v3.25.1
Pay vs Performance Disclosure
 12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
​
Year
​ ​
SCT Total
Compensation
for CEO2,4
​ ​
Compensation
Actually
Paid
to CEO3,4
​ ​
Average SCT
Total
Compensation
for Other
NEOs2,5
​ ​
Average
Compensation
Actually Paid
to Other
NEOs3,5
​ ​
Value of a
$100
Investment
in Devon
Based on
Cumulative
TSR6,10
​ ​
Value of a
$100
Investment
in the Peer
Group
Based on
Cumulative
TSR6,7,10
​ ​
Post-Tax
Net Income8,10
​ ​
CROCE9,10
​
​ 2024 ​ ​ ​ $ 17,040 ​ ​ ​ ​ $ 6,709 ​ ​ ​ ​ $ 6,194 ​ ​ ​ ​ $ 2,599 ​ ​ ​ ​ $ 163 ​ ​ ​ ​ $ 157 ​ ​ ​ ​ $ 2.893B ​ ​ ​ ​ ​ 36% ​ ​
​ 2023 ​ ​ ​ $ 14,883 ​ ​ ​ ​ $ 814 ​ ​ ​ ​ $ 5,502 ​ ​ ​ ​ $ 1,204 ​ ​ ​ ​ $ 226 ​ ​ ​ ​ $ 152 ​ ​ ​ ​ $ 3.739B ​ ​ ​ ​ ​ 42% ​ ​
​ 2022 ​ ​ ​ $ 14,525 ​ ​ ​ ​ $ 41,216 ​ ​ ​ ​ $ 5,374 ​ ​ ​ ​ $ 12,292 ​ ​ ​ ​ $ 285 ​ ​ ​ ​ $ 143 ​ ​ ​ ​ $ 6.031B ​ ​ ​ ​ ​ 62% ​ ​
​
2021-Muncrief
​ ​ ​ $ 11,915 ​ ​ ​ ​ $ 48,059 ​ ​ ​ ​ $ 4,596 ​ ​ ​ ​ $ 15,151 ​ ​ ​ ​ $ 191 ​ ​ ​ ​ $ 121 ​ ​ ​ ​ $ 2.808B ​ ​ ​ ​ ​ 39% ​ ​
​ 2021-Hager ​ ​ ​ $ 3,391 ​ ​ ​ ​ $ 32,289 ​ ​
​ 2020 ​ ​ ​ $ 13,355 ​ ​ ​ ​ $ 4,514 ​ ​ ​ ​ $ 4,536 ​ ​ ​ ​ $ 1,594 ​ ​ ​ ​ $ 65 ​ ​ ​ ​ $ 58 ​ ​ ​ ​ -$ 2.688B ​ ​ ​ ​ ​ 27% ​ ​
​ ​
1
Dollar amounts are shown in thousands, except where otherwise indicated. Amounts in parentheses are negative. References to our CEO are also references to our principal executive officer (“PEO”) for purposes of this section.
​
 ​
​ ​
2
“SCT Total” is the Summary Compensation Table’s total for the applicable year.
​
 ​
​ ​
3
The calculation for “Compensation Actually Paid” is shown in “PvP Table 3”.
​
 ​
​ ​
4
The CEO for each year is as follows:
​
2024, 2023, 2022: Richard E. Muncrief
2021: Richard E. Muncrief, from January 7th to the end of the year; David A. Hager, from January 1st to 6th. After January 6th, Mr. Hager assumed the position of Executive Chair of the Board of Directors until his retirement in early 2023.
2020: David A. Hager
​
​ ​
5
The other NEOs for each year are as follows:
​
2024, 2023, 2022: Dennis C. Cameron, Clay M. Gaspar, David G. Harris, and Jeffrey L. Ritenour.
2021: Tana K. Cashion, Clay M. Gaspar, David G. Harris, Jeffrey L. Ritenour, and Lyndon C. Taylor.
2020: Tana K. Cashion, David G. Harris, Jeffrey L. Ritenour, and Lyndon C. Taylor.
