Hernandez Jacinto J 4

What Happened
Director Jacinto J. Hernandez reported a disposition of 9,717 shares of Coterra common stock on May 7, 2026. The transaction shows $0 cash proceeds because the shares were converted as part of Coterra’s merger with Devon Energy — each Coterra share was converted into the right to receive 0.7 shares of Devon common stock under the merger agreement.

Key Details

• Transaction date: 2026-05-07; Form 4 filed: 2026-05-11 (filed within the usual 2-business-day SEC window).
• Reported disposition: 9,717 shares at $0.00 per share; total reported proceeds $0.
• Footnote F1: Under the merger agreement (Feb 1, 2026), each Coterra share was converted into the right to receive 0.7 Devon shares.
• Footnote F2: The 9,717 includes 9,293 shares that were deferred, vested restricted stock units (Deferred RSU Awards) that were converted into restricted stock units covering Devon shares equal to 0.7× the original Coterra shares.
• Shares owned after the transaction: not specified in the provided filing.

Context
This was not an open-market sale or a typical insider cash sale — the reporting person’s Coterra shares were converted into Devon consideration as part of the merger, which is a corporate reorganization rather than a trade that signals buying or selling intent. Deferred RSUs were treated similarly and converted into Devon RSUs on the same 0.7 exchange ratio.