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Devon Energy (NYSE: DVN) director gets 55,734 shares via Coterra deal

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Devon Energy director Amanda M. Brock acquired 55,734 shares of Devon common stock as a grant/award. The Form 4 shows this acquisition at a price of $0.00 per share, reflecting equity converted in connection with Devon’s merger with Coterra Energy.

The total includes 34,541 shares tied to restricted stock unit awards that were converted from Coterra deferred RSU awards using a 0.7 exchange ratio. Following this transaction, Brock directly holds 55,734 Devon shares.

Positive

  • None.

Negative

  • None.
Insider Brock Amanda M
Role null
Type Security Shares Price Value
Grant/Award Common Stock 55,734 $0.00 --
Holdings After Transaction: Common Stock — 55,734 shares (Direct, null)
Footnotes (1)
  1. On May 7, 2026, pursuant to the Agreement and Plan of Merger entered into on February 1, 2026, by and among Devon Energy Corporation (''Devon''), Coterra Energy Inc. (''Coterra") and Cubs Merger Sub, Inc., as of the effective time of the transactions contemplated thereby (the "Effective Time"), each share of Coterra's common stock, par value $0.10 per share ("Coterra Common Stock") was converted into the right to receive 0.7 shares of Devon's common stock, par value $0.10 per share ("Devon Common Stock"), subject to certain exceptions. This amount includes 34,541 shares of Devon Common Stock subject to restricted stock unit awards that, as of the Effective Time, were converted, on the same terms and conditions, from the corresponding deferred awards of vested restricted stock units relating to Coterra Common Stock ("Coterra Deferred RSU Awards") held by the reporting person 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 Coterra Common Stock subject to such Coterra Deferred RSU Awards as of immediately prior to the Effective Time, multiplied by (ii) 0.7.
Shares acquired 55,734 shares Common stock grant/award on May 7, 2026
Price per share $0.00 per share Grant/award acquisition of Devon common stock
Post-transaction holdings 55,734 shares Total Devon shares directly held after transaction
RSU-related shares 34,541 shares Devon shares from converted Coterra deferred RSU awards
Exchange ratio 0.7 Devon shares per Coterra share or RSU at effective time
Transaction code A Grant, award, or other acquisition of common stock
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.
restricted stock unit awards financial
"includes 34,541 shares of Devon Common Stock subject to restricted stock unit awards"
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.
Coterra Deferred RSU Awards financial
"from the corresponding deferred awards of vested restricted stock units relating to Coterra Common Stock ("Coterra Deferred RSU Awards")"
Effective Time regulatory
"as of the effective time of the transactions contemplated thereby (the "Effective Time")"
exchange ratio financial
"equal to the product of (i) the total number of shares ... multiplied by (ii) 0.7"
The exchange ratio is the number used to decide how many shares of one company you get for each share you own in another company during a merger or acquisition. It’s like a recipe that tells you how to swap shares fairly, ensuring both companies’ values are balanced. This ratio matters because it determines how ownership divides between the companies' shareholders.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Brock Amanda M
(Last)(First)(Middle)
THREE MEMORIAL CITY PLAZA
840 GESSNER ROAD, SUITE 1400
(Street)
HOUSTON TEXAS 77024
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
DEVON ENERGY CORP/DE [ DVN ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
05/07/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Common Stock(1)05/07/2026A55,734(2)A(1)55,734D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. On May 7, 2026, pursuant to the Agreement and Plan of Merger entered into on February 1, 2026, by and among Devon Energy Corporation (''Devon''), Coterra Energy Inc. (''Coterra") and Cubs Merger Sub, Inc., as of the effective time of the transactions contemplated thereby (the "Effective Time"), each share of Coterra's common stock, par value $0.10 per share ("Coterra Common Stock") was converted into the right to receive 0.7 shares of Devon's common stock, par value $0.10 per share ("Devon Common Stock"), subject to certain exceptions.
2. This amount includes 34,541 shares of Devon Common Stock subject to restricted stock unit awards that, as of the Effective Time, were converted, on the same terms and conditions, from the corresponding deferred awards of vested restricted stock units relating to Coterra Common Stock ("Coterra Deferred RSU Awards") held by the reporting person 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 Coterra Common Stock subject to such Coterra Deferred RSU Awards as of immediately prior to the Effective Time, multiplied by (ii) 0.7.
/s/ Edward T. Highberger, attorney-in-fact05/11/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did Devon Energy (DVN) director Amanda M. Brock report on this Form 4?

Amanda M. Brock reported receiving 55,734 shares of Devon Energy common stock as a grant/award at $0.00 per share. The shares reflect equity converted in connection with Devon’s merger with Coterra Energy under a previously agreed exchange ratio.

How many Devon Energy (DVN) shares does Amanda M. Brock hold after this transaction?

After the reported transaction, Amanda M. Brock directly holds 55,734 shares of Devon Energy common stock. This entire amount stems from the grant/award recorded on May 7, 2026, following the closing mechanics of Devon’s merger with Coterra Energy.

What portion of Amanda M. Brock’s Devon (DVN) holdings comes from restricted stock unit conversions?

Of the 55,734 Devon shares reported, 34,541 shares relate to restricted stock unit awards. These RSUs were converted from Coterra deferred RSU awards into Devon RSU-based shares using the 0.7 exchange ratio specified in the merger agreement.

How were Coterra Energy shares converted into Devon Energy (DVN) shares for this Form 4?

Each share of Coterra common stock was converted into the right to receive 0.7 shares of Devon common stock at the merger’s effective time. This 0.7 exchange ratio also applied to the Coterra deferred RSU awards held by Amanda M. Brock.

Was Amanda M. Brock’s Devon (DVN) share acquisition an open-market purchase?

No, the acquisition was coded as a grant/award, not an open-market purchase. The 55,734 shares, including RSU-based shares, were issued at $0.00 per share as part of equity conversions tied to Devon’s merger with Coterra Energy.