Chhina Sippy 4
4 · Ovintiv Inc. · Filed May 26, 2026
Research Summary
AI-generated summary of this filing
Ovintiv (OVV) Director Chhina Sippy Receives 3,505 RSUs; 1,739 Withheld
What Happened Chhina Sippy, a director of Ovintiv Inc., had 3,505 restricted share units (RSUs) settle/vest on May 21, 2026 and convert one-for-one into common shares. To satisfy tax withholding obligations, Ovintiv withheld 1,739 of those shares (reported as a disposition for tax payment) valued at $82.25 per RSU (used in the Canadian-dollar settlement), resulting in approximately $143,033 withheld. The net shares delivered to Sippy after withholding were 1,766.
Key Details
- Transaction date: May 21, 2026; Form 4 filed May 26, 2026 (filed late).
- Award/settlement: 3,505 RSUs settled upon vesting and converted into 3,505 common shares (reported as A and M codes).
- Tax withholding: 1,739 shares withheld (code F) to cover taxes; withholding value reported as $143,033 based on CAD$82.25 per RSU (VWAP methodology) converted to USD per Bank of Canada rate.
- Net shares received: 1,766 shares (3,505 vested − 1,739 withheld).
- Footnotes: RSUs are economic equivalents of one share and include dividend equivalents; RSUs convert one-for-one into common stock; includes 13 shares from reinvested/matching dividends not previously reported.
- Filing timeliness: The Form 4 was filed five days after the transaction date (late filing).
Context This was a routine equity compensation transaction (RSU vesting with cashless tax withholding), not an open‑market purchase or sale by the director. Cashless withholding to satisfy tax obligations is common when RSUs vest; it does not necessarily reflect the insider’s view of the stock. The entries labeled as exercise/conversion (M) and award (A) reflect the technical reporting of RSU settlement into shares.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F3][F4]2026-05-21+3,505→ 9,984 total - Tax Payment
Common Stock
[F5][F6][F7]2026-05-21$82.25/sh−1,739$143,033→ 8,245 total - Award
Restricted Share Unit
[F1]2026-05-21+3,505→ 3,505 totalFrom: 2026-05-21Exp: 2026-05-21→ Common Stock (3,505 underlying) - Exercise/Conversion
Restricted Share Unit
[F2]2026-05-21−3,505→ 0 totalFrom: 2026-05-21Exp: 2026-05-21→ Common Stock (3,505 underlying)
Footnotes (7)
- [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 and exercise will occur in accordance with the Omnibus Incentive Plan and the applicable grant agreement and on the same schedule as the underlying RSUs.
- [F2]Each RSU is the economic equivalent of one share of Ovintiv common stock and yields dividend equivalent RSUs.
- [F3]Represents the settlement upon vesting of RSUs.
- [F4]RSUs convert into Ovintiv common stock on a one-for-one basis.
- [F5]Reporting the withholding by Ovintiv of shares of Ovintiv common stock (from the shares of common stock issued upon settlement upon vesting of RSUs) to satisfy payment of tax withholding obligations.
- [F6]The RSUs settled in Canadian dollars at a price of CAD$82.25 per RSU and is determined based on the volume-weighted average price of one share of Ovintiv common stock as traded on the Toronto Stock Exchange for the five trading days immediately following the end of Ovintiv's Q1 financial reporting blackout on May 13, 2026. The price has been converted to U.S. dollars using the Bank of Canada exchange rate on the transaction date.
- [F7]Includes 13 shares of Ovintiv common stock acquired through matching/reinvested dividends not previously reported.