Vela Adam M 4

What Happened

• Adam M. Vela, Senior Vice President and General Counsel of Devon Energy (DVN), was credited with four awards (transaction code A) on May 7, 2026 totaling 154,882 Devon restricted stock units (RSUs): 48,560; 53,161; 27,542; and 25,619 shares. No cash price is reported (N/A) because these RSUs were received via conversion under the merger agreement with Coterra.

Key Details

• Transaction date filed: May 7, 2026 (Form 4 filed May 11, 2026 — within the two-business-day filing window).
• Transaction type: A = Award/Grant (conversion of Coterra equity awards into Devon RSUs).
• Share counts converted: 48,560; 53,161; 27,542; 25,619 (total 154,882 Devon RSUs).
• Prices / consideration: N/A — awards were converted per the merger terms, not bought or sold on market.
• Shares owned after transaction: Not specified in the filing.
• Notable footnotes: The conversions occurred at the effective time of Devon’s merger with Coterra; each Coterra share was converted into 0.7 Devon shares. Certain Coterra time‑based RSUs and performance stock units (PSUs) were converted into Devon RSUs; the PSUs were certified at 100% of target before conversion.

Context

• These were merger-related award conversions (not open-market buys or sales). Two converted awards have specified vesting: the 27,542 Devon RSUs (from a 2/24/2026 Coterra PSU grant) vest on Jan 31, 2029; the 25,619 Devon RSUs (from a 2/19/2025 Coterra RSU grant) vest on Jan 31, 2028. The filing notes the PSU award was deemed earned at 100% prior to conversion. This type of transaction reflects corporate restructuring of compensation in a merger, rather than an insider buying or selling shares.