Conaway Gregory F 4

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.