SEC Form 4 · accession 0001437749-15-007548

Civeo Corp · CVEO

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Director

Period of report

Aug 29, 2014

Accepted (ET)

Apr 16, 2015 · 7:12 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 Stock^F1	Sep 5, 2014	M	16,039	—	A	81,680	D
Common Stock	Sep 5, 2014	D	16,039	$25.00	D	65,641	D

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Phantom Stock^F2	—	Aug 29, 2014	A	81	A	—	—	Common Stock	81	16,039	D
Phantom Stock^F1	—	Sep 5, 2014	M	16,039	D	—	—	Common Stock	16,039	0	D

F1Reflects the non-volitional settlement of phantom stock resulting from the transfer of the Reporting Person's Deferred Compensation Plan Account (the "Account") from Oil States International, Inc., the company from which the Issuer spun-off on May 30, 2014, to the Issuer. Because the Issuer's common stock is not an investment option under the Issuer's Deferred Compensation Plan (the "Plan"), the Plan administrator (the "Administrator") disposed of the Issuer's common stock held by the Reporting Person in the Account. The Reporting Person had no investment control over the Administrator's decision to dispose of these holdings.
F2Acquired pursuant to the Deferred Compensation Plan of Oil States International, Inc. (prior to the transfer described in Footnote 1) upon payment by Civeo Corporation of its quarterly dividend. Each share of phantom stock is the economic equivalent of one share of Civeo Corporation stock. The shares of phantom stock become payable in cash upon the Reporting Person's termination of service as a director.