Civeo Corp — Director's Dealing 2015

Apr 16, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Civeo Corp (CVEO)
CIK: 0001590584
Period of Report: 2014-08-29

Reporting Person: LAMBERT MARTIN (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-09-05	Common Stock	M	16039	—	Acquired	81680	Direct
2014-09-05	Common Stock	D	16039	$25	Disposed	65641	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-08-29	Phantom Stock	$	A	81	Acquired		Common Stock (81)	Direct
2014-09-05	Phantom Stock	$	M	16039	Disposed		Common Stock (16039)	Direct

Footnotes

F1: Reflects the non-volitional settlement of phantom stock resulting from the transfer of the Reporting Person's Deferred Compensation Plan Account (the "Account") from Oil States International, Inc., the company from which the Issuer spun-off on May 30, 2014, to the Issuer. Because the Issuer's common stock is not an investment option under the Issuer's Deferred Compensation Plan (the "Plan"), the Plan administrator (the "Administrator") disposed of the Issuer's common stock held by the Reporting Person in the Account. The Reporting Person had no investment control over the Administrator's decision to dispose of these holdings.

F2: Acquired pursuant to the Deferred Compensation Plan of Oil States International, Inc. (prior to the transfer described in Footnote 1) upon payment by Civeo Corporation of its quarterly dividend. Each share of phantom stock is the economic equivalent of one share of Civeo Corporation stock. The shares of phantom stock become payable in cash upon the Reporting Person's termination of service as a director.