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    Matthew J. Meloy

    Chief Executive Officer and Director at Targa Resources Corp
    Board
    Since March 1, 2020
    Age
    46 years
    Tenure
    Joined TRGP in March 2006, held multiple key positions including Director of Corporate Development, Vice President, CFO, and President, and has served as Chief Executive Officer and Director since March 1, 2020.

    Also at Targa Resources Corp

    DSP
    D. Scott Pryor
    President - Logistics and Transportation
    GCW
    G. Clark White
    EVP - Operations
    GRS
    Gerald R. Shrader
    EVP, General Counsel, and Secretary

    About

    Matthew J. Meloy has built an extensive career at Targa Resources Corp. starting in March 2006 when he joined as the Director of Corporate Development, and he has progressed through a series of critical leadership roles over the years.

    During his tenure at the company, he advanced from roles in finance and corporate development to positions such as Vice President — Finance and Treasurer, Senior Vice President, Chief Financial Officer, and President. His strategic leadership culminated in being named Chief Executive Officer and Director on March 1, 2020, reflecting his deep operational and strategic expertise.

    While personal background details remain limited, his long-standing association with TRGP and his demonstrated proficiency in financial management and capital markets have been instrumental in driving the company's growth. His professional journey, which also includes valuable experience at The Royal Bank of Scotland in the structured finance group, underscores a commitment to excellence and strategic innovation.

    $TRGP Performance Under Matthew J. Meloy

    Past Roles

    Organization Role Date Range Details
    Targa Resources Corp. (TRGP) President of the Company and the General Partner March 2018 - March 2020
    Targa Resources Corp. (TRGP) Executive Vice President and Chief Financial Officer of the Company and the General Partner May 2015 - February 2018
    Targa Resources Corp. (TRGP) Treasurer of the Company and the General Partner Until December 2015
    Targa Resources Corp. (TRGP) Senior Vice President, Chief Financial Officer, and Treasurer of the Company October 2010 - May 2015
    Targa Resources Corp. (TRGP) Vice President—Finance and Treasurer of the Company April 2008 - October 2010
    Targa Resources Corp. (TRGP) Director, Corporate Development March 2006 - March 2008
    The Royal Bank of Scotland Structured Finance Professional (focused on the energy sector) October 2003 - March 2006

    Fixed Compensation

    Data from  FY 2023
    Component NameAmountPayment ScheduleAdditional Details
    Salary$970,475 N/A [N/A]Base salary for 2023
    401(k) and Profit Sharing Plan Contributions$26,400 N/A Contributions made in 2023
    Life Insurance Premiums Paid by the Company$3,139 N/A Premiums paid in 2023

    Performance Compensation

    Data from  FY 2023

    Annual Incentive Bonus

    MetricValue and Details
    Target Bonus Percentage175% of base salary
    Target Bonus Amount$1,723,750
    Performance MetricsFinancial: Adjusted EBITDA, Distributable cash flow per share, % of G&P volumes with fees <br> Operational: Cost discipline, project and commercial execution <br> Sustainability: ESG factors <br> Safety: Holistic scorecard evaluating incident rates, severity, and process improvements
    Payment SchedulePer the 2023 Annual Incentive Compensation Program
    Vesting ScheduleNot applicable – cash awards under the 2010 Stock Incentive Plan
    Evaluation Period2023 performance period as defined in the program
    Additional DetailsCompensation approved by the Compensation Committee in March 2023

    Performance Share Units (PSUs)

    MetricValue and Details
    Grant DateJanuary 19, 2023
    Grant Date Fair Value$128.71 per unit
    Grant Date Stock Price (RSUs)$74.13 (RSU value; PSUs valued separately)
    Target PSUs Granted53,562 units
    Maximum PSUs (Cap)133,905 units
    Vesting DateDecember 31, 2025
    Performance MetricTotal Shareholder Return (TSR) relative to a comparator group (Alerian US Midstream Index)
    Payout ThresholdsBelow 25th percentile: 0% payout; 25th percentile: 50% payout; 55th percentile: 100% payout; 75th percentile or higher: 250% payout
    Additional DetailsIncludes Dividend Equivalent Rights (DERs) paid in cash upon vesting; payout interpolation applies