Guy M. Oliphint
About Guy M. Oliphint
Executive Vice President and Chief Financial Officer (since March 2023), age 44. Previously EVP of Finance (January–March 2023). Before PR, he was Managing Director and Co‑Head of Upstream Americas at Jefferies (2018; joined in 2003), advising upstream E&P companies including PR’s predecessor entities (Colgate and Centennial). Education: B.B.A., Business Honors and Finance, University of Texas at Austin . 2024 AIP outcomes underscore pay‑for‑performance: Free Cash Flow/Share $1.64 vs $1.50 target; LOE+Cash G&A/Boe $6.38 vs $6.75; flaring 1.0% vs 2.0%; TRIR 0.57 vs 0.65 — each scored “Exceeded/Outperformed” .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Permian Resources (PR) | Executive Vice President of Finance | Jan 2023–Mar 2023 | Joined to execute CFO succession plan |
| Permian Resources (PR) | Chief Financial Officer | Mar 2023–Present | Leads finance; signatory and SOX certifications on SEC filings |
| Jefferies LLC (Energy IB) | Managing Director & Co‑Head Upstream Americas | 2018–2022 | Advised upstream companies incl. Colgate and Centennial (PR predecessors) on strategic and financial decisions |
Note: Oliphint joined Jefferies in 2003 before becoming MD & Co‑Head in 2018 .
External Roles
No public company directorships or external roles disclosed for Mr. Oliphint in the executive officer biographies section of the 2025 proxy .
Fixed Compensation
Summary Compensation (multi‑year)
| Metric ($) | 2023 | 2024 |
|---|---|---|
| Base Salary | 439,904 | 475,000 |
| Stock Awards (grant‑date fair value) | 4,899,778 | 3,670,016 |
| Non‑Equity Incentive Plan (AIP) | 607,500 | 760,000 |
| All Other Compensation (incl. 401k match) | 146,996 | 19,250 |
| Total | 6,094,178 | 4,924,266 |
Annual Incentive Program (AIP) — Target and Payout
| Item | 2023 | 2024 |
|---|---|---|
| Target bonus (% of base salary) | 90% | 100% |
| Actual AIP cash award ($) | 607,500 | 760,000 |
- Base salary increased from $450,000 (2023) to $475,000 (2024), +6% .
Performance Compensation
AIP Scorecard — 2024 Results
| Metric | Target | Actual/Assessment | Notes |
|---|---|---|---|
| All‑in Rate of Return (strip‑based) | 55% | Exceeded | Company exceeded ROR goal |
| Free Cash Flow/Share | $1.50 | $1.64 — Exceeded | Non‑GAAP; see proxy Appendix A reference |
| LOE + Cash G&A per Boe | $6.75 | $6.38 — Exceeded | Maintained low cost structure |
| ESG — Flaring | 2.0% | 1.0% — Outperformed | |
| ESG — Oil Spills | 0.0038% | 0.002% — Outperformed | |
| ESG — Water Spills | 0.0045% | 0.002% — Outperformed | |
| ESG — TRIR | 0.65 | 0.57 — Outperformed | |
| Strategic/Discretionary | Various | Exceeded | Achieved >$250mm synergies vs $175mm target; other strategic goals |
AIP Design — 2025 Metrics and Weights (context for forward alignment)
| Category | Weight | Metric |
|---|---|---|
| Returns | 20% | All‑in Rate of Return |
| Free Cash Flow | 20% | Adjusted FCF/Share |
| Cost Structure | 15% | (LOE + Cash G&A)/Boe; D&C/ft |
| ESG (combined) | 10% | Flaring %, Oil/Water Spills %, TRIR |
| Strategic Initiatives & Discretionary | 35% | Committee‑determined vs goals |
2024 program shifted +5% weight to all‑in rate of return and reduced Strategic/Discretionary to 35% .
LTIP — 2024 Grants (RSUs and PSUs)
| Award | Grant Date | Shares/Units | Performance Period / Vesting | Grant‑Date Fair Value |
|---|---|---|---|---|
| RSU (time‑based) | 2/20/2024 | 50,740 | Vests in 3 equal annual installments | $732,686 |
| PSU (performance‑based) — Target | 2/20/2024 | 118,393 | Performance thru 12/31/2026; earned based on Relative TSR vs peer group and Absolute TSR multipliers | $2,937,330 |
| PSU — Max | 2/20/2024 | 355,179 | At maximum performance | — |
PSU payout mechanics (linear interpolation between points):
- Relative TSR: 85th percentile=200%; 50th=100%; 15th=15%; <15th=0% .
