Civeo Corp — Director's Dealing 2020

Feb 25, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Civeo Corp (CVEO)
CIK: 0001590584
Period of Report: 2020-02-21

Reporting Person: McCann Peter (SVP, Australia)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-02-21	Common Shares	M	15417	—	Acquired	365757	Direct
2020-02-21	Common Shares	M	5139	—	Acquired	370896	Direct
2020-02-21	Common Shares	D	5139	$1.44	Disposed	365757	Direct
2020-02-21	Common Shares	F	7708	$1.37	Disposed	358049	Direct
2020-02-21	Common Shares	A	107917	—	Acquired	465966	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-02-21	Deferred Shares	$	M	15417	Disposed		Common Shares (15417.0)	Direct
2020-02-21	Phantom Shares	$	M	5139	Disposed		Common Shares (5139.0)	Direct

Footnotes

F1: Each deferred share represents a contingent right to receive one Civeo common share. The deferred shares vest at various times based on the grant date. 15,417 deferred shares vested on February 21, 2020.

F2: Each phantom share was the economic equivalent of one Civeo common share and is payable in cash. The phantom shares vest at various times based on the grant date. 5,139 shares vested on February 21, 2020.

F3: On February 24, 2020, pursuant to a plan of disposition adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934 (the "10b5-1 Plan"), Mr. McCann sold 7,708 shares in multiple trades at prices ranging from $1.37 to $1.39. The price reported above reflects the weighted average price. Mr. McCann hereby undertakes to provide the Securities and Exchange Commission staff ("staff"), the issuer or any security holder of the issuer, upon request, full information regarding the number of shares and prices at which the transaction was effected.

F4: Settlement of performance share award under the 2014 Equity Participation Plan of Civeo Corporation that cliff vested at 175% on the third anniversary of February 21, 2017.