CALGARY, AB, April 11, 2025 /CNW/ – MEG Energy Corp. (TSX: MEG) (“MEG” or the “Corporation“) announces that it has approved an amendment to its Restricted Share Unit Plan (the “Plan“) to reduce the aggregate number of common shares available to be issued under the Plan to a rolling 4% of our outstanding common shares (the “Amendment“). The Amendment has been enacted in order to ensure that the aggregate shareholder value transfer (“SVT“) under the Plan does not exceed the SVT benchmark as recently recommended by Institutional Shareholder Services (“ISS“). The Amendment will be voted upon at the upcoming annual meeting of the shareholders of MEG to be held at 1:00 pm MDT on May 6, 2025.
As discussed in the “Compensation Discussion and Analysis” section of our information circular dated March 17, 2025, MEG’s Human Resources and Compensation Committee is focused on delivering a compensation program that supports a “pay for performance” culture that creates alignment with shareholders.
MEG believes the Plan, as amended, is consistent with ISS guidelines and encourages shareholders to vote FOR the resolution approving the amendment to the Plan.
About MEG
MEG is an energy company focused on in situ thermal oil production in the southern Athabasca oil region of Alberta, Canada. MEG is actively developing enhanced oil recovery projects that utilize steam-assisted gravity drainage extraction methods to improve the economic recovery of oil. MEG transports and sells thermal oil (AWB) to customers throughout North America and internationally. MEG is a member of the Pathways Alliance, a group of Canada’s largest oil sands producers. MEG’s common shares are listed on the Toronto Stock Exchange under the symbol “MEG” (TSX: MEG).
Learn more at www.megenergy.com
For further information, please contact:
Investor Relations
T 403.775.1131
E invest@megenergy.com
Media Relations
T 403.767.0515
E media@megenergy.com
SOURCE MEG Energy Corp.
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