​
​ ​
6
“TSR” is Total Shareholder Return including reinvested dividends. It is a measure of finance performance indicating the growth or decline in an investment’s value over a specified period. For 2024, “Cumulative TSR” is measured from the last trading day of 2019 to the last day of 2024; for 2023, “Cumulative TSR” is measured from the last trading day of 2019 to the last trading day of 2023; for 2022, the range is the last trading day of 2019 to the last trading day of 2022; for 2021, the range is the last trading day of 2019 to the last trading day of 2021; and for 2020, the range is the last trading day of 2019 to the last trading day of 2020. For Devon, Cumulative TSR for 2024, 2023, 2022, 2021, and 2020 was: 63%, 126%, 185%, 91%, and -35%, respectively. For the Peer Group, Cumulative TSR was 57%, 52%, 43%, 21%, and -42% for the same periods.
​
 ​
​
​ ​
7
The peer group for 2024, 2023 and 2022 was the SPDR S&P Oil & Gas Exploration & Production ETF (Symbol: XOP). The 2021 peer group was comprised of APA Corporation, ConocoPhillips, Continental Resources, Diamondback Energy, Inc., EOG Resources, Inc., Marathon Oil Corporation, Ovintiv, Inc., Pioneer Natural Resources Company, and the S&P Midcap 400 Index. Cimarex Energy Co. is excluded from this Cumulative TSR calculation due to its subsequent acquisition, and the S&P Midcap 400 is excluded due to incomparability on a market capitalized basis. The 2020 peer group was comprised of APA Corporation, Chesapeake Energy Corporation, Cimarex Energy Co, Continental Resources, Inc., EOG Resources, Inc., Marathon Oil Corporation, Occidental Petroleum Corporation, Ovintiv, Inc., and Pioneer Natural Resources Company. Chesapeake Energy Corporation is excluded from this Cumulative TSR calculation due to the impact of its subsequent bankruptcy filing, and Cimarex Energy Co. is excluded due to the company’s subsequent acquisition.
​
 ​
​ ​
8
Post-Tax Net Income is disclosed in the Comprehensive Statements of Consolidated Earnings of Devon’s annual report as “Comprehensive earnings (loss) attributable to Devon.”
​
 ​
​ ​
9
Cash Return on Capital Employed (CROCE) is an important financial measure used by the Company to link “compensation actually paid” to Company performance because of the importance of capital efficiency to successful operations in the oil and gas exploration and production industry. In Devon’s annual performance scorecard published in the “Annual Performance Bonus” section of this and prior Proxy Statements, CROCE was weighted as the joint-highest measure of performance on preset annual goals. The Company’s other important financial measures used to link “compensation actually paid” to Company performance are used to calculate Devon’s Annual Performance Bonus and can be found on page 42.
​
 ​
​ ​
10
The PvP Charts below illustrate the relationship between various performance measures and “Compensation Actually Paid.”
​
 ​
PvP Table 3: Converting Summary Compensation Table Total to “Compensation Actually Paid”1,2,3
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Subtract
(-)
​ ​
Subtract
(-)
​ ​
Add
(+)
​ ​
Add
(+)
​ ​
Equals
(=)
​
​
Year
​ ​
Executive
​ ​
SCT Total
Compensation
​ ​
Fair Value of
Stock-Based
Awards Granted
During the Year
​ ​
Change in
Pension Value
for the Year
​ ​
The Change in
the Fair Value
from Start to End
of the Year for
All Stock Awards
Outstanding4
​ ​
Pension Service
Cost and Cost of
Additional
Pension Benefits
Due to Plan
Amendment
​ ​
“Compensation
Actually Paid”
​
​
2024
​ ​
CEO
​ ​ ​ $ 17,040 ​ ​ ​ ​ $ 12,398 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 2,067 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 6,709 ​ ​
​
Other NEO Average
​ ​ ​ $ 6,194 ​ ​ ​ ​ $ 4,324 ​ ​ ​ ​ $ 1 ​ ​ ​ ​ $ 730 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 2,599 ​ ​
​
2023
​ ​
CEO
​ ​ ​ $ 14,883 ​ ​ ​ ​ $ 11,422 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ ($ 2,647) ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 814 ​ ​
​
Other NEO Average
​ ​ ​ $ 5,502 ​ ​ ​ ​ $ 4,012 ​ ​ ​ ​ $ 6 ​ ​ ​ ​ ($ 279) ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 1,204 ​ ​
​
2022
​ ​
CEO
​ ​ ​ $ 14,525 ​ ​ ​ ​ $ 10,405 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 37,096 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 41,216 ​ ​
​
Other NEO Average
​ ​ ​ $ 5,374 ​ ​ ​ ​ $ 3,717 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 10,635 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 12,292 ​ ​
​
2021
​ ​
CEO-Muncrief
​ ​ ​ $ 11,915 ​ ​ ​ ​ $ 8,311 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 44,455 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 48,059 ​ ​
​ CEO-Hager ​ ​ ​ $ 3,391 ​ ​ ​ ​ $ 712 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 29,610 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 32,289 ​ ​
​
Other NEO Average
​ ​ ​ $ 4,596 ​ ​ ​ ​ $ 1,881 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 12,436 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 15,151 ​ ​
​
2020
​ ​
CEO
​ ​ ​ $ 13,355 ​ ​ ​ ​ $ 9,509 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 668 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 4,514 ​ ​
​
Other NEO Average
​ ​ ​ $ 4,536 ​ ​ ​ ​ $ 2,405 ​ ​ ​ ​ $ 1,038 ​ ​ ​ ​ $ 501 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 1,594 ​ ​
​ ​
1
Dollar amounts are shown in thousands, except where otherwise indicated. Amounts in parentheses are negative. References to our CEO are also references to our PEO for purposes of this section.
