OVV Form 4: Director Ralph Izzo Granted 39 Deferred Share Units

Rhea-AI Filing Summary

Ovintiv Inc. insider filing: Director Ralph Izzo received 39 Deferred Share Units (DSUs) on 09/29/2025, recorded as an acquisition. Each DSU equals one share of Ovintiv common stock and accrues dividend-equivalent DSUs instead of cash dividends. The DSUs are held until the director retires from the board. After this reported transaction, the reporting person beneficially owned 5,718 shares of common stock in a direct ownership form. The Form 4 was filed as a single reporting person filing and executed by a power of attorney on 10/01/2025.

Insights

Financial Analyst

TL;DR: Routine director compensation in DSUs; small, non-cash award that modestly increases insider holdings.

The reported 39 DSUs reflect compensation delivered as deferred equity equivalents, not an open-market purchase or sale. Because DSUs convert economically to one share each and include dividend equivalents, they modestly raise the director's direct stake to 5,718 shares. This is a standard governance compensation mechanism and does not indicate a change in trading intent or liquidity events. The transaction is immaterial to Ovintiv's market capitalization absent additional, larger insider transactions.

Corporate Governance Expert

TL;DR: Standard board compensation disclosure: DSUs held until retirement; typical and administratively routine.

Issuance of 39 DSUs as dividend equivalents is consistent with common deferred compensation practices for directors. The filing clarifies the deferral and dividend-equivalent treatment and confirms direct beneficial ownership of 5,718 shares following the award. No departures from typical governance disclosure norms are evident in this Form 4.

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

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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^*

IZZO RALPH

(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		39		(1)	(1)	Common Stock	39	$0(2)	5,718	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.
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