McCracken Brendan Michael 4

What happened

• Brendan McCracken, President & CEO and a director of Ovintiv (OVV), had RSUs and PSUs vest/settle on March 9–10, 2026 and converted those awards into common stock (exercise/conversion of derivatives). He acquired a total of 188,687 shares from those settlements (65,163; 79,675; 43,849). To satisfy tax withholding and as part of settlement, 127,370 shares were withheld/disposed (28,510; 79,675; 19,185) for proceeds totaling about $6,642,708 (three dispositions at $52.07 and $52.62). Net result: +61,317 shares (188,687 acquired less 127,370 disposed).

Key details

• Transaction dates: March 9 and March 10, 2026. Form 4 filed March 11, 2026 (timely).
• Acquired on exercise/conversion: 188,687 shares (65,163 + 79,675 + 43,849).
• Disposed/withheld: 127,370 shares (28,510 @ $52.07 = $1,484,516; 79,675 @ $52.07 = $4,148,677; 19,185 @ $52.62 = $1,009,515). Total proceeds ≈ $6,642,708.
• Net increase in his holdings from these transactions: 61,317 shares.
• Transaction codes: M = exercise/conversion of derivative (RSU/PSU vesting); F = shares withheld to satisfy tax withholding; D = disposition to issuer.
• Footnotes of note: PSUs settled at 84% of target (F3); RSUs/PSUs convert on a one-for-one basis into common stock (F5, F8); withheld shares were used to satisfy tax obligations (F6). Some reinvested dividends and matching shares may be included (F9).
• Shares owned after the transaction are not specified in the excerpt of the Form 4.

Context

• These transactions represent award settlements (RSUs/PSUs) followed by share withholding/sale to cover taxes and settlement obligations — commonly called a "sell-to-cover" or issuer disposition rather than an open-market discretionary sale. PSUs were settled below target (84%), per the filing. There is no open-market purchase reported.