Conaway Gregory F 4
4 · Coterra Energy Inc. · Filed May 11, 2026
Research Summary
AI-generated summary of this filing
Coterra VP Gregory Conaway Disposes 26,230 Shares in Merger
What Happened
- Gregory F. Conaway, Vice President & CAO of Coterra Energy (CTRA), reported a disposition of 26,230 shares on 2026-05-07. The Form 4 shows the disposition to the issuer with a reported price/value of $0 — this reflects a non‑cash conversion tied to the company’s merger with Devon Energy, not an open-market sale.
Key Details
- Transaction date: 2026-05-07; Form 4 filed: 2026-05-11 (filed 4 days after the transaction; note the Form 4 2-business-day filing requirement).
- Shares disposed: 26,230; reported dollar amount: $0 (non-cash merger conversion).
- Footnote summary:
- F1: Under the merger agreement effective at the closing, each Coterra share outstanding was converted into the right to receive 0.7 shares of Devon common stock.
- F2: The 26,230 amount includes time-vesting restricted stock units (RSUs) that were converted into comparable Devon RSU awards on a 0.7-for-1 basis.
- Shares owned after the transaction: not detailed in the provided filing.
Context
- This is a merger-related disposition/conversion (corporate transaction), not an open-market sale; the $0 reported value reflects share conversion into Devon stock rather than cash proceeds.
- For retail investors: merger conversions are routine and reflect deal mechanics (exchange ratios, RSU conversions) rather than an insider signaling buy/sell sentiment.
Insider Transaction Report
Form 4Exit
Conaway Gregory F
Vice President & CAO
Transactions
- Disposition to Issuer
Common Stock
[F1][F2]2026-05-07−26,230→ 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 26,230 shares of Issuer Common Stock subject to awards of time-vesting restricted stock units ("Issuer RSU Awards") held by the Reporting Person that, as of the Effective Time, were converted, on the same terms and conditions, into time-based 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 Issuer RSU Awards as of immediately prior to the Effective Time, multiplied by (ii) 0.7.
Signature
/s/ Marcus G. Bolinder, attorney-in-fact|2026-05-11