WATTS MARCUS A 4

What Happened

• Marcus A. Watts, a director of Devon Energy (DVN), was credited with 55,734 shares (reported as an award/acquisition) on May 7, 2026. No per‑share price or dollar value is reported; the filing lists these as shares acquired via award/conversion, not an open‑market purchase or sale.
• The filing states that 51,756 of those shares were restricted stock units that were converted from vested, deferred Coterra RSU awards in connection with the Devon–Coterra merger. The filing does not specify the source of the remaining shares in detail.

Key Details

• Transaction date: May 7, 2026 (Effective Time of the merger conversions).
• Amount reported: 55,734 shares (award/acquisition). Price per share: N/A; dollar value not provided in the Form 4.
• Filing date / accession: Form 4 filed May 11, 2026 (filed within the normal 2-business‑day reporting window for a May 7 transaction).
• Ownership after transaction: Not specified in the filing.
• Notable footnotes:
  • F1: Under the merger agreement, each Coterra share was converted into the right to receive 0.7 shares of Devon common stock (with certain exceptions).
  • F2: The 55,734 total includes 51,756 Devon RSUs that were converted, on the same terms, from vested deferred Coterra RSU awards using the 0.7 exchange ratio.

Context

• These were merger‑related award conversions (not purchases or sales). Converted RSUs typically remain subject to the original vesting/deferral terms; they do not necessarily represent newly purchased shares or immediate liquidity.
• For retail investors: merger conversions and award grants are routine administrative outcomes of corporate transactions and do not, by themselves, signal insider buying or selling intent.