Chhina Sippy 4

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.