8-KItem 5.02 · Officer/Director Change
Devon Energy Raises CEO Salary and Approves $2.7 Million Stock Award
Filed with the SEC on · Summarized by InvestorsBot
Devon Energy’s Compensation Committee approved raising CEO and President Clay Gaspar’s annual base salary to $1.5 million, retroactive to May 7, 2026, the closing date of Devon’s merger with Coterra Energy. The committee also approved a $2.7 million restricted-stock award under Devon’s 2022 incentive plan, vesting in three annual installments and based on the company’s closing share price on the stated September 10, 2026 grant date.