Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | Matador Resources Company |
Entity Central Index Key | 0001520006 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Pay vs Performance Disclosure [Table] | |||
Pay vs Performance [Table Text Block] | PAY VERSUS PERFORMANCE As required by Section 953(a) of the Dodd-Frank Wall S-K, Discussion Year (a) Summary (1) (b) Compensation (2) (c) Average (3) (d) Average (4) (e) Value of Initial Fixed $100 Net Income (7) (h) Adj. EBITDA (8) (i) Total (5) (f) Peer Group (6) (g) 2022 $ 8,951,318 $ 21,872,248 $ 3,126,314 $ 7,943,940 $ 321.55 $ 196.87 $ 1,214,206 $ 2,127,156 2021 $ 9,057,189 $ 27,355,621 $ 4,310,734 $ 12,883,431 $ 206.28 $ 140.32 $ 584,968 $ 1,051,973 2020 $ 1,689,547 $ 4,092,405 $ 923,071 $ 2,032,796 $ 67.11 $ 102.23 ($ 593,205 ) $ 519,277 (1) The dollar amounts reported in column (b) are the amounts reported for Mr. Foran for each of the corresponding years in the “Total” column of the Summary Compensation Table. See “Executive Compensation—Summary Compensation Table”. (2) The dollar amounts reported in column (c) represent the amount of “compensation actually paid” to Mr. Foran, as computed in accordance with Item 402(v) of Regulation S-K accordance Compensation Actually Paid to PEO 2022 2021 2020 Summary Compensation Table Total $ 8,951,318 $ 9,057,189 $ 1,689,547 Less, value of “Stock Awards” and “Option Awards” reported in Summary Compensation Table ($ 4,472,369 ) ($ 5,203,040 ) ($ 651,373 ) Plus, year-end $ 5,546,099 $ 5,780,880 $ 4,828,763 Plus (less), year over year change in fair value of outstanding and unvested equity awards granted in prior years $ 4,006,795 $ 10,436,755 ($ 1,314,235 ) Plus (less), year over year change in fair value of equity awards granted in prior years that vested in the year $ 7,840,405 $ 7,283,836 ($ 460,297 ) Compensation Actually Paid to Mr. Foran $ 21,872,248 $ 27,355,621 $ 4,092,405 (3) The dollar amounts reported in column (d) represent the average of the amounts reported for the Named Executive Officers as a group (excluding Mr. Foran) in the “Total” column of the Summary Compensation Table in each applicable year. The names of each of the Named Executive Officers included for these purposes in each applicable year are as follows: (i) for 2022, Messrs. Goodwin, Singleton, Adams, Frenzel and Lancaster; and (ii) for 2021 and 2020, Messrs. Adams, Goodwin, Hairford and Lancaster. (4) The dollar amounts reported in column (e) represent the average amount of “compensation actually paid” to the Named Executive Officers as a group (excluding Mr. Foran), as computed in accordance with Item 402(v) of Regulation S-K. Average Compensation Actually Paid to Non-PEO Named Executive Officers 2022 2021 2020 Average Summary Compensation Table Total $ 3,126,314 $ 4,310,734 $ 923,071 Less, average value of Stock Awards reported in Summary Compensation ($ 1,490,775 ) ($ 2,433,680 ) ($ 301,262 ) Plus, average year-end $ 1,848,683 $ 2,703,960 $ 2,233,318 Plus (less), average year over year change in fair value of outstanding and unvested equity awards granted in prior years $ 1,750,284 $ 4,827,034 ($ 605,170 ) Plus (less), average year over year change in fair value of equity awards granted in prior years that vested in the year $ 2,709,434 $ 3,475,384 ($ 217,161 ) Average Compensation Actually Paid to Non-PEO $ 7,943,940 $ 12,883,431 $ 2,032,796 (5) Total Shareholder Return (“TSR”) is calculated by dividing (a) the sum of (i) the cumulative amount of dividends for the measurement period, assuming dividend reinvestment, and (ii) the difference between the Company’s share price at the end of each fiscal year shown and the beginning of the measurement period by (b) the Company’s share price at the beginning of the measurement period. The beginning of the measurement period for each year (6) The peer group used for this purpose is the following published industry index: Russell 2000 Energy Index. (7) The dollar amounts reported represent the amount of net income reflected in the Company’s audited financial statements for the applicable year. (8) We determined Adjusted EBITDA to be the most important financial performance measure used to link Company performance to Compensation Actually Paid to our PEO and Non-PEO non-GAAP | ||
Company Selected Measure Name | Adjusted EBITDA | ||
Named Executive Officers, Footnote [Text Block] | (3) The dollar amounts reported in column (d) represent the average of the amounts reported for the Named Executive Officers as a group (excluding Mr. Foran) in the “Total” column of the Summary Compensation Table in each applicable year. The names of each of the Named Executive Officers included for these purposes in each applicable year are as follows: (i) for 2022, Messrs. Goodwin, Singleton, Adams, Frenzel and Lancaster; and (ii) for 2021 and 2020, Messrs. Adams, Goodwin, Hairford and Lancaster. | ||
Peer Group Issuers, Footnote [Text Block] | The peer group used for this purpose is the following published industry index: Russell 2000 Energy Index. | ||
