Civeo (CVEO) executive converts 2,454 phantom units, disposes shares

Rhea-AI Filing Summary

Civeo Corp executive Andrew Fraser, President, Canada, reported the vesting and settlement of equity awards. On March 3, 2026, 2,454 phantom shares, each economically equivalent to one Civeo common share and payable in cash, vested and were exercised into 2,454 common shares at a price of $0.00 per share. Those 2,454 common shares were then disposed of to the issuer at $27.03 per share, leaving 0 common shares from this grant and 18,223 phantom shares remaining under his direct ownership.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Fraser Andrew

(Last) (First) (Middle)

333 CLAY STREET

SUITE 4400

(Street)

HOUSTON TX 77002

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Civeo Corp [ CVEO ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President, Canada

3. Date of Earliest Transaction (Month/Day/Year)
03/03/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares	03/03/2026		M		2,454	A	$0(1)	2,454	D
Common Shares	03/03/2026		D		2,454	D	$27.03	0	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Shares	(1)	03/03/2026		M			2,454	(1)	(1)	Common Shares	2,454	$0	18,223	D

Explanation of Responses:

1. Each phantom share was the economic equivalent of one Civeo common share payable in cash. The phantom shares vest at various times based on grant date. 2,454 shares vested on March 3, 2026.

Remarks:

	/s/ Andrew Fraser, by Bradley J. Dodson, as Attorney-In-Fact	03/03/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What insider transaction did Civeo (CVEO) report for Andrew Fraser?

Andrew Fraser reported vesting and settlement of equity awards involving 2,454 phantom shares. These were converted into 2,454 common shares at $0.00 per share, then disposed of to Civeo at $27.03 per share on March 3, 2026.

How many Civeo phantom shares vested for Andrew Fraser on March 3, 2026?

A total of 2,454 phantom shares vested for Andrew Fraser on March 3, 2026. Each phantom share was economically equivalent to one Civeo common share and was payable in cash in connection with this vesting event.

What does the Form 4 show about Andrew Fraser’s Civeo common share holdings?

The Form 4 shows Andrew Fraser acquired 2,454 Civeo common shares via derivative exercise and then disposed of all 2,454 shares to the issuer at $27.03 per share, resulting in zero common shares remaining from this specific grant.

What was the transaction price for Andrew Fraser’s Civeo common share disposition?

Andrew Fraser’s disposition of 2,454 Civeo common shares to the issuer was priced at $27.03 per share. This followed a derivative exercise where he received the shares at $0.00 per share before immediately transferring them back to Civeo.

How many phantom shares does Andrew Fraser hold in Civeo after these transactions?

After the reported transactions, Andrew Fraser directly holds 18,223 phantom shares in Civeo. These phantom shares are cash-settled instruments, each economically equivalent to one Civeo common share, vesting at various times based on their original grant dates.

Are Andrew Fraser’s Civeo phantom shares equivalent to common shares?

Each phantom share is economically equivalent to one Civeo common share but is payable in cash rather than stock. The Form 4 notes the phantom shares vest over time based on grant date, with 2,454 shares vesting on March 3, 2026.