[Form 4] Civeo Corporation Insider Trading Activity

Rhea-AI Filing Summary

Andrew Fraser, President, Canada of Civeo Corp (CVEO), reported transactions on 08/19/2025. On that date 6,657 phantom shares vested; each phantom share is the economic equivalent of one common share payable in cash. The filing shows a corresponding disposition of 6,657 common shares sold at $22.08, leaving 0 common shares beneficially owned following the sale. The report also shows 20,677 common shares underlying phantom awards beneficially owned after the transactions.

Positive

• Timely Section 16 disclosure of officer transactions
• Clear explanation that phantom shares are cash-settled equivalents and 6,657 vested on 08/19/2025

Negative

• None.

Insights

Financial Analyst

TL;DR: Officer vesting and concurrent sale of 6,657 shares, proceeds at $22.08, routine compensation realization.

The filing documents a scheduled vesting of phantom share units that are economically equivalent to common shares and a contemporaneous disposition of common shares at $22.08 per share. The net effect reduced direct common share ownership to zero while leaving 20,677 underlying phantom-linked shares reported as beneficially owned. This appears to be a typical compensation-related transaction rather than an operational development.

Corporate Governance Expert

TL;DR: Disclosure meets Section 16 reporting requirements; shows compensation vesting mechanics and sale details.

The Form 4 shows timely disclosure of an officer-level vesting event and an offsetting sale. The explanation clarifies phantom shares are cash-settled equivalents and vest at scheduled dates; 6,657 vested on 08/19/2025. Reporting the price ($22.08) and resulting beneficial ownership provides transparency for governance oversight. No indication of unusual timing or regulatory issues is present in the filing itself.

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

OMB APPROVAL

OMB Number:			3235-0287
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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)
08/19/2025

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	08/19/2025		M		6,657	A	(1)	6,657	D
Common Shares	08/19/2025		D		6,657	D	$22.08	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)	08/19/2025		M			6,657	(1)	(1)	Common Shares	6,657	$0	20,677	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. 6,657 shares vested on August 19, 2025.

Remarks:

	/s/ Andrew Fraser, by Bradley J. Dodson, as Attorney-In-Fact	08/20/2025
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Andrew Fraser (CVEO) report on Form 4 dated 08/19/2025?

He reported 6,657 phantom shares vested and a sale/disposition of 6,657 common shares at $22.08, leaving 0 common shares directly owned.

What are the "phantom shares" mentioned in the CVEO Form 4?

Each phantom share is the economic equivalent of one common share payable in cash, and they vest at scheduled times per the filing.

How many shares underlying derivative awards does the filing show after the transactions?

20,677 common shares are reported as underlying derivative/phantom awards beneficially owned following the transactions.

At what price were the 6,657 common shares disposed of?

$22.08 per share as reported in the Form 4.

Who signed the Form 4 on behalf of the reporting person?

/s/ Andrew Fraser, by Bradley J. Dodson, as Attorney-In-Fact with the signature date shown as 08/20/2025.