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Devon Energy Executive Compensation (FY25)

DVN · Executive and director compensation, fiscal 2022 to 2025

The Devon Energy brief, $1,500

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $1,200 for the board report; $2,400 for both.
Data as of September 7, 2026Latest filing (8-K): June 30, 2026
14 filings cited on this page
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
Devon Energy brief$1,500Get the executive brief
351 figures on this page: 342 cited to the filing that reported them, 9 calculated from figures it prints. See the citations
Chief executive, fiscal 2025
◇
Clay Gaspar
Median of the other named officers
$3,963,383
6 officers, excluding the chief executive
Latest say-on-pay support
=
June 30, 2026
Chief executive pay ratio
◇
To the median employee
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Clay Gaspar: $7,006,793 → $12,566,384 (79.3% higher)
Say-on-pay support: 64.5% → 94.7% (30.2 points higher)
CEO pay ratio: 97:1 → 66:1 (32.0% lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is Devon Energy's chief executive and what were they paid?
Clay Gaspar, President and Chief Executive Officer, received $12,566,384 in total compensation for fiscal 2025. Gaspar's total was 79.3% higher than the $7,006,793 reported for fiscal 2024.
What was Devon Energy's say-on-pay result?
The say-on-pay proposal drew 94.7% of votes cast including abstentions in favor at the meeting held June 30, 2026 for fiscal 2025.
Which companies are in Devon Energy's peer group?
Companies named in the disclosed peer group include APA Corporation, ConocoPhillips, Coterra Energy Inc., Diamondback Energy, Inc. and EOG Resources, Inc., among others. Companies named in the For Decisions Made January 2026 include EQT Corporation, Expand Energy Corporation and Permian Resources Corporation.
What is Devon Energy's chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2025 is 66:1, against median employee compensation of $189,700.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Richard Muncrief
President and Chief Executive Officer
◇—◇—◇—◇◇
Clay Gaspar
Executive Vice President and Chief Operating Officer
◇—◇—◇—◇◇
Jeffrey Ritenour
Executive Vice President and Chief Financial Officer
◇—◇—◇—◇◇
David Harris
Executive Vice President, Exploration and Production
◇—◇—◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Richard Muncrief
President and Chief Executive Officer
◇—◇—◇—◇◇
Clay Gaspar
Executive Vice President and Chief Operating Officer
◇—◇—◇—◇◇
David Harris
Executive Vice President, Exploration and Production
◇—◇—◇—◇◇
Jeffrey Ritenour
Executive Vice President and Chief Financial Officer
◇—◇—◇◇◇◇
Dennis Cameron
Executive Vice President and General Counsel
◇—◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Richard Muncrief
Former President and Chief Executive Officer
◇—◇—◇—◇◇
Clay Gaspar
Executive Vice President and Chief Operating Officer
◇—◇—◇—◇◇
David Harris
Former Executive Vice President and Chief Corporate Development Officer
◇—◇—◇—◇◇
Jeffrey Ritenour
Executive Vice President and Chief Financial Officer
◇—◇—◇◇◇◇
Dennis Cameron
Executive Vice President and General Counsel
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Clay Gaspar
President and Chief Executive Officer
◇—◇—◇—◇◇
Jeffrey Ritenour
Executive Vice President and Chief Financial Officer
◇—◇—◇◇◇◇
David Harris
Former Executive Vice President and Chief Corporate Development Officer
Departed during or after this year
◇—————◇◇
Dennis Cameron
Executive Vice President and General Counsel
◇—◇—◇—◇◇
Tana Cashion
Executive Vice President Human Resources and Administration
◇—◇—◇◇◇◇
John Raines
Senior Vice President E&P Asset Management
◇—◇—◇◇◇◇
Richard Muncrief
Former President and Chief Executive Officer
Departed during or after this year
◇—————◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Clay M. GasparRSU◇——◇——◇
Clay M. GasparPSU◇◇◇—◇—◇
Dennis C. CameronPSU◇◇◇—◇—◇
Dennis C. CameronRSU◇——◇——◇
Jeffrey L. RitenourPSU◇◇◇—◇—◇
Jeffrey L. RitenourRSU◇——◇——◇
John D. RainesRSU◇——◇——◇
John D. RainesPSU◇◇◇—◇—◇
Tana K. CashionPSU◇◇◇—◇—◇
Tana K. CashionRSU◇——◇——◇
Fiscal 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Tana CashionRSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
Dennis CameronRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
Jeffrey RitenourRSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
John RainesRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
David HarrisRSU◇◇——
PSU◇◇——
Clay GasparRSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Richard MuncriefRSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Severance and change in control

