Alexander Andrea 4
4 · DEVON ENERGY CORP/DE · Filed May 11, 2026
Research Summary
AI-generated summary of this filing
Devon Energy (DVN) SVP Alexander Andrea Receives 156,529 RSUs
What Happened
Alexander Andrea, Senior Vice President & Chief Administrative Officer of Devon Energy (DVN), was credited with four award transactions on May 7, 2026 totaling 156,529 Devon restricted stock units (RSUs). The four converted award amounts reported were 61,829; 47,350; 22,951; and 24,399 Devon RSUs. No cash price was paid (N/A) because these awards were conversions of Coterra awards under the merger rather than open-market purchases.
Key Details
- Transaction date: May 7, 2026; Form 4 filed May 11, 2026 (period of report: 2026-05-07). No late-filing indication in the provided data.
- Transaction code: A (award/grant/conversion). Price per share: N/A (conversion).
- Award breakdown: 61,829 RSUs; 47,350 RSUs; 22,951 RSUs; 24,399 RSUs — total 156,529 RSUs.
- Vesting: The 22,951 RSUs (from a Feb 24, 2026 award) vest on 1/31/2029; the 24,399 RSUs (from a Feb 19, 2025 award) vest on 1/31/2028. (Other converted awards relate to PSU awards deemed earned and converted.)
- Shares owned after transaction: Not disclosed in the supplied filing.
- Notable footnotes: These conversions occurred at the “Effective Time” of Devon’s merger with Coterra. Per the merger agreement, each Coterra share/award was converted into 0.7 Devon shares/RSUs (see footnotes). Some Coterra PSUs were certified as earned at 100% and converted into Devon RSUs.
Context
These were not open-market buys or sales but equity conversions tied to Devon’s acquisition of Coterra (merger conversion ratio 0.7). Some converted awards are time-based RSUs with future vesting dates (not immediately liquid); other converted awards came from performance stock units that were deemed earned and converted. Such merger-driven conversions reflect corporate action rather than a direct bullish or bearish trade by the insider.
Insider Transaction Report
- Award
Common Stock
[F1]2026-05-07+61,829→ 61,829 total - Award
Common Stock
[F2]2026-05-07+47,350→ 109,179 total - Award
Common Stock
[F3][F4]2026-05-07+22,951→ 132,130 total - Award
Common Stock
[F3][F5]2026-05-07+24,399→ 156,529 total
Footnotes (5)
- [F1]On May 7, 2026, pursuant to the Agreement and Plan of Merger entered into on February 1, 2026, by and among Devon Energy Corporation (''Devon''), Coterra Energy Inc. (''Coterra") and Cubs Merger Sub, Inc. (the ''Merger Agreement''), as of the effective time of the transactions contemplated thereby (the "Effective Time"), Coterra became a wholly owned subsidiary of Devon. Pursuant to the Merger Agreement, at the Effective Time, each share of Coterra's common stock, par value $0.10 per share ("Coterra Common Stock") was converted into the right to receive 0.7 shares of Devon's common stock, par value $0.10 per share ("Devon Common Stock"), subject to certain exceptions.
- [F2]Pursuant to the Merger Agreement, at the Effective Time, each time-based Coterra restricted stock unit ("Coterra RSU") outstanding and unvested as of immediately prior to the Effective Time was converted into 0.7 Devon time-based restricted stock units ("Devon RSUs"), with each Devon RSU representing a contingent right to receive a share of Devon Common Stock, subject to the same terms and conditions as were applicable to the corresponding Coterra RSU immediately prior to the Effective Time. The Coterra RSUs granted to the reporting person on February 24, 2026 were converted into 22,951 Devon RSUs, which will vest on January 31, 2029, and the Coterra RSUs granted to the reporting person on February 19, 2025 were converted into 24,399 Devon RSUs, which will vest on January 31, 2028.
- [F3]These Devon RSUs relate to an award of Coterra performance stock units (a "Coterra PSU Award") that, pursuant to the Merger Agreement, at the Effective Time, was deemed earned at 100% of the target level as a result of the certification by the Compensation Committee of Coterra's board of directors to the actual level of performance achieved under the terms of such Coterra PSU Award prior to the Effective Time and was converted, on the same terms and conditions (other than any continuing performance-based vesting conditions and cash settlement features), into an award of Devon RSUs covering a number of shares of Devon Common Stock equal to the product of (i) the target number of shares of Coterra Common Stock subject to such Coterra PSU Award as of immediately prior to the Effective Time, multiplied by (ii) 0.7.
- [F4]The Coterra PSU Award to which these Devon RSUs relate was granted to the reporting person on February 24, 2026 and, at the Effective Time, converted into 22,951 Devon RSUs, which will vest on January 31, 2029.
- [F5]The Coterra PSU Award to which these Devon RSUs relate was granted to the reporting person on February 19, 2025 and, at the Effective Time, converted into 24,399 Devon RSUs, which will vest on January 31, 2028.