Torgerson Family Trust 4
4 · Civeo Corp · Filed Mar 8, 2019
Insider Transaction Report
Form 4
Civeo CorpCVEO
Torgerson Family Trust
10% Owner
Transactions
- Other
Class A Series 1 Preferred Shares
2018-12-19$9448.33/sh−637$6,018,586→ 9,042 totalExercise: $3.30→ Common Stock (1,930,303.011 underlying)
Footnotes (5)
- [F1]Forfeiture of shares pursuant to escrow agreement entered into on April 2, 2018 in connection with the acquisition of Noralta Lodge Ltd. by the Issuer. The shares were forfeited in connection with a post-closing purchase price adjustment.
- [F2]The 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.
- [F3]The Preferred Shares mandatorily convert after five years from the date of issuance.
- [F4]The 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.
- [F5]Pursuant to the escrow agreement, the shares were to be valued at CAD$12,708 for purposes of the purchase price adjustment. $9,448.33 represents the the USD equivalent of CAD$12,708 based on the exchange rate on December 19, 2018.