Ovintiv (OVV) director reports RSU vesting, tax share withholding in Form 4
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Ovintiv Inc. director Sippy Chhina reported compensation-related equity activity tied to restricted share units (RSUs). Chhina exercised 3,505 RSUs into common stock and received a new grant of 3,505 RSUs, each economically equivalent to one Ovintiv share. Ovintiv withheld 1,739 common shares at $82.25 per share to cover tax obligations, a non-market disposition. Footnotes note the RSUs convert one-for-one into common stock, settle based on a Toronto Stock Exchange volume-weighted average price translated from CAD$82.25, and that current holdings include 13 dividend-reinvestment shares. Following these transactions, the filing shows Chhina directly holding 9,984 common shares, reflecting a net increase in equity ownership from RSU vesting rather than open-market trading.
Positive
- None.
Negative
- None.
Insider Trade Summary
3,505 shares exercised/converted
Mixed
4 txns
Insider
Chhina Sippy
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Share Unit | 3,505 | $0.00 | -- |
| Exercise | Restricted Share Unit | 3,505 | $0.00 | -- |
| Exercise | Common Stock | 3,505 | $0.00 | -- |
| Tax Withholding | Common Stock | 1,739 | $82.25 | $143K |
Holdings After Transaction:
Restricted Share Unit — 3,505 shares (Direct, null);
Common Stock — 9,984 shares (Direct, null)
Footnotes (1)
- Each Restricted Share Unit ("RSU") is the economic equivalent of one share of common stock of Ovintiv Inc. ("Ovintiv") and yields dividend equivalent RSUs. Vesting and exercise will occur in accordance with the Omnibus Incentive Plan and the applicable grant agreement and on the same schedule as the underlying RSUs. Each RSU is the economic equivalent of one share of Ovintiv common stock and yields dividend equivalent RSUs. Represents the settlement upon vesting of RSUs. RSUs convert into Ovintiv common stock on a one-for-one basis. Reporting the withholding by Ovintiv of shares of Ovintiv common stock (from the shares of common stock issued upon settlement upon vesting of RSUs) to satisfy payment of tax withholding obligations. The RSUs settled in Canadian dollars at a price of CAD$82.25 per RSU and is determined based on the volume-weighted average price of one share of Ovintiv common stock as traded on the Toronto Stock Exchange for the five trading days immediately following the end of Ovintiv's Q1 financial reporting blackout on May 13, 2026. The price has been converted to U.S. dollars using the Bank of Canada exchange rate on the transaction date. Includes 13 shares of Ovintiv common stock acquired through matching/reinvested dividends not previously reported.
Key Figures
RSUs exercised: 3,505 units
New RSU grant: 3,505 units
Shares withheld for taxes: 1,739 shares
+4 more
7 metrics
RSUs exercised
3,505 units
Restricted share units settled into common stock on May 21, 2026
New RSU grant
3,505 units
Grant of restricted share units on May 21, 2026
Shares withheld for taxes
1,739 shares
Tax-withholding disposition at $82.25 per share
Tax withholding price
$82.25/share
Price per Ovintiv common share used for withholding
RSU settlement reference price
CAD$82.25
TSX VWAP in Canadian dollars for RSU settlement conversion
Shares held after transactions
9,984 shares
Direct Ovintiv common stock ownership reported post-transaction
Dividend reinvestment shares
13 shares
Common shares from matching/reinvested dividends now included
Key Terms
Restricted Share Unit, dividend equivalent RSUs, tax withholding obligations, derivative security, +2 more
6 terms
dividend equivalent RSUs financial
"Each Restricted Share Unit ("RSU") is the economic equivalent of one share of common stock... and yields dividend equivalent RSUs."
tax withholding obligations financial
"withholding by Ovintiv of shares of Ovintiv common stock... to satisfy payment of tax withholding obligations."
derivative security financial
"transaction_code_description": "Exercise or conversion of derivative security""
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
volume-weighted average price financial
"determined based on the volume-weighted average price of one share of Ovintiv common stock as traded on the Toronto Stock Exchange"
Volume-weighted average price (VWAP) is the average price of a stock over a specific time period where each trade is weighted by the number of shares traded, so larger trades influence the average more than small ones. Investors and traders use VWAP as a reference point to judge whether trades are happening at relatively good or poor prices—like checking the average price paid for an item at a market where bulk purchases count more than single-item buys.
Omnibus Incentive Plan financial
"Vesting and exercise will occur in accordance with the Omnibus Incentive Plan and the applicable grant agreement"
An omnibus incentive plan is a single, flexible program a company uses to give employees and executives different types of pay tied to performance — for example stock options, restricted shares, cash bonuses and other awards — all governed by one set of rules. It matters to investors because it determines how many new shares may be created, how leaders are motivated and how much the company will spend on compensation over time; think of it as a master toolbox that affects both costs and the total share supply.
