Civeo Corp (CVEO) SVP reports phantom share vesting and issuer disposals

Rhea-AI Filing Summary

Civeo Corp senior vice president Peter McCann reported derivative-related share movements over two days. On March 2 and 3, 2026, he exercised phantom share awards into a total of 4,992 common shares at $0.00 per share and then disposed the same amounts back to the issuer at prices of $27.82 and $27.03 per share. His directly held common share balance remained 54,942 shares after these transactions, while his phantom share balance reflected vesting of 2,783 and 2,209 units that are economically equivalent to common shares and payable in cash.

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^*

McCann Peter

(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)
	SVP, Australia

3. Date of Earliest Transaction (Month/Day/Year)
03/02/2026

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	03/02/2026		M		2,783	A	$0(1)	57,725	D
Common Shares	03/02/2026		D		2,783	D	$27.82	54,942	D
Common Shares	03/03/2026		M		2,209	A	$0(2)	57,151	D
Common Shares	03/03/2026		D		2,209	D	$27.03	54,942	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)	03/02/2026		M			2,783	(1)	(1)	Common Shares	2,783	$0	9,411	D
Phantom Shares	(2)	03/03/2026		M			2,209	(2)	(2)	Common Shares	2,209	$0	7,202	D

Explanation of Responses:

1. Each phantom share was the economic equivalent of one Civeo common share and is payable in cash. The phantom shares vest at various times based on the grant date. 2,783 shares vested on March 2, 2026.

2. Each phantom share was the economic equivalent of one Civeo common share and is payable in cash. The phantom shares vest at various times based on the grant date. 2,209 shares vested on March 3, 2026.

Remarks:

	/s/ Peter McCann, by Bradley J. Dodson, 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).
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FAQ

What did Civeo (CVEO) executive Peter McCann report in this Form 4?

Peter McCann reported exercising phantom share awards into common shares and then disposing those shares back to Civeo. The transactions occurred on March 2 and 3, 2026, and involved 4,992 common shares in total across multiple derivative exercises and issuer dispositions.

How many Civeo common shares were involved in Peter McCann’s March 2026 transactions?

The filing shows derivative exercises into 2,783 and 2,209 Civeo common shares on March 2 and 3, 2026. Those same amounts, totaling 4,992 shares, were then disposed to the issuer in separate transactions at prices above $27 per share.

Did Peter McCann’s Civeo (CVEO) common share holdings change after these Form 4 transactions?

According to the filing, Peter McCann’s directly held Civeo common share balance remained 54,942 shares after each issuer disposition. Although 4,992 shares were acquired via derivative exercises and then disposed back, the reported total common shares held directly did not change.

What are the phantom shares mentioned in Peter McCann’s Civeo Form 4?

The phantom shares are awards economically equivalent to one Civeo common share each and payable in cash. Footnotes state they vest at various times. In this filing, 2,783 phantom shares vested on March 2, 2026, and 2,209 phantom shares vested on March 3, 2026.

Were Peter McCann’s Civeo Form 4 transactions open-market buys or sales?

The Form 4 codes show derivative exercises (code M) and dispositions to the issuer (code D), not open-market trades. Shares were acquired through exercising phantom share awards at $0.00 per share and then disposed back to Civeo at prices above $27 per share.

What prices were reported for Peter McCann’s Civeo share dispositions to the issuer?

The filing lists two dispositions of common shares to Civeo. On March 2, 2026, 2,783 shares were disposed at $27.82 per share. On March 3, 2026, 2,209 shares were disposed at $27.03 per share, both recorded as dispositions to the issuer.