- Absolute TSR adjustment: >20%=150%; 15%=125%; 10%=100%; 5%=75%; ≤0%=50% .
Outstanding Equity at FY‑End 2024 (CFO)
| Type | Grant Date | Unvested/Unearned | Market/Payout Value | Notes |
|---|---|---|---|---|
| RS (time‑based) | 1/3/2023 | 67,742 | $974,130 | Vests per schedule below |
| RS (time‑based) | 2/20/2024 | 50,740 | $729,641 | Vests per schedule below |
| PSUs (max basis) | 2023 grant | 711,291 | $10,228,365 | Performance period ends 12/31/2025 |
| PSUs (max basis) | 2024 grant | 355,179 | $5,107,474 | Performance period ends 12/31/2026 |
Vesting schedule — Restricted Stock (by vesting date):
| Date | Shares |
|---|---|
| 1/3/2025 | 33,871 |
| 3/1/2025 | 16,913 |
| 1/3/2026 | 33,871 |
| 3/1/2026 | 16,913 |
| 3/1/2027 | 16,914 |
| Total | 118,482 |
Stock vested in 2024:
| Name | Shares Vested | Value Realized |
|---|---|---|
| Guy M. Oliphint | 33,871 | $468,775 |
The Outstanding Equity Awards table shows stock awards (restricted stock and PSUs); no stock option awards are listed for Mr. Oliphint at FY‑end 2024 .
Equity Ownership & Alignment
- Beneficial ownership: 168,346 shares of Class A common stock; less than 1% of voting power .
- Stock ownership guidelines: Executive Vice President multiple = 3x base salary; five‑year compliance window; officers not in compliance are restricted from sales until compliant . As of 12/31/2024, all officers and non‑employee directors were in compliance (met requirement or within transition period) .
- Anti‑hedging/pledging: Company policy prohibits hedging, pledging, short sales, derivatives, and margin accounts by directors/officers/employees and similar covered persons .
Employment Terms
- Employment agreements: None — PR does not have employment agreements with NEOs .
- Clawback: Adopted October 2023; in event of certain accounting restatements, recovers incentive‑based compensation paid during the prior three years in excess of restated amounts (pre‑tax) .
- Change‑in‑control (CIC) framework: Double‑trigger; CIC benefits require a qualifying termination following a CIC .
- Severance Plan: Company‑wide plan governs severance and overrides award‑level provisions where applicable . Estimated CFO payments (as of 12/31/2024; share price $14.38) :
| Category | CIC Termination | Termination Without Cause / For Good Reason | Death/Disability |
|---|---|---|---|
| Salary | $1,306,250 | — | — |
| Cash Bonus | $2,145,625 | — | — |
| Health & Outplacement | $72,263 | $72,263 | $72,263 |
| Accelerated Equity | $16,018,115 | $8,349,306 | $16,018,115 |
| Total | $19,542,253 | $8,421,569 | $16,090,378 |
Investment Implications
- Strong pay‑for‑performance alignment: AIP and LTIP designs tie a majority of CFO’s variable pay to capital efficiency, FCF/share, cost structure, ESG safety/environmental metrics, and multi‑year Relative/Absolute TSR; 2024 scorecard results were “Exceeded/Outperformed,” and 2025 weights emphasize returns/FCF/cost discipline (20%/20%/15%) with 35% strategic flexibility .
- Near‑term selling pressure watch: Time‑based RS tranches scheduled to vest across 2025–2027 (e.g., 33,871 on 1/3/2025; 16,913 on 3/1/2025; similar amounts through 2027), which can create periodic liquidity events; however, anti‑hedging/pledging rules and ownership‑guideline restrictions limit discretionary sales if not in compliance .
- Retention and CIC economics: Meaningful unvested equity and estimated CIC acceleration ($16.0m accelerated equity; total $19.5m under CIC termination) create retention hooks but also classical CIC payout sensitivity; double‑trigger structure mitigates windfall risk absent termination .
- Ownership alignment: Beneficial ownership is modest in percentage terms (<1%), but program design requires 3x salary ownership for EVP‑level officers and prohibits hedging/pledging, supporting alignment and reducing risk signals from leverage or collars .
- Execution track record: 2024 strategic achievements included ~$250m synergy capture vs $175m target, improved cost structure, and capital allocation (revised return of capital framework), evidencing operational and financial discipline during the Earthstone integration period — positive for CFO credibility and estimate confidence .