Form 4: Civeo Corp Executive Barclay Brewer Reports Stock Transactions

Civeo Corp's Vice President and Controller, Barclay Brewer, reports the vesting and subsequent disposal of phantom shares, resulting in adjustments to his beneficial ownership.

Summary

• On February 23, 2024, Barclay Brewer, Vice President and Controller of Civeo Corp, vested 1,558 phantom shares, which were then disposed of at a price of $22.4.
• Following this transaction, Brewer directly owns 8,280 common shares.
• On February 25, 2024, Brewer vested an additional 2,110 phantom shares, which were also disposed of at a price of $22.4.
• After the second transaction, Brewer's direct ownership of common shares remained at 8,280.
• The reported transactions involve phantom shares that are economically equivalent to Civeo common shares and payable in cash.
• The remaining phantom shares vest at various times based on the grant date, with 7,336 phantom shares remaining after the February 23rd transaction and 5,226 phantom shares remaining after the February 25th transaction.

Sentiment

Score: 5

Explanation: This is a neutral report on stock transactions, with no inherent positive or negative implications for the company's performance.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, which is common in publicly traded companies. It provides transparency into the executive's holdings and transactions in the company's stock.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders, as they primarily reflect the vesting and disposal of phantom shares by an executive.

Key Dates