Eckley Paul 4

What Happened

• Paul Eckley (Director) reported a disposition of 85,361 Coterra (CTRA) shares on 2026-05-07. The Form 4 shows a $0.00 per-share price and $0 total proceeds because the shares were transferred to the issuer as part of Coterra’s merger with Devon Energy.
• Per the merger agreement, each CTRA share was converted into the right to receive 0.7 shares of Devon common stock — equal to roughly 59,753 Devon shares for the 85,361 CTRA shares. This was a corporate conversion, not an open-market sale.

Key Details

• Transaction date: 2026-05-07; Filing date: 2026-05-11 (Form 4 accession 0000858470-26-000155).
• Reported transaction type/code: Disposition to issuer (D); shares disposed: 85,361; price: $0.00; cash received: $0.
• Conversion/consideration: Each CTRA share converted into 0.7 Devon common shares (≈59,753 Devon shares total for this block), per the Agreement and Plan of Merger dated Feb 1, 2026 (footnote).
• Post-transaction CTRA holdings: the Form 4 reports these shares as disposed in the merger; it does not list remaining CTRA holdings on this filing.
• No indication in the filing of a 10b5-1 plan, tax withholding, or other routine sale mechanisms.

Context

• This was a corporate merger conversion — the shares were exchanged for Devon stock under the merger terms — and not a personal sale for cash. Such dispositions reflect corporate restructuring rather than an insider expressing a buy/sell view of the company.