Devon director awarded 6,801 shares in merger
Devon Energy director Jacinto J. Hernandez acquired 6,801 shares of Devon common stock on May 7, 2026, reported as a grant or award at no cash cost per share.
Rhea-AI Filing Summary
Devon Energy director Jacinto J. Hernandez acquired 6,801 shares of Devon common stock on May 7, 2026, reported as a grant or award at no cash cost per share. After this equity award, he directly holds 6,801 Devon shares.
The footnotes explain that this equity position stems from Devon’s merger with Coterra Energy. Each Coterra common share was converted into the right to receive 0.7 Devon shares at the merger’s effective time. Of the reported holdings, 6,505 shares are tied to restricted stock unit awards that were converted from Coterra deferred RSU awards into Devon RSU-based shares on the same terms and conditions.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 6,801 shares
Grant/Award
1 txn
Insider
Hernandez Jacinto J
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 6,801 | $0.00 | $0.00 |
Holdings After Transaction:
Common Stock — 6,801 shares (Direct)
Footnotes (2)
- F1. 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.
- F2. This amount includes 6,505 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.
Key Figures
Shares acquired: 6,801 shares
Price per share: $0.00 per share
Post-transaction holdings: 6,801 shares
+2 more
5 metrics
Shares acquired
6,801 shares
Common stock grant on May 7, 2026
Price per share
$0.00 per share
Reported grant price for acquired shares
Post-transaction holdings
6,801 shares
Total Devon common shares directly held after transaction
RSU-related shares
6,505 shares
Devon shares subject to restricted stock unit awards
Merger exchange ratio
0.7 shares
Devon shares per Coterra common share and RSU in merger
Key Terms
Agreement and Plan of Merger, Effective Time, restricted stock unit awards, Coterra Deferred RSU Awards, +1 more
5 terms
Agreement and Plan of Merger financial
"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 financial
"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 unit awards financial
"includes 6,505 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
"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")"
grant, award, or other acquisition financial
"transaction code description: Grant, award, or other acquisition"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Devon Energy (DVN) report for Jacinto J. Hernandez?
Devon Energy reported that director Jacinto J. Hernandez acquired 6,801 shares of Devon common stock as a grant or award. The shares were received at no cash cost per share and are held directly following the completion of Devon’s merger with Coterra Energy.
Was the Devon Energy (DVN) insider transaction a market purchase or a grant?
The transaction was reported as an acquisition through a grant, award, or similar method, not an open-market purchase. The 6,801 Devon shares were received at a reported price of $0.00 per share, reflecting equity compensation tied to the completed Coterra merger.
AI-generated analysis. How Rhea-AI works. Not financial advice.
