Ovintiv (OVV) CFO settles RSUs and PSUs, withholds shares for taxes
Rhea-AI Filing Summary
Ovintiv Inc. EVP & CFO Corey Douglas reported a series of equity-compensation transactions as RSUs and PSUs vested and converted into common stock. Over March 9–10, he exercised or settled derivative awards covering 55,576 shares of common stock. To cover tax obligations, Ovintiv withheld a total of 15,830 shares of common stock at prices around $52–53 per share, and an additional 22,598 shares were returned to the issuer. After these transactions, Douglas directly holds 160,607 shares of Ovintiv common stock and indirectly holds 939 shares through a TFSA account.
Positive
- None.
Negative
- None.
Insights
Routine vesting and settlement of Ovintiv CFO equity awards with tax withholding and issuer share return.
The transactions reflect RSU and PSU awards for 55,576 shares of Ovintiv common stock vesting and converting at no exercise price, consistent with standard executive compensation structures. Footnotes confirm one-for-one conversion and performance-based settlement for the PSUs.
To satisfy tax obligations, 15,830 shares were withheld, and 22,598 shares were disposed to the issuer, not sold in the open market. Following these actions, Corey Douglas holds 160,607 shares directly and 939 shares indirectly, indicating the filing documents compensation-related events rather than directional trading.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Share Unit | 13,494 | $0.00 | -- |
| Exercise | Common Stock | 13,494 | $0.00 | -- |
| Tax Withholding | Common Stock | 6,477 | $52.92 | $343K |
| Exercise | Restricted Share Unit | 19,484 | $0.00 | -- |
| Exercise | Performance Share Unit | 22,598 | $0.00 | -- |
| Exercise | Common Stock | 19,484 | $0.00 | -- |
| Tax Withholding | Common Stock | 9,353 | $52.46 | $491K |
| Exercise | Common Stock | 22,598 | $0.00 | -- |
| Disposition | Common Stock | 22,598 | $52.46 | $1.19M |
| holding | Common Stock | -- | -- | -- |
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 will occur on the exercise date in accordance with the Omnibus Incentive Plan and applicable grant agreement, and subject to the grantee's continued employment with Ovintiv through the applicable exercise date. Each Performance Share Unit ("PSU") is settled based on the achievement of certain performance criteria, is the economic equivalent of one share of common stock of Ovintiv and yields dividend equivalent PSUs. Settlement of the PSUs was based on a performance criteria multiplier of 84 percent. Represents the settlement upon vesting of RSUs. RSUs convert into Ovintiv common stock on a one-for-one basis. The RSUs and PSUs settled in Canadian dollars at a price of CAD$71.21 per RSU or PSU on March 9, 2026 and CAD$71.80 per RSU on March 10, 2026. The price has been converted to U.S. dollars using the Bank of Canada exchange rate on the transaction date. Reporting the withholding by Ovintiv of shares of Ovintiv common stock (from the shares of common stock issued upon settlement upon vesting of RSUs or PSUs, as applicable) to satisfy payment of tax withholding obligations. Represents the settlement upon vesting of PSUs. PSUs convert into Ovintiv common stock on a one-for-one basis. Includes Ovintiv common stock acquired through reinvested dividends and employee matching not previously reported.
