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Ovintiv Inc.·4

Mar 11, 5:11 PM ET

Code Corey Douglas 4

4 · Ovintiv Inc. · Filed Mar 11, 2026

Research Summary

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Ovintiv (OVV) CFO Corey Douglas Exercises Awards, Withholds Shares

What Happened

  • Corey Douglas, Executive Vice President & Chief Financial Officer of Ovintiv (OVV), had equity awards (RSUs and performance share units) convert/settle on March 9–10, 2026, resulting in 55,576 shares issued to him.
  • Of those shares, 38,428 were withheld or surrendered to the issuer to satisfy tax withholding and exercise/settlement obligations (9,353 shares at $52.46 and 22,598 shares at $52.46 on Mar 9; 6,477 shares at $52.92 on Mar 10), representing cash-equivalent value of approximately $2,018,912. Net shares retained after withholding: 17,148.
  • These transactions reflect award vesting/settlement and net share withholding rather than open‑market sales.

Key Details

  • Transaction dates and prices: March 9, 2026 (withholding/disposition priced at $52.46); March 10, 2026 (withholding priced at $52.92). Exercises/conversions reported with $0.00 per-share derivative entries reflect the settlement of RSUs/PSUs into common stock.
  • Total shares issued on settlement: 55,576; total shares withheld/surrendered: 38,428; net shares retained: 17,148.
  • Total cash value surrendered/withheld: about $2.02 million.
  • Notable footnotes: RSUs and PSUs convert one-for-one into common stock; PSUs were settled at 84% of target (performance multiplier). Settlements were denominated in CAD (CA$71.21 on Mar 9, CA$71.80 on Mar 10) and converted to USD using the Bank of Canada rate. Company withheld shares to meet tax/payment obligations.
  • Shares owned after the transaction were not specified in the filing.
  • Filing: Form 4 filed March 11, 2026 (covers transactions of Mar 9–10); filing appears within the standard Form 4 reporting window.

Context

  • This was a vesting/settlement event (derivative conversion of RSUs/PSUs) with net-share withholding to cover taxes/exercise — a routine, non–open-market outcome often used to satisfy withholding obligations.
  • Transaction codes: M = exercise/conversion of derivative (RSU/PSU settlement); F = payment of exercise price/tax liability (share withholding); D = disposition to issuer. These entries do not necessarily signal a buy/sell decision in the open market.

Insider Transaction Report

Form 4
Period: 2026-03-09
Ovintiv Inc.OVV
Code Corey Douglas
EVP & CFO
Transactions
  • Exercise/Conversion

    Common Stock

    [F4][F5]
    2026-03-09+19,484→ 162,943 total
  • Tax Payment

    Common Stock

    [F7][F6]
    2026-03-09$52.46/sh−9,353$490,658→ 153,590 total
  • Exercise/Conversion

    Common Stock

    [F8][F9]
    2026-03-09+22,598→ 176,188 total
  • Disposition to Issuer

    Common Stock

    [F3][F6]
    2026-03-09$52.46/sh−22,598$1,185,491→ 153,590 total
  • Exercise/Conversion

    Common Stock

    [F4][F5]
    2026-03-10+13,494→ 167,084 total
  • Tax Payment

    Common Stock

    [F7][F6][F10]
    2026-03-10$52.92/sh−6,477$342,763→ 160,607 total
  • Exercise/Conversion

    Restricted Share Unit

    [F1]
    2026-03-09−19,484→ 82,571 total
    From: 2026-03-09Exp: 2026-03-09→ Common Stock (19,484 underlying)
  • Exercise/Conversion

    Performance Share Unit

    [F2][F3]
    2026-03-09−22,598→ 0 total
    From: 2026-03-09Exp: 2026-03-09→ Common Stock (22,598 underlying)
  • Exercise/Conversion

    Restricted Share Unit

    [F1]
    2026-03-10−13,494→ 69,077 total
    From: 2026-03-10Exp: 2026-03-10→ Common Stock (13,494 underlying)
Holdings

  • Common Stock

    (indirect: TFSA)
    939
Footnotes (10)
  • [F1]Each Restricted Share Unit ("RSU") is the economic equivalent of one share of common stock of Ovintiv Inc. ("Ovintiv") and yields dividend equivalent RSUs. 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.
  • [F10]Includes Ovintiv common stock acquired through reinvested dividends and employee matching not previously reported.
  • [F2]Each Performance Share Unit ("PSU") is settled based on the achievement of certain performance criteria, is the economic equivalent of one share of common stock of Ovintiv and yields dividend equivalent PSUs.
  • [F3]Settlement of the PSUs was based on a performance criteria multiplier of 84 percent.
  • [F4]Represents the settlement upon vesting of RSUs.
  • [F5]RSUs convert into Ovintiv common stock on a one-for-one basis.
  • [F6]The RSUs and PSUs settled in Canadian dollars at a price of CAD$71.21 per RSU or PSU on March 9, 2026 and CAD$71.80 per RSU on March 10, 2026. The price has been converted to U.S. dollars using the Bank of Canada exchange rate on the transaction date.
  • [F7]Reporting the withholding by Ovintiv of shares of Ovintiv common stock (from the shares of common stock issued upon settlement upon vesting of RSUs or PSUs, as applicable) to satisfy payment of tax withholding obligations.
  • [F8]Represents the settlement upon vesting of PSUs.
  • [F9]PSUs convert into Ovintiv common stock on a one-for-one basis.
Signature
/s/Dawna Gibb, by Power of Attorney|2026-03-11

Documents

1 file
  • 4
    ownership.xmlPrimary

    4