SEC Form 4 · accession 0001590584-19-000040
Civeo Corp · CVEO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Frank Steininger
Officer — EVP, CFO & Treasurer
Period of report
Feb 23, 2019
Accepted (ET)
Feb 26, 2019 · 5:29 pm EST
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 SharesF1,F2 | Feb 23, 2019 | M | 129,629 | — | A | 702,384 | D | |
| Common Shares | Feb 23, 2019 | D | 129,629 | $2.62 | D | 572,755 | D | |
| Common SharesF3 | Feb 23, 2019 | A | 777,778 | $0.00 | A | 1,350,533 | D | |
| Common Shares | Feb 23, 2019 | F | 300,077 | $2.62 | D | 1,050,456 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom SharesF1 | — | Feb 23, 2019 | M | 64,815 | D | — | — | Common Shares | 64,815 | 0 | D |
| Restricted Share UnitsF2 | — | Feb 23, 2019 | M | 64,814 | D | — | — | Common Shares | 64,814 | 0 | D |
Explanation of responses
- F1Each phantom share is the economic equivalent of one Civeo common share and is payable in cash. The phantom shares vest at various times based on the grant date. 64,815 shares vested on February 23, 2019.
- F2Each restricted share unit is the economic equivalent of one Civeo common share and is payable in cash. The restricted share units vest at various times based on the grant date. 64,814 units vested on February 23, 2019.
- F3Settlement of performance share award under the 2014 Equity Participation Plan of Civeo Corporation that cliff vested at a 200% level on the third anniversary of February 23, 2016.
Remarks
Executive Vice President, Chief Financial Officer & Treasurer