Torgerson Lance 4
4 · Civeo Corp · Filed Dec 27, 2022
Insider Transaction Report
Form 4
Civeo CorpCVEO
Torgerson Lance
10% Owner
Transactions
- Conversion
Common Shares
2022-12-23+1,504,539→ 1,719,188 total(indirect: Torlowna Investments Ltd.) - Conversion
Class A Series 1 Preferred Shares
2022-12-23−5,425→ 0 total(indirect: By Trust)Exercise: $39.60From: 2020-04-02→ Common Stock
Holdings
- 160,104(indirect: 989677 Alberta Ltd.)
Common Shares
Footnotes (3)
- [F1]Each Class A Series 1 Preferred Share is convertible into approximately 277 common shares of the Issuer. On December 23, 2022, the Reporting Person converted 5,425 Class A Series 1 Preferred Shares, held indirectly by Torgerson Family Trust, into 1,504,539 common shares and transferred such common shares to Torlowna Investments Ltd. No consideration was received or paid in connection with such transfer, which was made for tax planning purposes. The conversion of the Class A Series 1 Preferred Shares at a fixed conversion price is exempt from short swing profit liability under Rule 16b-6(b).
- [F2]Consists of (i) 1,504,539 common shares from the conversion of 5,425 Class A Series 1 Preferred Shares reported herein, and (ii) 214,649 common shares transferred to Torlowna Investments Ltd. from Torgerson Family Trust, an affiliate of the reporting person on December 23, 2022.
- [F3]The Preferred Shares would have mandatorily converted on June 30, 2023.