||on january 15, 2021, pursuant to the agreement and plan of merger dated as of october 18, 2020 (the "merger agreement"), by and among concho resources inc. ("concho"), falcon merger sub corp. ("merger sub") and conocophillips ("conocophillips"), merger sub merged with and into concho (the "merger"), with concho surviving the merger as a wholly-owned subsidiary of conocophillips.
||pursuant to the merger agreement, each share of concho common stock issued and outstanding immediately prior to the effective time of the merger (including each outstanding concho restricted share held by the reporting person which vested per its terms upon the effective time of the merger) was converted into the right to receive 1.46 shares of conocophillips common stock. on january 14, 2021 (the day prior to the merger), the closing price of one share of conocophillips common stock was $47.87.
||these securities are owned by a trust, of which the reporting person is the sole trustee and his children are the only beneficiaries.
||the reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for section 16 or any other purpose.