SEC Form 3 · accession 0000899243-18-009748
Civeo Corp · CVEO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Torgerson Family Trust
10% Owner
Period of report
Apr 2, 2018
Accepted (ET)
Apr 9, 2018 · 5:00 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001590584
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Shares | holding | — | — | — | 24,686,306 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Class A Series 1 Preferred SharesF1,F2,F3 | $3.30 | holding | — | — | — | — | — | Common Shares | 29,330,303 | — | D |
Explanation of responses
- F1The Preferred Shares can be converted by the issuer at any time if the 15-day volume weighted average price of the Common Shares is equal to or exceeds the Conversion Price; the holders of the Preferred Shares will have the right to convert the Preferred Shares into Common Shares at any time after April 2, 2020.
- F2The Preferred Shares mandatorily convert after five years from the date of issuance.
- F3The Preferred Shares are convertible into the number of Common Shares at a rate of 3,030.3030 Common Shares per each $10,000 of Liquidation Preference. The Preferred Shares have an initial Liquidation Preference of $10,000 per share, which amount may be increased in connection with the accrual of dividends or the payment of in-kind dividends.