Ovintiv EVP & COO exercises 71,073 share units
Ovintiv Inc. EVP & COO Gregory Dean Givens reported compensation-related share activity involving restricted and performance share units.
Rhea-AI Filing Summary
Ovintiv Inc. EVP & COO Gregory Dean Givens reported compensation-related share activity involving restricted and performance share units. On March 9–10, he exercised RSUs and PSUs that converted into a total of 71,073 shares of Ovintiv common stock, consistent with the company’s Omnibus Incentive Plan and related grant agreements.
To cover tax withholding obligations, 15,831 shares of common stock were withheld, including shares issued upon RSU and PSU settlement at prices of $52.07 and $52.62 per share. After these transactions, Givens directly holds 130,266 shares of Ovintiv common stock and indirectly holds 2,813 shares through a 401(k) plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
71,073 shares exercised/converted
Exercise
10 txns
Insider
Givens Gregory Dean
Role
EVP & COO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Share Unit | 15,502 | $0.00 | $0.00 |
| Exercise | Common Stock | 15,502 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 6,100 | $52.62 | $321K |
| Exercise | Restricted Share Unit | 24,728 | $0.00 | $0.00 |
| Exercise | Performance Share Unit | 30,843 | $0.00 | $0.00 |
| Exercise | Common Stock | 24,728 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 9,731 | $52.07 | $507K |
| Exercise | Common Stock | 30,843 | $0.00 | $0.00 |
| Disposition | Common Stock | 30,843 | $52.07 | $1.61M |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Share Unit — 171,244 contracts (Direct);
Performance Share Unit — 0 contracts (Direct);
Common Stock — 130,266 shares (Direct);
Common Stock — 2,813 shares (Indirect, 401(k))
Footnotes (9)
- F1. 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.
- F2. 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.
- F3. Settlement of the PSUs was based on a performance criteria multiplier of 84 percent.
- F4. Represents the settlement upon vesting of RSUs.
- F5. RSUs convert into Ovintiv common stock on a one-for-one basis.
- F6. 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.
- F7. Represents the settlement upon vesting of PSUs.
- F8. PSUs convert into Ovintiv common stock on a one-for-one basis.
- F9. Includes Ovintiv common stock acquired through reinvested dividends and employee matching not previously reported.
FAQ
What insider transactions did Ovintiv (OVV) EVP & COO Gregory Dean Givens report?
Gregory Dean Givens reported exercising restricted and performance share units that converted into 71,073 shares of Ovintiv common stock. The transactions reflect equity awards vesting under the Omnibus Incentive Plan, rather than open-market buying or selling activity.
Were any of Gregory Dean Givens’ Ovintiv (OVV) Form 4 transactions open-market sales?
The Form 4 shows no open-market sales. Dispositions were coded as F tax-withholding events and a D disposition to the issuer, meaning shares were used to satisfy tax liabilities or returned to Ovintiv rather than sold on the open market.
What role did tax withholding play in Gregory Dean Givens’ Ovintiv (OVV) equity transactions?
Tax obligations were satisfied by withholding 15,831 shares of Ovintiv common stock at prices of $52.07 and $52.62. These F-code dispositions are administrative and relate to income taxes on vested RSUs and PSUs, not discretionary stock sales.
What do Ovintiv (OVV) RSUs and PSUs represent in Gregory Dean Givens’ compensation?
Each RSU or PSU is the economic equivalent of one Ovintiv common share and includes dividend-equivalent units. RSUs vest over time with continued employment, while PSUs settle based on achieving specified performance criteria before converting into common stock.
AI-generated analysis. How Rhea-AI works. Not financial advice.
