WATTS MARCUS A 4
4 · Coterra Energy Inc. · Filed May 11, 2026
Research Summary
AI-generated summary of this filing
Coterra (CTRA) Director Marcus Watts Converts Shares in Devon Merger
What Happened
Marcus A. Watts, a director of Coterra Energy Inc. (CTRA), recorded a disposition-to-issuer on 2026-05-07 of 79,621 CTRA shares. The filing shows $0.00 proceeds because the shares were converted into Devon Energy Corporation stock under the parties’ merger agreement rather than sold for cash. Under the deal each CTRA share converts into 0.7 shares of Devon common stock (79,621 × 0.7 ≈ 55,735 Devon shares). The reported 79,621 shares include 73,937 shares that were deferred vested RSU awards converted into equivalent Devon RSU awards.
Key Details
- Transaction date: 2026-05-07; Form 4 filed: 2026-05-11 (timely filing).
- Transaction code: D (Disposition to issuer); reported price: $0.00; reported cash proceeds: $0.
- Shares affected: 79,621 CTRA shares disposed/converted.
- Conversion ratio: 0.7 Devon shares per CTRA share → ~55,735 Devon shares receivable.
- Footnote: Includes 73,937 CTRA shares subject to deferred vested RSUs that converted into Devon RSU awards on the same terms.
- Post-transaction holdings of Devon stock (or continued holdings of CTRA) are not specified in the Form 4.
Context
This was a merger-related conversion (not an open-market sale), so the entry reflects issuance/conversion mechanics under the merger agreement rather than trading intent. For retail investors, such filings document how insiders' CTRA holdings were treated in the transaction — they were converted into Devon shares/RSUs per the agreed exchange ratio.
Insider Transaction Report
- Disposition to Issuer
Common Stock
[F1][F2]2026-05-07−79,621→ 0 total
Footnotes (2)
- [F1]Pursuant to the Agreement and Plan of Merger entered into on February 1, 2026, by and among the Issuer, Devon Energy Corporation ("Devon") and Cubs Merger Sub, Inc., as of the effective time of the transactions contemplated thereby (the "Effective Time"), each share of the Issuer's common stock, par value $0.10 per share ("Issuer Common Stock"), held by the Reporting Person as of immediately prior to the Effective Time was converted into the right to receive 0.7 shares of Devon common stock, par value $0.10 per share ("Devon Common Stock").
- [F2]This amount includes 73,937 shares of Issuer Common Stock subject to deferred awards of vested restricted stock units ("Deferred RSU Awards") held by the Reporting Person that, as of the Effective Time, were converted, on the same terms and conditions, into restricted stock unit awards covering a total number of shares of Devon Common Stock equal to the product of (i) the total number of shares of Issuer Common Stock subject to such Deferred RSU Awards as of immediately prior to the Effective Time, multiplied by (ii) 0.7.