Devon Energy grants retroactive dividend equivalent rights on converted WPX RSUs, CEO to receive $1.46M

DEVON ENERGY CORP/DE

Board approved amendment to Converted RSUs (from WPX merger) granting dividend equivalent rights (DERs) retroactive to dividends declared since Jan 7, 2021 merger close.
Holders of Converted RSUs, including former WPX directors/employees now at Devon, receive DERs upon vesting, aligning with Devon's other equity awards.
CEO Richard Muncrief entitled to ~$1.46M cash DERs for 2021 dividends, plus future DERs during remaining vesting periods.
Amendment aligns interests with Devon's 'fixed plus variable' dividend strategy and existing equity incentive practices.

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