Civeo Corp — Director's Dealing 2018

Apr 9, 2018

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: Civeo Corp (CVEO)
CIK: 0001590584
Period of Report: 2018-04-02

Reporting Person: Torgerson Lance (10% Owner)
Reporting Person: Torgerson Tammy (10% Owner)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	24686306	Indirect
Common Shares	8104562	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Class A Series 1 Preferred Shares	$3.30		Common Shares (29330302.737)		Indirect

Footnotes

F1: As trustees of the Torgerson Family Trust. Each of the reporting persons serves as a co-trustee of the trust and is a current or future beneficiary thereof. Each of the reporting persons disclaims beneficial ownership of the reported securities except to the extent of his/her pecuniary interest therein.

F2: Shares owned by 989677 Alberta Ltd., of which Lance Torgerson owns, indirectly, 100% of the voting shares. Tammy Torgerson disclaims beneficial ownership of the shares, which are beneficially owned, indirectly, by Lance Torgerson, her spouse.

F3: The Preferred Shares can be converted by the issuer at any time if the 15-day volume weighted average price of the Common Shares is equal to or exceeds the Conversion Price; the holders of the Preferred Shares will have the right to convert the Preferred Shares into Common Shares at any time after April 2, 2020.

F4: The Preferred Shares mandatorily convert after five years from the date of issuance.

F5: The Preferred Shares are convertible into the number of Common Shares at a rate of 3,030.3030 Common Shares per each $10,000 of Liquidation Preference. The Preferred Shares have an initial Liquidation Preference of $10,000 per share, which amount may be increased in connection with the accrual of dividends or the payment of in-kind dividends.