Murphy USA (NYSE: MUSA) names Donald R. Smith Jr. as new CFO
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Murphy USA Inc. appointed Donald R. Smith, Jr., its Interim Chief Financial Officer and Vice President, Chief Accounting Officer & Treasurer, as Senior Vice President, Chief Financial Officer and Treasurer, effective April 3, 2026. Smith, age 54, has been with Murphy USA since its 2013 spin-off, after more than 14 years in progressive audit roles at KPMG LLP.
In connection with the promotion, his annual base salary will be $550,000, his target annual cash bonus will be 70% of base salary, and his target long-term equity incentive award will be 125% of base salary. He will also receive a one-time cash bonus of $45,000 and a 2026 “top-up” equity incentive award with a target value of $260,000, split into 50% performance stock units, 25% restricted stock units and 25% stock options. The company states there are no family relationships or related-party transactions connected to his appointment.
Positive
- None.
Negative
- None.
8-K Event Classification
2 items: 5.02, 9.01
2 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
CFO base salary: $550,000 per year
Target annual cash bonus: 70% of base salary
Target long-term equity incentive: 125% of base salary
+4 more
7 metrics
CFO base salary
$550,000 per year
Annual base salary for Donald R. Smith Jr. as CFO
Target annual cash bonus
70% of base salary
CFO target bonus opportunity
Target long-term equity incentive
125% of base salary
CFO long-term equity incentive opportunity
One-time cash bonus
$45,000
One-time bonus in connection with CFO appointment
2026 top-up equity award
$260,000 target value
Additional 2026 equity incentive for CFO
CFO age
54 years
Age of Donald R. Smith Jr.
Prior KPMG tenure
Over 14 years
Time spent in progressive roles at KPMG LLP
Key Terms
performance stock units, restricted stock units, stock options, long-term equity incentive award, +1 more
5 terms
performance stock units financial
"standard mix of 50% performance stock units, 25% restricted stock units"
Performance stock units are a type of company award that grants employees shares of stock only if certain performance goals are met. They motivate employees to work toward specific company achievements, aligning their interests with those of shareholders. For investors, they can influence a company's future stock supply and reflect management’s confidence in reaching key targets.
restricted stock units financial
"standard mix of 50% performance stock units, 25% restricted stock units"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
stock options financial
"standard mix of 50% performance stock units, 25% restricted stock units and 25% stock options"
Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.
long-term equity incentive award financial
"target long-term equity incentive award opportunity will be increased to 125% of his base salary"
Regulation S-K regulatory
"any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K"
A set of U.S. Securities and Exchange Commission rules that tell public companies which narrative and qualitative details must be disclosed in filings, such as risk factors, management discussion, executive pay, legal proceedings and business description. Think of it as a standardized checklist or blueprint that ensures investors get the same types of background information from every company so they can compare risks, management quality and strategy before making investment decisions.
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): April 6, 2026 (April 3, 2026 )
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | |||||||||
| | |||||||||||
| (Address of principal executive offices) | (Zip Code) | ||||||||||
(870 ) 875-7600
(Registrant's telephone number, including area code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On April 3, 2026, the Board of Directors of Murphy USA Inc. (“Murphy USA” or the “Company”) appointed Donald R. Smith, Jr., the Company’s current Interim Chief Financial Officer and Vice President, Chief Accounting Officer & Treasurer, as Senior Vice President, Chief Financial Officer and Treasurer of the Company, effective April 3, 2026.
Mr. Smith, age 54, has been employed by Murphy USA since its 2013 spin-off from Murphy Oil Corporation, initially serving as Vice President and Controller (and designated as Chief Accounting Officer for reporting purposes). In 2024, Mr. Smith was also named as the Company’s Treasurer, and in October 2025 was also named Interim Chief Financial Officer of the Company. Prior to his service at Murphy USA, Mr. Smith served in progressive roles for over 14 years at KPMG, LLP and departed from KPMG as a Senior Manager in the Audit and Assurance Practice.
In connection with his appointment, Mr. Smith’s annual base salary will be increased to $550,000, his target annual cash bonus opportunity will be increased to 70% of his base salary and his target long-term equity incentive award opportunity will be increased to 125% of his base salary. In addition, Mr. Smith will receive a one-time cash bonus of $45,000, as well as a “top-up” annual equity incentive award for 2026 with a targeted grant date value of $260,000, which will be granted in accordance with the Company’s standard mix of 50% performance stock units, 25% restricted stock units and 25% stock options.
There are no family relationships between Mr. Smith and any officer or director of the Company, or any other arrangement or understanding between Mr. Smith and any other person pursuant to which he was appointed as Chief Financial Officer. Mr. Smith does not have any direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
| Exhibit Index | ||||||||
| Exhibit Number | Description | |||||||
| 104 | Cover Page Interactive Data File - the cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document | |||||||
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
MURPHY USA INC. | |||||||||||
| Date: | April 6, 2026 | By: /s/ Gregory L. Smith | |||||||||
| Gregory L. Smith | |||||||||||
| Vice President, General Counsel and Corporate Secretary | |||||||||||
FAQ
What leadership change did Murphy USA (MUSA) disclose in this 8-K?
Murphy USA appointed Donald R. Smith, Jr. as Senior Vice President, Chief Financial Officer and Treasurer, effective April 3, 2026. He had been serving as Interim CFO and Chief Accounting Officer after joining the company at its 2013 spin-off from Murphy Oil.
What is Donald R. Smith Jr.’s new compensation as Murphy USA (MUSA) CFO?
As CFO, Donald R. Smith Jr. will receive a $550,000 annual base salary, a target annual cash bonus equal to 70% of base salary, and a target long-term equity incentive award equal to 125% of base salary, aligning much of his pay with performance-based incentives.
What one-time payments and equity awards will Murphy USA’s new CFO receive?
Donald R. Smith Jr. will receive a one-time cash bonus of $45,000 and a 2026 “top-up” equity incentive award with a targeted grant date value of $260,000, granted under Murphy USA’s standard mix of performance stock units, restricted stock units and stock options.
How is the 2026 top-up equity incentive for Murphy USA’s CFO structured?
The 2026 top-up equity incentive award for Murphy USA’s CFO has a targeted grant date value of $260,000, allocated as 50% performance stock units, 25% restricted stock units and 25% stock options, creating a blend of performance-based and time-vested equity exposure.