Engine Capital details 7.9% Civeo (NYSE: CVEO) stake in filing

Rhea-AI Filing Summary

Engine Capital and its affiliates report a significant stake in Civeo Corp. Amendment No. 5 to their Schedule 13D shows they collectively may be deemed to beneficially own 911,930 common shares, or approximately 7.9% of Civeo, based on 11,515,223 shares outstanding as of October 24, 2025.

Engine Capital directly holds 768,827 shares, Engine Jet 65,461 shares, and Engine Lift 77,642 shares, with all entities reporting sole voting and dispositive power over their positions. Arnaud Ajdler, through his roles at the Engine entities, may be deemed to beneficially own the same 911,930 shares, while expressly disclaiming beneficial ownership beyond his direct interests.

Insights

Activist and ownership-structure analyst

Engine Capital discloses a 7.9% Civeo stake via multiple affiliated funds.

Engine Capital and its related entities report aggregate beneficial ownership of 911,930 Civeo shares, about 7.9% of the company, using an outstanding share count of 11,515,223 as of October 24, 2025. The filing clarifies how this stake is split across several funds and general partners.

The amendment restates Item 3 to show that Engine Capital, Engine Jet and Engine Lift acquired their positions using working capital, with approximate purchase costs of $18,161,959, $1,546,061 and $1,835,345 respectively, including commissions. It also updates Item 5 to detail sole voting and dispositive power for each entity.

Because this is a Schedule 13D/A, it primarily informs investors about ownership concentration and potential influence rather than announcing a specific corporate event. Future company filings may provide additional context on how this ownership interacts with governance and strategic decisions.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 5)

Civeo Corp

(Name of Issuer)

Common Shares, no par value

(Title of Class of Securities)

17878Y207

(CUSIP Number)

ANDREW FREEDMAN, ESQ.
OLSHAN FROME WOLOSKY LLP, 1325 Avenue of the Americas
New York, NY, 10019
212-451-2300

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

02/13/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 17878Y207

1

Name of reporting person

ENGINE CAPITAL, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 768,827.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 768,827.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

768,827.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

6.7 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP No. 17878Y207

1

Name of reporting person

Engine Jet Capital, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 65,461.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 65,461.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

65,461.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.6 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP No. 17878Y207

1

Name of reporting person

Engine Lift Capital, LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 77,642.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 77,642.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

77,642.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.7 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP No. 17878Y207

1

Name of reporting person

Engine Capital Management, LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 911,930.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 911,930.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

911,930.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

7.9 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP No. 17878Y207

1

Name of reporting person

Engine Capital Management GP, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 911,930.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 911,930.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

911,930.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

7.9 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP No. 17878Y207

1

Name of reporting person

Engine Investments, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 834,288.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 834,288.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

834,288.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

7.2 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP No. 17878Y207

1

Name of reporting person

Engine Investments II, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 77,642.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 77,642.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

77,642.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.7 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP No. 17878Y207

1

Name of reporting person

Ajdler Arnaud

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

BELGIUM

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 911,930.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 911,930.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

911,930.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

7.9 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Shares, no par value
(b)	Name of Issuer: Civeo Corp
(c)	Address of Issuer's Principal Executive Offices: THREE ALLEN CENTER, 333 CLAY STREET, SUITE 4400, HOUSTON, TEXAS , 77002.
Item 1 Comment: The following constitutes Amendment No. 5 to the Schedule 13D filed by the undersigned ("Amendment No. 5"). This Amendment No. 5 amends the Schedule 13D as specifically set forth herein. Unless otherwise defined herein, all capitalized terms used herein shall have the meanings given to them in the Schedule 13D.
Item 3.	Source and Amount of Funds or Other Consideration
	Item 3 is hereby amended and restated as follows: The Shares purchased by each of Engine Capital, Engine Jet and Engine Lift were purchased with working capital (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business). The aggregate purchase price of the 768,827 Shares beneficially owned by Engine Capital is approximately $18,161,959, including brokerage commissions. The aggregate purchase price of the 65,461 Shares beneficially owned by Engine Jet is approximately $1,546,061, including brokerage commissions. The aggregate purchase price of the 77,642 Shares beneficially owned by Engine Lift is approximately $1,835,345, including brokerage commissions.
Item 5.	Interest in Securities of the Issuer
(a)	Item 5(a) is hereby amended and restated as follows: The aggregate percentage of Shares reported owned by each person named herein is based upon 11,515,223 Shares outstanding as of October 24, 2025, which is the total number of Shares outstanding as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on October 31, 2025. A. Engine Capital As of the date hereof, Engine Capital directly owned 768,827 Shares. Percentage: Approximately 6.7% B. Engine Jet As of the date hereof, Engine Jet directly owned 65,461 Shares. Percentage: 0.6% C. Engine Lift As of the date hereof, Engine Lift directly owned 77,642 Shares. Percentage: 0.7% D. Engine Management Engine Management, as the investment manager of each of Engine Capital, Engine Jet and Engine Lift, may be deemed to beneficially own the 911,930 Shares owned in the aggregate by Engine Capital, Engine Jet and Engine Lift. Percentage: Approximately 7.9% E. Engine GP Engine GP, as the general partner of Engine Management, may be deemed to beneficially own the 911,930 Shares owned in the aggregate by Engine Capital, Engine Jet and Engine Lift. Percentage: Approximately 7.9% F. Engine Investments Engine Investments, as the general partner of each of Engine Capital and Engine Jet, may be deemed to beneficially own the 834,288 Shares owned in the aggregate by Engine Capital and Engine Jet. Percentage: Approximately 7.2% G. Engine Investments II Engine Investments II, as the general partner of Engine Lift, may be deemed to beneficially own the 77,642 Shares owned by Engine Lift. Percentage: 0.7% H. Arnaud Ajdler Mr. Ajdler, as the managing partner of Engine Management and the managing member of each of Engine GP, Engine Investments and Engine Investments II, may be deemed to beneficially own the 911,930 Shares owned in the aggregate by Engine Capital, Engine Jet and Engine Lift. Percentage: Approximately 7.9% The filing of this Schedule 13D shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer that he or it does not directly own. Each of the Reporting Persons specifically disclaims beneficial ownership of the securities reported herein that he or it does not directly own.
(b)	Item 5(b) is hereby amended and restated as follows: A. Engine Capital 1. Sole power to vote or direct vote: 768,827 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 768,827 4. Shared power to dispose or direct the disposition: 0 B. Engine Jet 1. Sole power to vote or direct vote: 65,461 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 65,461 4. Shared power to dispose or direct the disposition: 0 C. Engine Lift 1. Sole power to vote or direct vote: 77,642 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 77,642 4. Shared power to dispose or direct the disposition: 0 D. Engine Management 1. Sole power to vote or direct vote: 911,930 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 911,930 4. Shared power to dispose or direct the disposition: 0 E. Engine GP 1. Sole power to vote or direct vote: 911,930 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 911,930 4. Shared power to dispose or direct the disposition: 0 F. Engine Investments 1. Sole power to vote or direct vote: 834,288 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 834,288 4. Shared power to dispose or direct the disposition: 0 G. Engine Investments II 1. Sole power to vote or direct vote: 77,642 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 77,642 4. Shared power to dispose or direct the disposition: 0 H. Arnaud Ajdler 1. Sole power to vote or direct vote: 911,930 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 911,930 4. Shared power to dispose or direct the disposition: 0
(c)	Item 5(c) is hereby amended and restated as follows: The transactions in the Shares by certain of the Reporting Persons since the filing of Amendment No. 4 are set forth on Exhibit 1 attached hereto and are incorporated herein by reference
Item 7.	Material to be Filed as Exhibits.
	Item 7 is hereby amended to add the following exhibit: 1 - Transactions in the Shares since the filing of Amendment No. 4

