Coterra VP Conaway disposes 26,230 shares in merger
Coterra Energy Inc. Vice President & CAO Gregory F. Conaway reported a disposition of 26,230 shares of Coterra common stock back to the issuer in connection with a merger with Devon Energy Corporation.
Rhea-AI Filing Summary
Coterra Energy Inc. Vice President & CAO Gregory F. Conaway reported a disposition of 26,230 shares of Coterra common stock back to the issuer in connection with a merger with Devon Energy Corporation. At the merger’s effective time, each Coterra share was converted into the right to receive 0.7 shares of Devon common stock, including shares underlying time-vesting restricted stock unit awards. Following this conversion-related disposition, Conaway reported holding 0 shares of Coterra common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
Disposition: 26,230 shares
Disposition
1 txn
Insider
Conaway Gregory F
Role
Vice President & CAO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Common Stock | 26,230 | $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 26,230 shares of Issuer Common Stock subject to awards of time-vesting restricted stock units ("Issuer RSU Awards") held by the Reporting Person that, as of the Effective Time, were converted, on the same terms and conditions, into time-based 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 Issuer RSU Awards as of immediately prior to the Effective Time, multiplied by (ii) 0.7.
Key Figures
Shares disposed: 26,230 shares
Conversion ratio: 0.7 shares
Price per share: $0.00 per share
+2 more
5 metrics
Shares disposed
26,230 shares
Disposition to issuer of Coterra common stock
Conversion ratio
0.7 shares
Each Coterra share converts into 0.7 Devon shares
Price per share
$0.00 per share
Reported for the disposition to issuer
Holdings after transaction
0 shares
Coterra common stock reported after disposition
RSU-related shares
26,230 shares
Coterra RSU awards converted to Devon RSU awards using 0.7 factor
Key Terms
Agreement and Plan of Merger, Effective Time, restricted stock units, Disposition to issuer, +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.
restricted stock units financial
"shares of Issuer Common Stock subject to awards of time-vesting restricted stock units..."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Disposition to issuer financial
"transaction_code_description": "Disposition to issuer""
Devon Common Stock financial
"was converted into the right to receive 0.7 shares of Devon common stock..."
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Coterra (CTRA) report for Gregory F. Conaway?
Gregory F. Conaway, Coterra’s Vice President & CAO, reported disposing of 26,230 shares of Coterra common stock back to the issuer. The transaction occurred at a reported price of $0.00 per share in connection with Coterra’s merger with Devon Energy Corporation.
Was Gregory F. Conaway’s Coterra (CTRA) transaction an open-market sale?
No, the Form 4 describes the transaction as a “Disposition to issuer,” not an open-market sale. The shares were surrendered back to Coterra as part of the merger process with Devon Energy, rather than being sold on a stock exchange.
What is Gregory F. Conaway’s reported Coterra (CTRA) holding after this Form 4 transaction?
After the merger-related disposition, Gregory F. Conaway reported holding 0 shares of Coterra common stock. His economic interest shifted to rights over Devon common stock and Devon-based restricted stock units under the stated 0.7-for-1 conversion terms.
How were Gregory F. Conaway’s Coterra (CTRA) RSU awards treated in the Devon merger?
Time-vesting Coterra restricted stock unit awards held by Gregory F. Conaway were converted into Devon restricted stock unit awards. The number of Devon RSUs was calculated by multiplying the Coterra RSU share count by the 0.7 Coterra-to-Devon conversion ratio at the merger’s effective time.
AI-generated analysis. How Rhea-AI works. Not financial advice.
