Givens Gregory Dean 4

What Happened
Gregory Dean Givens, EVP & COO of Ovintiv Inc., exercised 15,058 stock appreciation rights (SARs) and immediately disposed of the resulting 15,058 shares back to the issuer. The exercise was recorded at an effective cost of $35.80 per share (total $539,076) and the shares were disposed to the issuer at $50.59 per share (total proceeds $761,784), yielding gross proceeds of roughly $761.8K and a gross spread of about $222.7K before taxes/withholdings. The filing shows the derivative conversion line at $0, reflecting the SAR-to-share conversion.

Key Details

• Transaction date: 2026-02-27; Form 4 filed: 2026-03-03 (timely filing).
• Exercise (code M): 15,058 SARs at $35.80 — aggregate $539,076 (acquired).
• Disposition to issuer (code D): 15,058 shares at $50.59 — aggregate $761,784 (sold).
• Post-transaction shares owned: not provided in the supplied data.
• Footnote: F1 — Each Stock Appreciation Right is the economic equivalent of one share of Ovintiv common stock.
• Transaction codes: M = exercise/conversion of derivative; D = disposition to issuer (net/sale to company).

Context
This was effectively a cashless exercise/net settlement: SARs were converted and the resulting shares were sold back to the company (disposition to issuer) rather than an open-market sale. Such transactions are commonly used to cover exercise costs and tax withholding and are routine for executives; they do not on their own signal a change in long-term insider conviction.