​
 ​
​ ​
2
The CEO for each year is as follows:
​
 ​
​ ​
2024, 2023, 2022: Richard E. Muncrief
​
​ ​
2021: Richard E. Muncrief, from January 7th to the end of the year; David A. Hager, from January 1st to 6th. After January 6th, Mr. Hager assumed the position of Executive Chair of the Board of Directors until his retirement in early 2023.
​
​ ​
2020: David A. Hager
​
​
​ ​
3
The other NEOs for each year are as follows:
​
 ​
​ ​
2024, 2023, 2022: Dennis C. Cameron, Clay M. Gaspar, David G. Harris, and Jeffrey L. Ritenour.
​
​ ​
2022: Dennis C. Cameron, Clay M. Gaspar, David G. Harris, and Jeffrey L. Ritenour
​
​ ​
2021: Tana K. Cashion, Clay M. Gaspar, David G. Harris, Jeffrey L. Ritenour, and Lyndon C. Taylor
​
​ ​
2020: Tana K. Cashion, David G. Harris, Jeffrey L. Ritenour, and Lyndon C. Taylor.
​
​ ​
4
The process for determining the change in fair value under applicable financial accounting standards for stock-based compensation for this exhibit is substantially similar to that used for determining accounting value at the time of grant. For RSAs, the fair value is determined by multiplying the Fair Market Value of the underlying stock by the number of shares granted. For the interim calculations in this table, the product of the shares outstanding multiplied by the stock price at the beginning of the year (or at grant) is subtracted from the same calculation at the end of the year (or at vest). To determine grant value of PSUs, a Monte-Carlo simulation assimilating 10,000 potential outcomes is used. The Monte-Carlo simulation was rerun at the beginning and end of the year covered by this disclosure to create the interim valuations required. The table below reconciles the change in fair value of outstanding stock-based compensation awards for the period covered by this disclosure; amounts are shown in thousands. No awards were forfeited by NEOs during this period. Dividend equivalents earned on grants are included in the fair value of the awards and no other payments were made.
​
 ​
​ ​ ​ ​
2024
​ ​ ​
2023
​ ​ ​
2022
​ ​ ​
2021
​ ​ ​
2020
​
​ ​ ​ ​
CEO
​ ​
Other
NEO
Average
​ ​ ​
CEO
​ ​
Other
NEO
Average
​ ​ ​
CEO
​ ​
Other
NEO
Average
​ ​ ​
CEO-
Muncrief
​ ​
CEO-
Hager
​ ​
Other
NEO
Average
​ ​ ​
CEO
​ ​
Other
NEO
Average
​
​
Year End Fair Value-
Awards Made During Year
​ ​ ​ $ 7,657 ​ ​ ​ ​ $ 2,671 ​ ​ ​ ​ ​ $ 7,265 ​ ​ ​ ​ $ 2,552 ​ ​ ​ ​ ​ $ 13,005 ​ ​ ​ ​ $ 4,533 ​ ​ ​ ​ ​ $ 18,136 ​ ​ ​ ​ $ 1,555 ​ ​ ​ ​ $ 5,130 ​ ​ ​ ​ ​ $ 7,572 ​ ​ ​ ​ $ 1,915 ​ ​
​
Change in Fair Value-
Awards Outstanding During Year
