Ovintiv Inc. — Director's Dealing 2020

Feb 28, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Ovintiv Inc. (OVV)
CIK: 0001792580
Period of Report: 2020-02-27

Reporting Person: Alexander Joanne Linette (EVP, General Counsel & CorpSec)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-02-27	Common Stock	M	3660	$12.68	Acquired	6168	Direct
2020-02-27	Common Stock	D	3660	$12.68	Disposed	2508	Direct
2020-02-27	Common Stock	M	9002	$12.68	Acquired	11510	Direct
2020-02-27	Common Stock	D	9002	$12.68	Disposed	2508	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-02-27	Rights (Restricted Stock Unit)	$	M	3660	Disposed	2020-02-27	Common Stock (3660)	Direct
2020-02-27	Rights (Performance Stock Unit)	$	M	9002	Disposed	2020-02-27	Common Stock (9002)	Direct

Footnotes

F1: Pursuant to Rule 12g-3(a) under the Exchange Act, Ovintiv is the successor issuer to Encana Corporation ("Encana").

F2: On January 24, 2020, Encana completed a corporate reorganization (the "Reorganization") which included, among other things, a share consolidation on the basis of one post-consolidation share for each five pre-consolidation shares (the "Share Consolidation") and Ovintiv Inc. ultimately acquiring all of the issued and outstanding common shares of Encana in exchange for shares of Ovintiv on a one-for-one basis. The amount of securities beneficially owned reflect completion of the Reorganization, including the Share Consolidation.

F3: Each Restricted Share Unit (each, "RSU") is the economic equivalent of one share of Ovintiv Inc. common stock and attracts dividend equivalent RSUs.

F4: The RSUs settled in Canadian dollars at a price of CAD$17.11 per RSU. The price has been converted to U.S. dollars using the Bank of Canada exchange rate on the transaction date.

F5: Each Performance Share Unit (each, "PSU") is settled based on the achievement of certain performance criteria, is valued based on the economic equivalent of one common share of Ovintiv Inc. common stock and attracts dividend equivalent PSUs.

F6: The PSU is settled in Canadian dollars at a price of CAD$17.11 per share and is determined based on the volume-weighted average price of one share of common stock of Ovintiv Inc. on the Toronto Stock Exchange for the five trading days following approval of the performance criteria multiplier. The price has been converted to U.S. dollars using the Bank of Canada exchange rate on the transaction date.

F7: Settlement of the PSUs was based on a performance criteria multiplier of 123 percent.