Young, III Shannon E. 4

What Happened

• Shannon E. Young, III, EVP and CFO of Devon Energy (DVN), was credited with a total of 323,480 Devon restricted stock units (RSUs) on May 7, 2026. These RSUs reflect conversion of various Coterra awards into Devon RSUs as part of Devon’s merger with Coterra. The filing shows four award-line items: 129,490; 96,995; 48,197; and 48,798 RSUs. No dollar price per share is reported (transaction code A — Award/Grant).

Key Details

• Transaction date: May 7, 2026. Form filed: May 11, 2026 (timely under Form 4 rules).
• Award totals: 129,490; 96,995; 48,197; 48,798 — aggregate 323,480 Devon RSUs.
• Vesting notes: two line items specify vesting — 48,197 RSUs vest on Jan 31, 2029; 48,798 RSUs vest on Jan 31, 2028. (Other items are conversion of performance/time-based awards per footnotes.)
• Footnotes: awards result from the February 1, 2026 merger agreement — each Coterra share converted into 0.7 Devon shares; certain Coterra performance stock units (PSUs) were certified as earned at 100% and converted into Devon RSUs.
• Shares owned after transaction: not stated in the filing.
• Transaction code: A = Award/Grant. Not a market purchase or sale.

Context

• These are converted/awarded RSUs tied to the merger and, for some awards, to future vesting dates — they are not an immediate open-market purchase or sale and may have limited near-term liquidity.
• Some converted awards were performance-based and were deemed earned at 100% prior to conversion; that determined the number of Devon RSUs issued.
• This filing documents an equity award conversion due to an M&A event rather than an insider buying or selling for investment reasons.