SEC Form 4 · accession 0001667731-19-000077
ENCANA CORP · ECA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael Gerard McAllister
Officer — EVP & COO
Period of report
Mar 8, 2019
Accepted (ET)
Mar 11, 2019 · 12:02 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001157806
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common SharesF2 | Mar 8, 2019 | M | 137,465 | $7.16 | A | 173,842 | D | |
| Common SharesF2 | Mar 8, 2019 | D | 137,465 | $7.16 | D | 36,377 | D | |
| Common SharesF5,F4 | Mar 8, 2019 | M | 461,881 | $7.16 | A | 498,258 | D | |
| Common SharesF5,F4 | Mar 8, 2019 | D | 461,881 | $7.16 | D | 36,377 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Rights (Restricted Share Unit)F2,F1 | — | Mar 8, 2019 | M | 137,465 | D | Mar 8, 2019 | Mar 8, 2019 | Common Shares | 137,465 | 0 | D |
| Rights (Performance Share Unit)F4,F3 | — | Mar 8, 2019 | M | 271,331 | D | Mar 8, 2019 | Mar 8, 2019 | Common Shares | 271,331 | 0 | D |
Explanation of responses
- F1Each Restricted Share Unit (each, "RSU") is the economic equivalent of one common share of Encana Corporation and attracts dividend equivalent RSUs.
- F2The RSUs settled in Canadian dollars at a price of CAD$9.54 per RSU. The price has been converted to U.S. dollars using the Bank of Canada exchange rate on the transaction date.
- F3Each Performance Share Unit (each, "PSU") is settled based on the achievement of certain performance criteria, is valued based on the economic equivalent of one common share of Encana Corporation, and attracts dividend equivalent PSUs.
- F4The PSU is settled in Canadian dollars at a price of CAD$9.54 per share and is determined based on the volume-weighted average price of a common share of Encana Corporation on the Toronto Stock Exchange for the five trading days following approval of the performance criteria multiplier. The price has been converted to U.S. dollars using the Bank of Canada exchange rate on the transaction date.
- F5Settlement of the PSUs was based on a performance criteria multiplier of 168 percent.