Devon director granted 55,734 shares post‑merger
Devon Energy director Marcus A. Watts reported an equity award linked to the Coterra merger.
Rhea-AI Filing Summary
Devon Energy director Marcus A. Watts reported an equity award linked to the Coterra merger. On May 7, 2026, he acquired 55,734 shares of Devon common stock at no cost as a grant or award, bringing his directly held stake to 55,734 shares.
The footnotes explain this stems from the merger of Devon and Coterra. Each Coterra common share was converted into the right to receive 0.7 Devon shares, and 51,756 of the reported shares are restricted stock units converted from deferred Coterra RSU awards on the same terms and conditions.
Positive
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Negative
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Insider Trade Summary
Grant/Award: 55,734 shares
Grant/Award
1 txn
Insider
WATTS MARCUS A
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 55,734 | $0.00 | $0.00 |
Holdings After Transaction:
Common Stock — 55,734 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 51,756 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: 55,734 shares
Price per share: $0.00 per share
Shares held after transaction: 55,734 shares
+2 more
5 metrics
Shares acquired
55,734 shares
Common stock grant on May 7, 2026
Price per share
$0.00 per share
Grant/award acquisition, not open-market trade
Shares held after transaction
55,734 shares
Direct ownership following the award
RSU component
51,756 shares
Devon RSUs converted from Coterra deferred RSU awards
Merger exchange ratio
0.7 shares
Each Coterra share converted into 0.7 Devon shares
Key Terms
Agreement and Plan of Merger, restricted stock unit awards, Coterra Deferred RSU Awards, Effective Time
4 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.
restricted stock unit awards financial
"includes 51,756 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"
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Devon Energy (DVN) report for Marcus A. Watts?
Devon Energy reported that director Marcus A. Watts acquired 55,734 shares of Devon common stock as a grant or award. The shares were issued at no cost and are tied to the completion of Devon’s merger with Coterra Energy Inc. and related equity award conversions.
Was the Marcus A. Watts Form 4 transaction in DVN an open-market purchase or sale?
The transaction was not an open-market trade. It is coded as a grant or award acquisition at a price of $0.00 per share, reflecting equity issued in connection with Devon’s merger with Coterra rather than a discretionary market purchase or sale by the director.
How is the Coterra merger reflected in Marcus A. Watts’ Devon Energy Form 4?
The Form 4 notes that each Coterra share converted into the right to receive 0.7 Devon shares at the merger’s effective time. It also explains that Coterra deferred restricted stock unit awards were converted into Devon restricted stock unit awards using the same 0.7 exchange ratio for the reporting person.
AI-generated analysis. How Rhea-AI works. Not financial advice.