​ ​ ​ ($ 4,077) ​ ​ ​ ​ ($ 1,399) ​ ​ ​ ​ ​ ($ 7,388) ​ ​ ​ ​ ($ 2,555) ​ ​ ​ ​ ​ $ 15,003 ​ ​ ​ ​ $ 4,105 ​ ​ ​ ​ ​ $ 24,292 ​ ​ ​ ​ $ 17,015 ​ ​ ​ ​ $ 5,653 ​ ​ ​ ​ ​ ($ 4,435) ​ ​ ​ ​ ($ 935) ​ ​
​
Change in Fair Value-
Awards Vesting During Year
​ ​ ​ ($ 1,513) ​ ​ ​ ​ ($ 541) ​ ​ ​ ​ ​ ($ 2,524) ​ ​ ​ ​ ($ 276) ​ ​ ​ ​ ​ $ 9,088 ​ ​ ​ ​ $ 1,997 ​ ​ ​ ​ ​ $ 2,027 ​ ​ ​ ​ $ 11,040 ​ ​ ​ ​ $ 1,653 ​ ​ ​ ​ ​ ($ 2,469) ​ ​ ​ ​ ($ 479) ​ ​
​
Total Change in Fair Value
​ ​ ​ $ 2,067 ​ ​ ​ ​ $ 730 ​ ​ ​ ​ ​ ($ 2,647) ​ ​ ​ ​ ($ 279) ​ ​ ​ ​ ​ $ 37,096 ​ ​ ​ ​ $ 10,635 ​ ​ ​ ​ ​ $ 44,455 ​ ​ ​ ​ $ 29,610 ​ ​ ​ ​ $ 12,436 ​ ​ ​ ​ ​ $ 668 ​ ​ ​ ​ $ 501 ​ ​
       
Company Selected Measure Name Cash Return on Capital Employed (CROCE)        
Named Executive Officers, Footnote 4
The CEO for each year is as follows:
​
2024, 2023, 2022: Richard E. Muncrief
2021: Richard E. Muncrief, from January 7th to the end of the year; David A. Hager, from January 1st to 6th. After January 6th, Mr. Hager assumed the position of Executive Chair of the Board of Directors until his retirement in early 2023.
2020: David A. Hager
​​​
5
The other NEOs for each year are as follows:
​
2024, 2023, 2022: Dennis C. Cameron, Clay M. Gaspar, David G. Harris, and Jeffrey L. Ritenour.
2021: Tana K. Cashion, Clay M. Gaspar, David G. Harris, Jeffrey L. Ritenour, and Lyndon C. Taylor.
2020: Tana K. Cashion, David G. Harris, Jeffrey L. Ritenour, and Lyndon C. Taylor. 		       
Peer Group Issuers, Footnote 7
The peer group for 2024, 2023 and 2022 was the SPDR S&P Oil & Gas Exploration & Production ETF (Symbol: XOP). The 2021 peer group was comprised of APA Corporation, ConocoPhillips, Continental Resources, Diamondback Energy, Inc., EOG Resources, Inc., Marathon Oil Corporation, Ovintiv, Inc., Pioneer Natural Resources Company, and the S&P Midcap 400 Index. Cimarex Energy Co. is excluded from this Cumulative TSR calculation due to its subsequent acquisition, and the S&P Midcap 400 is excluded due to incomparability on a market capitalized basis. The 2020 peer group was comprised of APA Corporation, Chesapeake Energy Corporation, Cimarex Energy Co, Continental Resources, Inc., EOG Resources, Inc., Marathon Oil Corporation, Occidental Petroleum Corporation, Ovintiv, Inc., and Pioneer Natural Resources Company. Chesapeake Energy Corporation is excluded from this Cumulative TSR calculation due to the impact of its subsequent bankruptcy filing, and Cimarex Energy Co. is excluded due to the company’s subsequent acquisition. 		       
