---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-272870"
form_type: "8-K"
ticker: "DVN"
cik: "0001090012"
company_name: "DEVON ENERGY CORP/DE"
filed_at: "2024-12-09T23:59:59+00:00"
generated_at: "2026-05-29T05:29:41.545985+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Devon Energy CEO Richard Muncrief to retire March 1, 2025; COO Clay Gaspar named successor

## Summary
- CEO Richard Muncrief retiring effective March 1, 2025; will serve as advisor until Q2 2025.
- Clay M. Gaspar, current EVP & COO, appointed President, CEO, and Board member same date.
- Gaspar compensation: base salary $1,000,000, target bonus 130% of base, target equity $8,000,000.
- Retirement not due to disagreement; no other arrangements with Mr. Gaspar.

## SEC filing metadata
- accession: 0001193125-24-272870
- form_type: 8-K
- ticker: DVN
- cik: 0001090012
- company_name: DEVON ENERGY CORP/DE
- filed_at: 2024-12-09T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1090012/000119312524272870/0001193125-24-272870-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1090012/000119312524272870/d863723d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-272870
- JSON: https://secwatch.observer/filing/0001193125-24-272870.json
- Plain text: https://secwatch.observer/filing/0001193125-24-272870.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.