Conaway Gregory F 4
4 · DEVON ENERGY CORP/DE · Filed May 11, 2026
Research Summary
AI-generated summary of this filing
Devon Energy (DVN) VP Gregory Conaway Receives 18,361-Unit RSU Award
What Happened
Gregory F. Conaway, Vice President and Chief Accounting Officer of Devon Energy (DVN), was granted/received 18,361 Devon restricted stock units (RSUs) on May 7, 2026 (reported on Form 4 with transaction code A). No dollar price or immediate cash value is reported (price: N/A); these RSUs are a converted award tied to previously outstanding Coterra RSUs and will vest on January 31, 2029.
Key Details
- Transaction date: May 7, 2026; Filing date: May 11, 2026.
- Transaction type/code: Award/Grant (A). Price per share: N/A; total reported value: N/A.
- Vesting: The 18,361 Devon RSUs will vest on January 31, 2029.
- Shares owned after transaction: Not specified in the reported items.
- Footnotes of note:
- F1: The grant resulted from the merger effective May 7, 2026, when Devon acquired Coterra and Coterra became a subsidiary of Devon.
- F2: Under the merger agreement, each time-based Coterra RSU converted into 0.7 Devon RSUs. The Coterra RSUs granted to Conaway on Feb 24, 2026 converted into these 18,361 Devon RSUs.
Context
This was not an open-market buy or sale but a conversion/award tied to a corporate merger — essentially a grant of time-based Devon RSUs replacing previously granted Coterra RSUs. Such awards are compensation/retention-driven and typically vest over time; they do not by themselves signal an immediate cash realization.
Insider Transaction Report
- Award
Common Stock
[F1][F2]2026-05-07+18,361→ 18,361 total
Footnotes (2)
- [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.
- [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's common stock, par value $0.10 per share, 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 18,361 Devon RSUs, which will vest on January 31, 2029.