PEO Total Compensation Amount $ 17,040 $ 14,883 $ 14,525   $ 13,355
PEO Actually Paid Compensation Amount $ 6,709 814 41,216   4,514
Adjustment To PEO Compensation, Footnote
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Subtract
(-)
​ ​
Subtract
(-)
​ ​
Add
(+)
​ ​
Add
(+)
​ ​
Equals
(=)
​
​
Year
​ ​
Executive
​ ​
SCT Total
Compensation
​ ​
Fair Value of
Stock-Based
Awards Granted
During the Year
​ ​
Change in
Pension Value
for the Year
​ ​
The Change in
the Fair Value
from Start to End
of the Year for
All Stock Awards
Outstanding4
​ ​
Pension Service
Cost and Cost of
Additional
Pension Benefits
Due to Plan
Amendment
​ ​
“Compensation
Actually Paid”
​
​
2024
​ ​
CEO
​ ​ ​ $ 17,040 ​ ​ ​ ​ $ 12,398 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 2,067 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 6,709 ​ ​
​
Other NEO Average
​ ​ ​ $ 6,194 ​ ​ ​ ​ $ 4,324 ​ ​ ​ ​ $ 1 ​ ​ ​ ​ $ 730 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 2,599 ​ ​
​
2023
​ ​
CEO
​ ​ ​ $ 14,883 ​ ​ ​ ​ $ 11,422 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ ($ 2,647) ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 814 ​ ​
​
Other NEO Average
​ ​ ​ $ 5,502 ​ ​ ​ ​ $ 4,012 ​ ​ ​ ​ $ 6 ​ ​ ​ ​ ($ 279) ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 1,204 ​ ​
​
2022
​ ​
CEO
​ ​ ​ $ 14,525 ​ ​ ​ ​ $ 10,405 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 37,096 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 41,216 ​ ​
​
Other NEO Average
​ ​ ​ $ 5,374 ​ ​ ​ ​ $ 3,717 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 10,635 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 12,292 ​ ​
​
2021
​ ​
CEO-Muncrief
​ ​ ​ $ 11,915 ​ ​ ​ ​ $ 8,311 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 44,455 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 48,059 ​ ​
​ CEO-Hager ​ ​ ​ $ 3,391 ​ ​ ​ ​ $ 712 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 29,610 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 32,289 ​ ​
​
Other NEO Average
​ ​ ​ $ 4,596 ​ ​ ​ ​ $ 1,881 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 12,436 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 15,151 ​ ​
​
2020
​ ​
CEO
​ ​ ​ $ 13,355 ​ ​ ​ ​ $ 9,509 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 668 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 4,514 ​ ​
​
Other NEO Average
​ ​ ​ $ 4,536 ​ ​ ​ ​ $ 2,405 ​ ​ ​ ​ $ 1,038 ​ ​ ​ ​ $ 501 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 1,594 ​ ​
4
The process for determining the change in fair value under applicable financial accounting standards for stock-based compensation for this exhibit is substantially similar to that used for determining accounting value at the time of grant. For RSAs, the fair value is determined by multiplying the Fair Market Value of the underlying stock by the number of shares granted. For the interim calculations in this table, the product of the shares outstanding multiplied by the stock price at the beginning of the year (or at grant) is subtracted from the same calculation at the end of the year (or at vest). To determine grant value of PSUs, a Monte-Carlo simulation assimilating 10,000 potential outcomes is used. The Monte-Carlo simulation was rerun at the beginning and end of the year covered by this disclosure to create the interim valuations required. The table below reconciles the change in fair value of outstanding stock-based compensation awards for the period covered by this disclosure; amounts are shown in thousands. No awards were forfeited by NEOs during this period. Dividend equivalents earned on grants are included in the fair value of the awards and no other payments were made.
​
​
​ ​ ​ ​
2024
​ ​ ​
2023
​ ​ ​
2022
​ ​ ​
2021
​ ​ ​
2020
​
​ ​ ​ ​
CEO
​ ​
Other
NEO
Average
​ ​ ​
CEO
​ ​
Other
NEO
Average
​ ​ ​
CEO
​ ​
Other
NEO
Average
​ ​ ​
CEO-
Muncrief
​ ​
CEO-
Hager
​ ​
Other
NEO
Average
​ ​ ​
CEO
​ ​
Other
NEO
Average
​
​
Year End Fair Value-
Awards Made During Year
​ ​ ​ $ 7,657 ​ ​ ​ ​ $ 2,671 ​ ​ ​ ​ ​ $ 7,265 ​ ​ ​ ​ $ 2,552 ​ ​ ​ ​ ​ $ 13,005 ​ ​ ​ ​ $ 4,533 ​ ​ ​ ​ ​ $ 18,136 ​ ​ ​ ​ $ 1,555 ​ ​ ​ ​ $ 5,130 ​ ​ ​ ​ ​ $ 7,572 ​ ​ ​ ​ $ 1,915 ​ ​
​
Change in Fair Value-
Awards Outstanding During Year