The terms as written in the agreements.
Clay Gaspar
President and Chief Executive Officer · Employment agreement
Severance multiple◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇
Non-solicit period◇
David Harris
Former Executive Vice President and Chief Corporate Development Officer · Employment agreement
Severance multiple◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇
Non-solicit period◇
Dennis Cameron
Executive Vice President and General Counsel · Employment agreement
Severance multiple◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇
Non-solicit period◇
Jeffrey Ritenour
Executive Vice President and Chief Financial Officer · Employment agreement
Severance multiple◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇
Non-solicit period◇
John Raines
Senior Vice President E&P Asset Management · Employment agreement
Severance multiple◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇
Non-solicit period◇
Richard Muncrief
Former President and Chief Executive Officer · Employment agreement
Severance multiple◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇
Non-solicit period◇
Tana Cashion
Executive Vice President Human Resources and Administration · Employment agreement
Severance multiple◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇
Non-solicit period◇

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
John E. Bethancourt
◇◇———◇◇
Karl F. Kurz
◇◇———◇◇
Robert A. Mosbacher, Jr
◇◇———◇◇
Kelt Kindick
◇◇———◇◇
Valerie M. Williams
◇◇————◇
Ann G. Fox
◇◇———◇◇
Gennifer F. Kelly
◇◇———◇◇
Michael N. Mears
◇◇———◇◇
Barbara M. Baumann
◇◇————◇
Brent J. Smolik
◇◇————◇
John Krenicki Jr
◇—————◇
Amanda Brock, Clay M. Gaspar, Jacinto J. Hernandez, Marcus A. Watts, Thomas E. Jorden and Jeffrey E. Shellebarger served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Board chair premium◇
Lead independent director premium◇
Audit committee chair◇
Audit committee member◇
Compensation committee chair◇
Equity is delivered as Restricted Stock.
Stock ownership guideline: Stock Ownership Guidelines mentioned in table of contents on page 50

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • APA Corporation APA
  • ConocoPhillips COP
  • Coterra Energy Inc. CTRA
  • Diamondback Energy, Inc. FANG
  • EOG Resources, Inc. EOG
  • Hess Corporation HES
  • Marathon Oil Corporation MRO
  • Occidental Petroleum Corporation OXY
  • Ovintiv, Inc. OVV
For Decisions Made January 2026
  • EQT Corporation EQT
  • Expand Energy Corporation EXE
  • Permian Resources Corporation PR

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025June 30, 2026=◇◇◇
2024June 4, 2025=◇◇◇
2023June 5, 2024=◇◇◇
2022June 7, 2023=◇◇◇
2021June 8, 2022=◇◇◇
2020June 9, 2021=◇◇◇
2018June 5, 2019=◇◇◇
2017June 6, 2018=◇◇◇
2015June 8, 2016=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
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What this page does not include

Everything above is a fact Devon Energy disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Devon Energy sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
351 figures on this page: 342 cited to the filing that reported them, 9 calculated from figures it prints.
342 cited to the filing
9 calculated from the filing

Documents cited

  1. 0001193125-26-290829
    Item 5.07 Submission of Matters to a Vote of Security Holders.
  2. 0001104659-26-067065
    CEO Pay Ratio · Director Compensation · Grants of Plan-Based Awards · Outstanding Equity Awards at Fiscal Year End · and 2 more sections
  3. 0001193125-25-136315
    Item 5.07 Submission of Matters to a Vote of Security Holders.
  4. 0001104659-25-037545
    Summary Compensation Table
  5. 0000950170-25-022844
  6. 0001193125-24-156045
    Item 5.07 Submission of Matters to a Vote of Security Holders
  7. 0001104659-24-051304
    Summary Compensation Table
  8. 0001193125-23-165308
  9. 0001193125-23-115593
    Summary Compensation Table
  10. 0001193125-22-171962
  11. 0001193125-21-188364
  12. 0001193125-19-167194
  13. 0001193125-18-186797
  14. 0001193125-16-617446
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Devon Energy executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/DVN (accessed 2026).
Short form: data: Velarion

The Devon Energy brief, $1,500

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $1,200 for the board report; $2,400 for both.
Get the executive briefGet the board briefNo account needed.
14 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
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Peers Devon Energy discloses

The companies named in DVN's own disclosed peer group.

APA CorporationConocoPhillipsCoterra Energy Inc.Diamondback Energy, Inc.EOG Resources, Inc.Hess CorporationMarathon Oil CorporationOccidental Petroleum CorporationOvintiv, Inc.EQT CorporationExpand Energy CorporationPermian Resources Corporation

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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