McCann Peter 4

What Happened
Peter McCann, Senior Vice President — Australia for Civeo Corporation (CVEO), received a grant of 5,433 phantom shares (reported as a derivative award) on March 5, 2026. The award was recorded at $0.00 per share on the Form 4 because it is a time‑based phantom share award rather than an open‑market purchase or sale.

Key Details

• Transaction date: 2026-03-05; Form 4 filed 2026-03-06 (timely filing).
• Reported transaction: Grant/award (code A) — 5,433 phantom shares @ $0.00 (derivative).
• Shares owned after transaction: Not specified in the filing.
• Plan/footnote: Phantom Share Award under Civeo’s 2014 Equity Participation Plan.
• Vesting: Vests in equal installments on each of the first three anniversaries of March 5, 2026 (i.e., annually over three years).
• No immediate cash paid or shares issued at grant; value will depend on future stock price and payout/settlement terms.

Context
Phantom share awards are a form of deferred compensation that typically pay out in cash or shares upon vesting and do not involve an immediate market transaction. This grant is neither a purchase (a bullish signal) nor a sale; it’s a routine equity‑based compensation grant for an executive.