Coterra director disposes 9,717 shares in Devon merger
Coterra Energy Inc. director Jacinto J. Hernandez reported a disposition of 9,717 shares of Coterra common stock back to the company.
Rhea-AI Filing Summary
Coterra Energy Inc. director Jacinto J. Hernandez reported a disposition of 9,717 shares of Coterra common stock back to the company. This issuer disposition occurred in connection with a merger under which each Coterra share was converted into the right to receive 0.7 shares of Devon Energy common stock.
The footnotes explain that this treatment also applied to 9,293 Coterra shares subject to vested deferred restricted stock unit awards, which were converted into Devon restricted stock unit awards based on the same 0.7 exchange ratio. Following the transaction, the filing shows Hernandez with no remaining directly held Coterra common shares.
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Insider Trade Summary
Disposition: 9,717 shares
Disposition
1 txn
Insider
Hernandez Jacinto J
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Common Stock | 9,717 | $0.00 | $0.00 |
Holdings After Transaction:
Common Stock — 0 shares (Direct)
Footnotes (2)
- F1. Pursuant to the Agreement and Plan of Merger entered into on February 1, 2026, by and among the Issuer, Devon Energy Corporation ("Devon") and Cubs Merger Sub, Inc., as of the effective time of the transactions contemplated thereby (the "Effective Time"), each share of the Issuer's common stock, par value $0.10 per share ("Issuer Common Stock"), held by the Reporting Person as of immediately prior to the Effective Time was converted into the right to receive 0.7 shares of Devon common stock, par value $0.10 per share ("Devon Common Stock").
- F2. This amount includes 9,293 shares of Issuer Common Stock subject to deferred awards of vested restricted stock units ("Deferred RSU Awards") held by the Reporting Person that, as of the Effective Time, were converted, on the same terms and conditions, into restricted stock unit awards covering a total number of shares of Devon Common Stock equal to the product of (i) the total number of shares of Issuer Common Stock subject to such Deferred RSU Awards as of immediately prior to the Effective Time, multiplied by (ii) 0.7.
Key Figures
Shares disposed: 9,717 shares
Price per share: $0.00 per share
Post-transaction holdings: 0 shares
+2 more
5 metrics
Shares disposed
9,717 shares
Disposition of Coterra common stock to issuer
Price per share
$0.00 per share
Stated transaction price for disposition to issuer
Post-transaction holdings
0 shares
Total Coterra common shares directly held after transaction
Merger exchange ratio
0.7 shares
Each Coterra share converted into 0.7 Devon shares
Deferred RSU underlying shares
9,293 shares
Coterra shares subject to deferred vested RSU awards
Key Terms
Agreement and Plan of Merger, Effective Time, Deferred RSU Awards, restricted stock unit awards, +1 more
5 terms
Agreement and Plan of Merger regulatory
"Pursuant to the Agreement and Plan of Merger entered into on February 1, 2026..."
An Agreement and Plan of Merger is a formal document where two companies agree to combine into one, outlining how the process will happen. It’s like a step-by-step plan for merging, and it matters because it shows both sides have agreed on the details before the official transition takes place.
Effective Time regulatory
"as of the effective time of the transactions contemplated thereby (the "Effective Time")..."
The exact clock time when a regulatory filing, approval, or corporate action formally becomes legally active; from that moment the change is binding and can be acted on. Investors care because the effective time marks when ownership, rights, trading rules, or new securities take effect — like a light switch turning on a contract or transaction — which determines when risks, benefits and market reactions begin.
Deferred RSU Awards financial
"This amount includes 9,293 shares of Issuer Common Stock subject to deferred awards of vested restricted stock units ("Deferred RSU Awards")..."
restricted stock unit awards financial
"were converted, on the same terms and conditions, into restricted stock unit awards covering a total number of shares of Devon Common Stock..."
Restricted stock unit awards are company promises to deliver a specific number of shares to employees or service providers in the future once conditions—such as staying with the company for a set time or meeting performance targets—are met. They matter to investors because when the promises convert into actual shares they increase the total share count and can reduce earnings per share, while also aligning recipients’ interests with stock performance much like deferred pay that turns into ownership if goals are met.
Issuer Common Stock financial
"each share of the Issuer's common stock, par value $0.10 per share ("Issuer Common Stock")..."
FAQ
What insider transaction did Coterra Energy (CTRA) report for Jacinto J. Hernandez?
Coterra Energy director Jacinto J. Hernandez reported disposing of 9,717 shares of Coterra common stock to the issuer. The disposition reflects shares converted as part of a merger transaction, rather than an open-market sale, and resulted in no directly held Coterra shares remaining.
What merger is referenced in the Coterra Energy (CTRA) Form 4 footnotes?
The footnotes describe an Agreement and Plan of Merger among Coterra Energy, Devon Energy Corporation and Cubs Merger Sub, Inc. At the effective time, each Coterra common share was converted into the right to receive 0.7 shares of Devon common stock under the merger terms.
How were Hernandez’s Coterra (CTRA) deferred RSU awards treated in the merger?
The filing notes 9,293 Coterra shares subject to deferred vested restricted stock units held by Hernandez. At the merger’s effective time, these awards were converted into Devon restricted stock units covering a number of Devon shares equal to the Coterra shares multiplied by the 0.7 exchange ratio.
Does Hernandez hold any Coterra Energy (CTRA) common stock after this Form 4 transaction?
According to the Form 4, total shares of Coterra common stock directly held by Hernandez following the transaction are reported as 0. This reflects the merger-related conversion of his Coterra holdings and deferred RSU shares into corresponding Devon Energy equity interests.
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