filings.toolsItem 1A. Risk Factors
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Item 1A. Risk Factors
There have been no material changes to the information included in Item 1A. “Risk Factors” in our 2025 Annual Report on Form 10-K.
Item 2. Unregistered Sales of Equi****ty Securities and Use of Proceeds
The following table provides information regarding purchases of our common stock that were made by us during the first quarter of 2026 (shares in thousands).
| Period | Total Number of Shares Purchased (1) | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (2) | Maximum Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs (2) | ||||||||||||
| January 1 - January 31 | 1,851 | $ | 37.39 | 1,850 | $ | 538 | ||||||||||
| February 1 - February 28 | 577 | $ | 43.48 | — | $ | 538 | ||||||||||
| March 1 - March 31 | 2 | $ | 43.76 | — | $ | 538 | ||||||||||
| Total | 2,430 | $ | 38.84 | 1,850 |
(1)
In addition to shares purchased under the share repurchase program described below, these amounts include approximately 0.6 million shares received by us from employees for the payment of personal income tax withholdings on vesting transactions.
(2)
On November 2, 2021, we announced a $1.0 billion share repurchase program that would expire on December 31, 2022. Through subsequent approvals, including most recently in July 2024, Devon's Board of Directors expanded the share repurchase program authorization to $5.0 billion, with a June 30, 2026 expiration date. In the first quarter of 2026, we repurchased 1.9 million common shares for $69 million, or $37.39 per share, under this share repurchase program. For additional information, see Note 16 in “Part I. Financial Information – Item 1. Financial Statements” in this report.
Item 3. Defaults Upo****n Senior Securities
Not applicable.
Item 4. Mine Saf****ety Disclosures
Not applicable.
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