​ ​ ​ ($ 4,077) ​ ​ ​ ​ ($ 1,399) ​ ​ ​ ​ ​ ($ 7,388) ​ ​ ​ ​ ($ 2,555) ​ ​ ​ ​ ​ $ 15,003 ​ ​ ​ ​ $ 4,105 ​ ​ ​ ​ ​ $ 24,292 ​ ​ ​ ​ $ 17,015 ​ ​ ​ ​ $ 5,653 ​ ​ ​ ​ ​ ($ 4,435) ​ ​ ​ ​ ($ 935) ​ ​
​
Change in Fair Value-
Awards Vesting During Year
​ ​ ​ ($ 1,513) ​ ​ ​ ​ ($ 541) ​ ​ ​ ​ ​ ($ 2,524) ​ ​ ​ ​ ($ 276) ​ ​ ​ ​ ​ $ 9,088 ​ ​ ​ ​ $ 1,997 ​ ​ ​ ​ ​ $ 2,027 ​ ​ ​ ​ $ 11,040 ​ ​ ​ ​ $ 1,653 ​ ​ ​ ​ ​ ($ 2,469) ​ ​ ​ ​ ($ 479) ​ ​
​
Total Change in Fair Value
​ ​ ​ $ 2,067 ​ ​ ​ ​ $ 730 ​ ​ ​ ​ ​ ($ 2,647) ​ ​ ​ ​ ($ 279) ​ ​ ​ ​ ​ $ 37,096 ​ ​ ​ ​ $ 10,635 ​ ​ ​ ​ ​ $ 44,455 ​ ​ ​ ​ $ 29,610 ​ ​ ​ ​ $ 12,436 ​ ​ ​ ​ ​ $ 668 ​ ​ ​ ​ $ 501 ​ ​
       
Non-PEO NEO Average Total Compensation Amount $ 6,194 5,502 5,374 $ 4,596 4,536
Non-PEO NEO Average Compensation Actually Paid Amount $ 2,599 1,204 12,292 15,151 1,594
Adjustment to Non-PEO NEO Compensation Footnote
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Subtract
(-)
​ ​
Subtract
(-)
​ ​
Add
(+)
​ ​
Add
(+)
​ ​
Equals
(=)
​
​
Year
​ ​
Executive
​ ​
SCT Total
Compensation
​ ​
Fair Value of
Stock-Based
Awards Granted
During the Year
​ ​
Change in
Pension Value
for the Year
​ ​
The Change in
the Fair Value
from Start to End
of the Year for
All Stock Awards
Outstanding4
​ ​
Pension Service
Cost and Cost of
Additional
Pension Benefits
Due to Plan
Amendment
​ ​
“Compensation
Actually Paid”
​
​
2024
​ ​
CEO
​ ​ ​ $ 17,040 ​ ​ ​ ​ $ 12,398 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 2,067 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 6,709 ​ ​
​
Other NEO Average
​ ​ ​ $ 6,194 ​ ​ ​ ​ $ 4,324 ​ ​ ​ ​ $ 1 ​ ​ ​ ​ $ 730 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 2,599 ​ ​
​
2023
​ ​
CEO
​ ​ ​ $ 14,883 ​ ​ ​ ​ $ 11,422 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ ($ 2,647) ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 814 ​ ​
​
Other NEO Average
​ ​ ​ $ 5,502 ​ ​ ​ ​ $ 4,012 ​ ​ ​ ​ $ 6 ​ ​ ​ ​ ($ 279) ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 1,204 ​ ​
​
2022
​ ​
CEO
​ ​ ​ $ 14,525 ​ ​ ​ ​ $ 10,405 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 37,096 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 41,216 ​ ​
​
Other NEO Average
​ ​ ​ $ 5,374 ​ ​ ​ ​ $ 3,717 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 10,635 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 12,292 ​ ​
​
2021
​ ​
CEO-Muncrief
​ ​ ​ $ 11,915 ​ ​ ​ ​ $ 8,311 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 44,455 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 48,059 ​ ​
​ CEO-Hager ​ ​ ​ $ 3,391 ​ ​ ​ ​ $ 712 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 29,610 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 32,289 ​ ​
​
Other NEO Average
​ ​ ​ $ 4,596 ​ ​ ​ ​ $ 1,881 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 12,436 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 15,151 ​ ​
​
2020
​ ​
CEO
​ ​ ​ $ 13,355 ​ ​ ​ ​ $ 9,509 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 668 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 4,514 ​ ​
​
Other NEO Average
​ ​ ​ $ 4,536 ​ ​ ​ ​ $ 2,405 ​ ​ ​ ​ $ 1,038 ​ ​ ​ ​ $ 501 ​ ​ ​ ​ $ 0 ​ ​ ​ ​ $ 1,594 ​ ​
4
The process for determining the change in fair value under applicable financial accounting standards for stock-based compensation for this exhibit is substantially similar to that used for determining accounting value at the time of grant. For RSAs, the fair value is determined by multiplying the Fair Market Value of the underlying stock by the number of shares granted. For the interim calculations in this table, the product of the shares outstanding multiplied by the stock price at the beginning of the year (or at grant) is subtracted from the same calculation at the end of the year (or at vest). To determine grant value of PSUs, a Monte-Carlo simulation assimilating 10,000 potential outcomes is used. The Monte-Carlo simulation was rerun at the beginning and end of the year covered by this disclosure to create the interim valuations required. The table below reconciles the change in fair value of outstanding stock-based compensation awards for the period covered by this disclosure; amounts are shown in thousands. No awards were forfeited by NEOs during this period. Dividend equivalents earned on grants are included in the fair value of the awards and no other payments were made.