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

ENGINE CAPITAL, L.P.

Signature:	/s/ Arnaud Ajdler
Name/Title:	Arnaud Ajdler, Managing Member of Engine Investments, LLC, its General Partner
Date:	02/18/2026

Engine Jet Capital, L.P.

Signature:	/s/ Arnaud Ajdler
Name/Title:	Arnaud Ajdler, Managing Member of Engine Investments, LLC, its General Partner
Date:	02/18/2026

Engine Lift Capital, LP

Signature:	/s/ Arnaud Ajdler
Name/Title:	Arnaud Ajdler, Managing Member of Engine Investments II, LLC, its General Partner
Date:	02/18/2026

Engine Capital Management, LP

Signature:	/s/ Arnaud Ajdler
Name/Title:	Arnaud Ajdler, Managing Member of Engine Capital Management GP, LLC, its General Partner
Date:	02/18/2026

Engine Capital Management GP, LLC

Signature:	/s/ Arnaud Ajdler
Name/Title:	Arnaud Ajdler, Managing Member
Date:	02/18/2026

Engine Investments, LLC

Signature:	/s/ Arnaud Ajdler
Name/Title:	Arnaud Ajdler, Managing Member
Date:	02/18/2026

Engine Investments II, LLC

Signature:	/s/ Arnaud Ajdler
Name/Title:	Arnaud Ajdler, Managing Member
Date:	02/18/2026

Ajdler Arnaud

Signature:	/s/ Arnaud Ajdler
Name/Title:	Arnaud Ajdler
Date:	02/18/2026

FAQ

What ownership stake in Civeo Corp (CVEO) does Engine Capital report?

Engine Capital and its related entities report beneficial ownership of approximately 911,930 Civeo common shares, or about 7.9% of the company, based on 11,515,223 shares outstanding as of October 24, 2025, as disclosed in this Schedule 13D amendment.

How many Civeo (CVEO) shares does each Engine fund directly own?

Engine Capital directly owns 768,827 Civeo shares, Engine Jet owns 65,461 shares, and Engine Lift owns 77,642 shares. Each entity reports sole voting and sole dispositive power over its position, according to the amended Schedule 13D disclosure.

How did Engine Capital finance its Civeo (CVEO) share purchases?

Engine Capital, Engine Jet, and Engine Lift purchased Civeo shares using working capital, which may include ordinary-course margin loans. Their approximate aggregate purchase prices are $18,161,959, $1,546,061, and $1,835,345 respectively, including brokerage commissions, as detailed in the amended Item 3.

What role does Arnaud Ajdler play in Engine’s Civeo (CVEO) holdings?

Arnaud Ajdler is managing partner of Engine Management and managing member of Engine GP, Engine Investments, and Engine Investments II. Through these roles, he may be deemed to beneficially own 911,930 Civeo shares, or about 7.9%, while disclaiming beneficial ownership beyond his direct interests.

What Civeo (CVEO) share count did Engine use to calculate its ownership percentage?

The Engine entities based their ownership percentages on 11,515,223 Civeo common shares outstanding as of October 24, 2025. This figure comes from Civeo’s Form 10-Q filed on October 31, 2025, which the Schedule 13D amendment specifically cites.

Does Engine Capital share voting or dispositive power over Civeo (CVEO) shares?

The filing states that Engine Capital, Engine Jet, and Engine Lift each hold sole power to vote and dispose of their Civeo shares, with zero shared voting or dispositive power reported. Related general partner entities mirror these sole powers over the aggregated positions.