PEO Total Compensation Amount | $ 8,951,318 | $ 9,057,189 | $ 1,689,547 |
PEO Actually Paid Compensation Amount | $ 21,872,248 | 27,355,621 | 4,092,405 |
Adjustment To PEO Compensation, Footnote [Text Block] | (2) The dollar amounts reported in column (c) represent the amount of “compensation actually paid” to Mr. Foran, as computed in accordance with Item 402(v) of Regulation S-K accordance Compensation Actually Paid to PEO 2022 2021 2020 Summary Compensation Table Total $ 8,951,318 $ 9,057,189 $ 1,689,547 Less, value of “Stock Awards” and “Option Awards” reported in Summary Compensation Table ($ 4,472,369 ) ($ 5,203,040 ) ($ 651,373 ) Plus, year-end $ 5,546,099 $ 5,780,880 $ 4,828,763 Plus (less), year over year change in fair value of outstanding and unvested equity awards granted in prior years $ 4,006,795 $ 10,436,755 ($ 1,314,235 ) Plus (less), year over year change in fair value of equity awards granted in prior years that vested in the year $ 7,840,405 $ 7,283,836 ($ 460,297 ) Compensation Actually Paid to Mr. Foran $ 21,872,248 $ 27,355,621 $ 4,092,405 | ||
Non-PEO NEO Average Total Compensation Amount | $ 3,126,314 | 4,310,734 | 923,071 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 7,943,940 | 12,883,431 | 2,032,796 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | (4) The dollar amounts reported in column (e) represent the average amount of “compensation actually paid” to the Named Executive Officers as a group (excluding Mr. Foran), as computed in accordance with Item 402(v) of Regulation S-K. Average Compensation Actually Paid to Non-PEO Named Executive Officers 2022 2021 2020 Average Summary Compensation Table Total $ 3,126,314 $ 4,310,734 $ 923,071 Less, average value of Stock Awards reported in Summary Compensation ($ 1,490,775 ) ($ 2,433,680 ) ($ 301,262 ) Plus, average year-end $ 1,848,683 $ 2,703,960 $ 2,233,318 Plus (less), average year over year change in fair value of outstanding and unvested equity awards granted in prior years $ 1,750,284 $ 4,827,034 ($ 605,170 ) Plus (less), average year over year change in fair value of equity awards granted in prior years that vested in the year $ 2,709,434 $ 3,475,384 ($ 217,161 ) Average Compensation Actually Paid to Non-PEO $ 7,943,940 $ 12,883,431 $ 2,032,796 | ||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | |||
Compensation Actually Paid vs. Net Income [Text Block] | |||
Compensation Actually Paid vs. Company Selected Measure [Text Block] | |||
Total Shareholder Return Vs Peer Group [Text Block] | |||
Tabular List [Table Text Block] | Financial Performance Measures As described in greater detail under “Executive Compensation— Compensation executive pay-for-performance 1. Total Shareholder Return 2. Adjusted EBITDA 3. Net Debt / Adjusted EBITDA 4. Adjusted Free Cash Flow | ||
Total Shareholder Return Amount | $ 321.55 | 206.28 | 67.11 |
Peer Group Total Shareholder Return Amount | 196.87 | 140.32 | 102.23 |
Net Income (Loss) | $ 1,214,206,000 | $ 584,968,000 | $ (593,205,000) |
Company Selected Measure Amount | 2,127,156,000 | 1,051,973,000 | 519,277,000 |
PEO Name | Mr. Foran | ||
Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Total Shareholder Return | ||
Measure [Axis]: 2 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Adjusted EBITDA | ||
Non-GAAP Measure Description [Text Block] | We determined Adjusted EBITDA to be the most important financial performance measure used to link Company performance to Compensation Actually Paid to our PEO and Non-PEO non-GAAP | ||
Measure [Axis]: 3 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Net Debt / Adjusted EBITDA | ||
Measure [Axis]: 4 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Adjusted Free Cash Flow | ||
PEO [Member] | Value of Stock Awards and Option Awards [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ (4,472,369) | $ (5,203,040) | $ (651,373) |
PEO [Member] | Year End Fair Value of Outstanding and Unvested Equity Awards Granted in the Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 5,546,099 | 5,780,880 | 4,828,763 |
PEO [Member] | Year Over Year Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Years [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 4,006,795 | 10,436,755 | (1,314,235) |
PEO [Member] | Year Over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 7,840,405 | 7,283,836 | (460,297) |
Non-PEO NEO [Member] | Value of Stock Awards and Option Awards [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (1,490,775) | (2,433,680) | (301,262) |
Non-PEO NEO [Member] | Year End Fair Value of Outstanding and Unvested Equity Awards Granted in the Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 1,848,683 | 2,703,960 | 2,233,318 |
Non-PEO NEO [Member] | Year Over Year Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Years [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 1,750,284 | 4,827,034 | (605,170) |
Non-PEO NEO [Member] | Year Over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ 2,709,434 | $ 3,475,384 | $ (217,161) |