Matthew J. Meloy has been the CEO of Targa Resources Corp. since March 1, 2020, after previously serving as President. He has a long history with the company, having worked in various executive roles since 2006, including Chief Financial Officer....

Matthew J. Meloy has been the CEO of Targa Resources Corp. since March 1, 2020, after previously serving as President. He has a long history with the company, having worked in various executive roles since 2006, including Chief Financial Officer. His leadership style has focused on driving performance metrics like Adjusted EBITDA and Distributable Cash Flow, essential for the company's growth in the energy sector. Under his helm, Targa's total compensation in 2023 reached an impressive $143.2 million, which included a significant bonus reflecting performance goals. His insider trading actions show confidence in the company, peaking with stock holdings valued around $100 million as of September 2024, indicating his substantial stake in Targa's success. Meloy's experience spans structured finance at the Royal Bank of Scotland before joining Targa, highlighting his financial acumen. This blend of deep industry expertise and significant personal investment showcases his commitment to the company and its future.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Targa Resources CEOs

T

Matthew J. Meloy

CEO of Targa Resources

Sector of Economy

Energy

Born

July 30, 2024 - 0 years ago

CEO of Targa Resources for

5 years 1 month (Mar 2020 - Present)

Previous Experience

Unknown

Rivals

Competitors/colleagues of Matthew J. Meloy

H

Jeffrey A. Miller

CEO of Halliburton

2023 Compensation

Stock

$27.46M

Salary

$1.60M

Bonus

$0.00

Other

$659.12K

Total Holdings

$29.98M

A

Paul M. Rady

Founder and CEO of Antero Midstream Corporation

2023 Compensation

Stock

$0.00

Salary

$1.07M

Bonus

$0.00

Other

$14.75K

Total Holdings

$682.48M

W

Alan S. Armstrong

CEO of Williams Companies

2023 Compensation

Stock

$27.11M

Salary

$1.39M

Bonus

$0.00

Other

$54.82K

Total Holdings

$152.08M

O

Pierce H. Norton II

CEO of Oneok

2023 Compensation

Stock

$813.39K

Salary

$835.00K

Bonus

$2.10M

Other

$336.99K

Total Holdings

$19.65M

O

Brendan McCracken

CEO of Ovintiv

2023 Compensation

Stock

$3.86M

Salary

$1.10M

Bonus

$2.54M

Other

$407.55K

Total Holdings

$7.62M

Holdings

See how much did Matthew J. Meloy make over time.

Matthew J. Meloy's insider trading history reveals substantial engagement with Targa Resources. From a peak in early 2021, his holdings were valued at approximately $21 million. By December 2022, this value surged to around $47 million. Currently, his holdings are...

Matthew J. Meloy's insider trading history reveals substantial engagement with Targa Resources. From a peak in early 2021, his holdings were valued at approximately $21 million. By December 2022, this value surged to around $47 million. Currently, his holdings are at an impressive $100 million as of September 2024. These fluctuations indicate his strong belief in the company's trajectory and financial strength. Meloy's strategic trades reflect a keen awareness of market dynamics, suggesting he is not just a passive holder but an active participant in his company's growth.

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Total Stock Sold

$2.24M

TRGP

$2.24M

30,747 TRGP shares

What if they kept their stock?

If Matthew J. Meloy didn't sell their stock, today they would have:
Extra TRGP30,747 shares worth $241.67K.
This is -89.23% and $2.00M less than what they got when they sold the stock.

Charitable Transactions

TRGP

221,046 shares

TRGP

Recent Charitable Transactions

TRGP

14,336 shares

TRGP

Aug 7, 2024

Charity

TRGP

38,852 shares

TRGP

Feb 21, 2024

Charity

TRGP

9,119 shares

TRGP

Nov 17, 2023

Charity

TRGP

10,241 shares

TRGP

Aug 10, 2023

Charity

TRGP

42,915 shares

TRGP

Feb 27, 2023

Charity

TRGP

9,504 shares

TRGP

Nov 4, 2022

Charity

Insider Trading

See recent insider trades of Matthew J. Meloy.

TRGP

14,336 shares

TRGP

Aug 7, 2024

Charity

TRGP

38,852 shares

TRGP

Feb 21, 2024

Charity

TRGP

345,746 shares

TRGP

Jan 18, 2024

Received

TRGP

9,119 shares

TRGP

Nov 17, 2023

Charity

TRGP

10,241 shares

TRGP

Aug 10, 2023

Charity

TRGP

42,915 shares

TRGP

Feb 27, 2023

Charity

TRGP

268,445 shares

TRGP

Jan 19, 2023

Received

TRGP

9,504 shares

TRGP

Nov 4, 2022

Charity

TRGP

19,788 shares

TRGP

Mar 4, 2022

Charity

TRGP

137,848 shares

TRGP

Jan 20, 2022

Received

Compensation History

See how much did Matthew J. Meloy make over time.

In 2023, Matthew J. Meloy's total compensation was an eye-catching $143.2 million. This total includes his base salary of $970,475, a bonus of $2.3 million tied to the company's performance metrics, and a vested stock value of around $24 million. His compensation plan is designed to align his interests with those of shareholders, emphasizing performance-based incentives. This approach has proven effective, as evidenced by his previous year’s compensation of $15 million in 2022, showing a significant increase. The structure of his pay promotes a focus on long-term growth and success for Targa Resources, reflecting a common strategy among top executives in the energy sector.

Year

2023

Total Compensation

$27.41M

Salary

$970.48K

Board Justification

The compensation program is designed to attract and retain key executives by providing competitive total compensation that aligns with company performance and shareholder interests.

Bonus

$2.33M

Board Justification

The bonus awarded pursuant to the 2023 Bonus Plan that was paid to the named executive officers in cash, based on performance metrics including Adjusted EBITDA and Distributable Cash Flow per share.

Other

$29.54K

Board Justification

Includes employer-provided contributions to the 401(k) plan and life insurance premiums paid by the Company.

Restricted Stock

$24.08M(320.84K RSU)

Board Justification

The number of shares acquired upon the vesting of restricted stock units during 2023, valued based on the closing price of the stock on the vesting date.

Performance Metrics

Adjusted EBITDA, Distributable Cash Flow per share, and the percentage of G&P volumes with fees or fee-based floors.

Other Targa Resources CEOs

Here are other CEOs of Targa Resources

Joe Bob Perkins

Ex-CEO of Targa Resources

January 2012 - March 2020