Devon Energy raises CEO Clay Gaspar base salary to $1.5 million
DVN•CEO base salary reset after merger closing
Devon Energy raised CEO Clay M. Gaspar’s base salary to an annualized rate of $1.5 million, effective retroactively to May 7, 2026.
The compensation reset was tied to the closing date of Devon’s merger transaction with Coterra Energy.
Restricted stock award valued at $2.7 million
Gaspar also received restricted stock valued at $2.7 million, based on the Sept. 10, 2026 closing share price.
The equity award will vest annually in three installments under Devon’s 2022 Long-Term Incentive Plan.
