Civeo Corp — Director's Dealing 2022

Dec 27, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Civeo Corp (CVEO)
CIK: 0001590584
Period of Report: 2022-12-23

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-12-23	Common Shares	C	1504539	$0.00	Acquired	1719188	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-12-23	Class A Series 1 Preferred Shares	$39.60	C	5425	Disposed		Common Stock ()	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	160104	Indirect

Footnotes

F1: Each Class A Series 1 Preferred Share is convertible into approximately 277 common shares of the Issuer. On December 23, 2022, the Reporting Person converted 5,425 Class A Series 1 Preferred Shares, held indirectly by Torgerson Family Trust, into 1,504,539 common shares and transferred such common shares to Torlowna Investments Ltd. No consideration was received or paid in connection with such transfer, which was made for tax planning purposes. The conversion of the Class A Series 1 Preferred Shares at a fixed conversion price is exempt from short swing profit liability under Rule 16b-6(b).

F2: Consists of (i) 1,504,539 common shares from the conversion of 5,425 Class A Series 1 Preferred Shares reported herein, and (ii) 214,649 common shares transferred to Torlowna Investments Ltd. from Torgerson Family Trust, an affiliate of the reporting person on December 23, 2022.

F3: The Preferred Shares would have mandatorily converted on June 30, 2023.