JORDEN THOMAS E 4

What Happened

• Thomas E. Jorden, a director of Devon Energy (DVN), was reported as acquiring a total of 2,613,709 Devon shares/RSUs on May 7, 2026. The filing shows four acquisition entries: 2,092,861; 260,424; 126,230; and 134,194 (all reported with price N/A). These acquisitions were not open-market purchases or sales but conversions/awards resulting from the Devon–Coterra merger effective May 7, 2026.

Key Details

• Transaction date: May 7, 2026. Transaction code: A (award/grant/acquisition). Price per share: N/A; total dollar value not disclosed.
• Reported amounts acquired: 2,092,861; 260,424; 126,230; 134,194 (total 2,613,709).
• Vesting/award specifics: 126,230 Devon RSUs (from a Coterra award) will vest January 31, 2029; 134,194 Devon RSUs (from a Coterra award) will vest January 31, 2028. One PSU award was deemed earned at 100% and converted into Devon RSUs at the merger.
• Shares owned after the transaction: Not specified in the Form 4 filing.
• Filing timeliness: Reported on May 11, 2026. This appears timely under the two-business-day Form 4 rule for a May 7 transaction.

Context

• These acquisitions arose from the Agreement and Plan of Merger between Devon and Coterra: at the Effective Time each share of Coterra common stock and outstanding Coterra RSUs/PSUs converted into the right to receive Devon common stock or Devon RSUs (conversion ratio cited in the merger was 0.7). One performance-based Coterra PSU award was certified as earned at 100% and converted into Devon RSUs on the same terms (except for continuing vesting conditions).
• This is an award/conversion tied to a corporate merger (not an open-market buy or sale). Such conversion awards reflect treatment of pre-merger equity and do not by themselves indicate an insider buying or selling for market reasons.