​
​
​ ​ ​ ​
2024
​ ​ ​
2023
​ ​ ​
2022
​ ​ ​
2021
​ ​ ​
2020
​
​ ​ ​ ​
CEO
​ ​
Other
NEO
Average
​ ​ ​
CEO
​ ​
Other
NEO
Average
​ ​ ​
CEO
​ ​
Other
NEO
Average
​ ​ ​
CEO-
Muncrief
​ ​
CEO-
Hager
​ ​
Other
NEO
Average
​ ​ ​
CEO
​ ​
Other
NEO
Average
​
​
Year End Fair Value-
Awards Made During Year
​ ​ ​ $ 7,657 ​ ​ ​ ​ $ 2,671 ​ ​ ​ ​ ​ $ 7,265 ​ ​ ​ ​ $ 2,552 ​ ​ ​ ​ ​ $ 13,005 ​ ​ ​ ​ $ 4,533 ​ ​ ​ ​ ​ $ 18,136 ​ ​ ​ ​ $ 1,555 ​ ​ ​ ​ $ 5,130 ​ ​ ​ ​ ​ $ 7,572 ​ ​ ​ ​ $ 1,915 ​ ​
​
Change in Fair Value-
Awards Outstanding During Year
​ ​ ​ ($ 4,077) ​ ​ ​ ​ ($ 1,399) ​ ​ ​ ​ ​ ($ 7,388) ​ ​ ​ ​ ($ 2,555) ​ ​ ​ ​ ​ $ 15,003 ​ ​ ​ ​ $ 4,105 ​ ​ ​ ​ ​ $ 24,292 ​ ​ ​ ​ $ 17,015 ​ ​ ​ ​ $ 5,653 ​ ​ ​ ​ ​ ($ 4,435) ​ ​ ​ ​ ($ 935) ​ ​
​
Change in Fair Value-
Awards Vesting During Year
​ ​ ​ ($ 1,513) ​ ​ ​ ​ ($ 541) ​ ​ ​ ​ ​ ($ 2,524) ​ ​ ​ ​ ($ 276) ​ ​ ​ ​ ​ $ 9,088 ​ ​ ​ ​ $ 1,997 ​ ​ ​ ​ ​ $ 2,027 ​ ​ ​ ​ $ 11,040 ​ ​ ​ ​ $ 1,653 ​ ​ ​ ​ ​ ($ 2,469) ​ ​ ​ ​ ($ 479) ​ ​
​
Total Change in Fair Value
​ ​ ​ $ 2,067 ​ ​ ​ ​ $ 730 ​ ​ ​ ​ ​ ($ 2,647) ​ ​ ​ ​ ($ 279) ​ ​ ​ ​ ​ $ 37,096 ​ ​ ​ ​ $ 10,635 ​ ​ ​ ​ ​ $ 44,455 ​ ​ ​ ​ $ 29,610 ​ ​ ​ ​ $ 12,436 ​ ​ ​ ​ ​ $ 668 ​ ​ ​ ​ $ 501 ​ ​
       
Compensation Actually Paid vs. Total Shareholder Return [MISSING IMAGE: bc_shareholderreturn-pn.jpg]        
Compensation Actually Paid vs. Net Income
[MISSING IMAGE: bc_posttax-pn.jpg]
       
Compensation Actually Paid vs. Company Selected Measure
[MISSING IMAGE: bc_capitalemployed-pn.jpg]
       
Total Shareholder Return Vs Peer Group [MISSING IMAGE: bc_shareholderreturn-pn.jpg]        
Tabular List, Table
PvP Table 2: Other Measures Important in Linking Performance to “Compensation Actually Paid”
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Other Important Measures1
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Free Cash Flow
(FCF)
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Health &
Safety
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Environmental
Performance
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Total Oil & Gas
Production
​ ​
Total Capital
Expenditures
 ​
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1
These are the measures, in addition to CROCE, used to determine 2024 NEO performance bonuses. For more information on measures used to determine performance bonuses, see section “Annual Performance Bonus” in this Proxy Statement and similar disclosures in prior Proxy Statements.
