On August 21, 2026, Devon Energy's Compensation Committee approved adjustments to CEO Clay M. Gaspar’s compensation following the May 7, 2026 merger with Coterra Energy Inc. The approval includes a base salary increase to $1,500,000 annually, retroactive to the merger closing date, and a restricted stock award valued at $2,700,000 based on the September 10, 2026 grant date price. This compensation package reflects benchmarking data and consultant recommendations. Devon Energy Corporation operates in the oil and gas exploration and production industry.
