Form 4: Ovintiv Inc. EVP & CFO Douglas Code Reports Share Transactions
SEC Form 4
EVP & CFO of Ovintiv Inc., Douglas Code, reports the vesting and conversion of Restricted Share Units (RSUs) and Performance Share Units (PSUs) into common stock, along with associated tax withholding.
Summary
- On March 7, 2025, Douglas Code, EVP & CFO of Ovintiv Inc., settled 8,375 Restricted Share Units (RSUs) into common stock.
- On the same day, 4,021 shares were withheld for tax obligations at a price of $39.56 per share.
- Following these transactions, Code directly owned 132,551 shares of common stock.
- On March 10, 2025, Code settled 18,921 RSUs into common stock and 28,893 Performance Share Units (PSUs) into common stock.
- 9,083 shares were withheld for tax obligations on March 10, 2025, at a price of $38.78 per share.
- The settlement of PSUs was based on a performance criteria multiplier of 115 percent.
- Following these transactions, Code directly owned 142,389 shares of common stock.
- Code also indirectly owns 939 shares through a TFSA.
- Code acquired 13,104 Restricted Share Units (RSUs) that vest on March 10th in 2026, 2027 and 2028.
- After these transactions, Code directly owns 48,056 RSUs vesting on 03/07/2025, 61,160 RSUs vesting on 03/10/2026, 74,264 RSUs vesting on 03/10/2027, 87,368 RSUs vesting on 03/10/2028 and 68,447 RSUs vesting on 03/10/2025.
Sentiment
Score: 5
Explanation: This is a routine transaction filing, indicating standard executive compensation practices. It doesn't inherently suggest positive or negative sentiment.
Future Outlook
Vesting will occur on the exercise date in accordance with the Omnibus Incentive Plan and applicable grant agreement, and subject to the grantee's continued employment with Ovintiv through the applicable exercise date.
Industry Context
This filing is a routine disclosure related to executive compensation and equity awards, common in publicly traded companies.
Stakeholder Impact
- The transactions have a minor dilutive effect on existing shareholders due to the issuance of new shares upon vesting of RSUs and PSUs.
Key Dates
| Date | Description |
|---|---|
| 03/07/2025 | Settlement of 8,375 Restricted Share Units (RSUs) and withholding of 4,021 shares for tax obligations. |
| 03/10/2025 | Settlement of 18,921 RSUs and 28,893 Performance Share Units (PSUs), and withholding of 9,083 shares for tax obligations. |
| 03/11/2025 | Date of signature for the Form 4 filing. |
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