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Total Shareholder Return Amount $ 163 226 285 191 65
Peer Group Total Shareholder Return Amount 157 152 143 121 58
Net Income (Loss) $ 2,893,000,000 $ 3,739,000,000 $ 6,031,000,000.000 $ 2,808,000,000 $ (2,688,000,000)
Company Selected Measure Amount 36 42 62 39 27
PEO Name Richard E. Muncrief        
Cumulative Total Share Holder Return In Percenatge 63.00% 126.00% 185.00% 91.00% (35.00%)
Peer Group Cumulative Total Share Holder Return 57.00% 52.00% 43.00% 21.00% (42.00%)
Measure:: 1          
Pay vs Performance Disclosure          
Non-GAAP Measure Description 9
Cash Return on Capital Employed (CROCE) is an important financial measure used by the Company to link “compensation actually paid” to Company performance because of the importance of capital efficiency to successful operations in the oil and gas exploration and production industry. In Devon’s annual performance scorecard published in the “Annual Performance Bonus” section of this and prior Proxy Statements, CROCE was weighted as the joint-highest measure of performance on preset annual goals. The Company’s other important financial measures used to link “compensation actually paid” to Company performance are used to calculate Devon’s Annual Performance Bonus and can be found on page 42. 		       
Measure:: 2          
Pay vs Performance Disclosure          
Name Free Cash Flow(FCF)        
Measure:: 3          
Pay vs Performance Disclosure          
Name Health &Safety        
Measure:: 4          
Pay vs Performance Disclosure          
Name EnvironmentalPerformance        
Measure:: 5          
Pay vs Performance Disclosure          
Name Total Oil & GasProduction        
Measure:: 6          
Pay vs Performance Disclosure          
Name Total CapitalExpenditures        
Muncrief [Member]          
Pay vs Performance Disclosure          
PEO Total Compensation Amount       $ 11,915  
PEO Actually Paid Compensation Amount       48,059  
Hager [Member]          
Pay vs Performance Disclosure          
PEO Total Compensation Amount       3,391  
PEO Actually Paid Compensation Amount       32,289  
PEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 0 $ 0 $ 0   $ 0
PEO | Pension Adjustments Service Cost          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0   0
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (12,398) (11,422) (10,405)   (9,509)
PEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 2,067 (2,647) 37,096   668
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 7,657 7,265 13,005   7,572
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (4,077) (7,388) 15,003   (4,435)
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (1,513) (2,524) 9,088   (2,469)
PEO | Muncrief [Member] | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount       0  
PEO | Muncrief [Member] | Pension Adjustments Service Cost          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount       0  
PEO | Muncrief [Member] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount       (8,311)  
PEO | Muncrief [Member] | Equity Awards Adjustments, Excluding Value Reported in Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount     44,455 44,455  
PEO | Muncrief [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount     18,136    
PEO | Muncrief [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount     24,292    
PEO | Muncrief [Member] | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount     2,027    
PEO | Hager [Member] | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount       0  
PEO | Hager [Member] | Pension Adjustments Service Cost          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount       0  
PEO | Hager [Member] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount       (712)  
PEO | Hager [Member] | Equity Awards Adjustments, Excluding Value Reported in Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount       29,610  
PEO | Hager [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount       1,555  
PEO | Hager [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount       17,015  
PEO | Hager [Member] | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount       11,040  
Non-PEO NEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1 (6) 0 0 (1,038)
Non-PEO NEO | Pension Adjustments Service Cost          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 0
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (4,324) (4,012) (3,717) (1,881) (2,405)
Non-PEO NEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 730 (279) 10,635 12,436 501
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 2,671 2,552 4,533 5,130 1,915
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (1,399) (2,555) 4,105 5,653 (935)
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (541) $ (276) $ 1,997 $ 1,653 $ (479)