F4: These Securities generally do not carry a Conversion Price, Exercisable Date, or Expiration Date.

F5: The original vesting date was February 4, 2022. The reporting person elected to defer settlement of these restricted stock units in accordance with their 2019 deferral election form to May 10, 2023.

F6: The original vesting date was February 5, 2021. The reporting person elected to defer settlement of these restricted stock units in accordance with their 2020 deferral election form to May 10, 2023.

F7: The original vesting date was February 3, 2022. The reporting person elected to defer settlement of these restricted stock units in accordance with their 2021 deferral election form to May 10, 2023.

F8: 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.