DEVON ENERGY CORP/DE 4

What Happened
Devon Energy Corporation (reported as a 10% owner via its indirect subsidiary Devon WB Holdco L.L.C.) redeemed 1,755,174 OpCo units and converted/cancelled corresponding Class B shares into 1,755,174 Class A shares, then sold those Class A shares in an open-market Rule 144 transaction. The sale price was $30.05 per share, generating gross proceeds of $52,742,979. The filing shows conversion/disposition entries at $0 reflecting the unit-to-share conversion and cancellation steps.

Key Details

• Transaction date: June 22, 2026 (Form 4 filed June 24, 2026). Filing appears timely.
• Sale: 1,755,174 Class A shares sold on open market at $30.05 each; proceeds $52,742,979.
• Conversions/redeem: 1,755,174 OpCo Units redeemed and equal number of Class B shares cancelled and converted into 1,755,174 Class A shares (recorded as conversion/other disposition at $0).
• Shares owned after transaction: not specified in the excerpt of this filing (filing reports the redeemed/converted units and the sale).
• Footnotes: sale executed under Rule 144 through a broker-dealer (F1); Devon’s ownership is indirect via subsidiaries and is reported as a 10% owner (F2); OpCo Units can generally be redeemed one-for-one for Class A Shares subject to OpCo LLCA terms (F3).

Context
This was an institutional affiliate sale following the redemption/conversion of limited‑partner units into common Class A shares and an immediate open‑market sale. As a 10% owner (institutional structure), this transaction reflects affiliate liquidity and the mechanics of unit conversion and Rule 144 resale rather than an individual executive buying or selling.