Conaway Gregory F 4

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.