[Form 4] Ovintiv Inc. Insider Trading Activity

Rhea-AI Filing Summary

Ovintiv director Peter A. Dea received 367 Deferred Share Units (DSUs) on 09/29/2025, each economically equivalent to one share of common stock and including dividend equivalents. These DSUs were issued in lieu of cash dividends for the third quarter of 2025 and are held until the director retires from the board. The reported transaction increased Dea's beneficial ownership to 53,611 shares on a direct basis. The filing was executed by power of attorney and provides no other transactions, cash purchases, sales, or option exercises.

Positive

• 367 Deferred Share Units granted in lieu of cash preserves company cash while aligning director interests with shareholders
• Beneficial ownership increased to 53,611 shares, signaling continued director stake in the company

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine director compensation in DSUs increases insider alignment with shareholders without immediate dilution or cash outlay.

This Form 4 discloses a customary grant of 367 Deferred Share Units to a non-employee director in lieu of cash dividends. DSUs mirror economic exposure to common stock and typically vest or remain until board retirement, which aligns director incentives with long-term shareholder value while conserving company cash. The transaction is non-cash and does not reflect share issuance now; instead it records the director's beneficial holding including dividend equivalents. For governance review, this is a standard disclosure and not indicative of material corporate change.

Securities Analyst

TL;DR: Insider received 367 DSUs, raising direct beneficial holdings to 53,611 shares; transaction is administrative and non-material to valuation.

The change reported is an administrative compensation adjustment where dividend equivalents were paid as DSUs for Q3 2025. Because DSUs are settled upon retirement and represent economic rights rather than a current issuance of shares, this does not immediately affect share count or cash flow. The size of the grant (367 DSUs) is small relative to total outstanding shares and unlikely to impact market perception or valuation metrics. Disclosure is timely and consistent with Section 16 reporting requirements.

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).

1. Name and Address of Reporting Person^*

DEA PETER A

(Last) (First) (Middle)

C/O 370 17TH STREET, SUITE 1700

(Street)

DENVER CO 80202

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Ovintiv Inc. [ OVV ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/29/2025

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

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
Deferred Share Unit	(1)	09/29/2025		A		367		(1)	(1)	Common Stock	367	$0(2)	53,611	D

Explanation of Responses:

1. Each Deferred Share Unit ("DSU") is the economic equivalent of one share of common stock of Ovintiv Inc. and yields dividend equivalent DSUs. DSUs are held until retirement from the Board.

2. Dividend equivalent DSUs received in lieu of cash dividends for the third quarter of 2025.

	/s/Dawna Gibb, by Power of Attorney	10/01/2025
	** 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 Peter A. Dea report on the Form 4 for Ovintiv (OVV)?

He reported receiving 367 Deferred Share Units (DSUs) on 09/29/2025, issued in lieu of cash dividends for Q3 2025.

What are Deferred Share Units (DSUs) reported on this Form 4?

DSUs are the economic equivalent of one share of common stock, include dividend equivalents, and are held until the director retires from the board.

How many shares does the reporting person beneficially own after the transaction?

The filing shows 53,611 shares beneficially owned following the reported transaction.

Does this Form 4 show any cash purchases or sales by the director?

No; the filing reflects a non-cash dividend-equivalent DSU grant rather than any cash purchase or sale.

When was the Form 4 signed and filed?

The signature by power of attorney is dated 10/01/2025.