Devon Director Jacinto Hernandez Granted 6,801 Shares After Coterra Merger

*TL;DR: Director Jacinto J. Hernandez was granted 6,801 Devon Energy shares on May 7, 2026, with 6,505 stemming from converted Coterra deferred RSU awards.

Context Devon Energy (NYSE: DVN) completed a merger with Coterra Energy earlier this year. The merger agreement stipulated that each Coterra share would be exchanged for 0.7 Devon share. The deal also required conversion of Coterra’s deferred restricted stock unit (RSU) awards into Devon RSUs on the same 0.7‑to‑1 ratio.

Key Facts - On May 7, 2026, director Jacinto J. Hernandez received a grant of 6,801 Devon common shares at zero cash cost. - The grant brings his direct holding to exactly 6,801 shares. - Of the total, 6,505 shares are tied to RSU awards that were converted from Coterra deferred RSU awards. - The conversion follows the merger’s exchange ratio: each Coterra share, including those underlying RSU awards, yields 0.7 Devon share. - No cash changed hands; the transaction is recorded as a grant rather than a market purchase.

What It Means The grant increases Hernandez’s equity stake without diluting existing shareholders through a cash outlay. The RSU conversion adds 6,505 shares to the pool of Devon‑issued RSUs, a factor that could affect future earnings per share calculations as those units vest. For investors, the transaction signals that board members retain a material interest aligned with post‑merger performance. The 0.7 exchange ratio also illustrates how the merger reshaped ownership structures, converting Coterra equity and deferred compensation into Devon stock.

Looking Ahead Watch for subsequent RSU vesting schedules and any additional insider equity moves as Devon integrates Coterra’s operations.