Sec Form 4 Filing - Torgerson Lance @ Civeo Corp - 2022-12-23

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Torgerson Lance 2. Issuer Name and Ticker or Trading Symbol Civeo Corp [ CVEO] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director X __ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 9657 45 AVENUE NW 3. Date of Earliest Transaction (MM/DD/YY) 12/23/2022 (Street) EDMONTON, A0T6E 5Z8 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) _____ Form filed by One Reporting Person __ X __ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Shares 12/23/2022 C( 1 ) 1,504,539 A $ 0( 1 ) 1,719,188( 2 ) I Torlowna Investments Ltd. Common Shares 160,104 I 989677 Alberta Ltd.

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Class A Series 1 Preferred Shares $ 39.6 12/23/2022 C( 1 ) 5,425 04/02/2020 ( 3 ) Common Stock ( 1 ) $ 0( 1 ) 0 I Torgerson Family Trust

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Torgerson Lance 9657 45 AVENUE NW EDMONTON, A0T6E 5Z8 X Torgerson Tammy 9657 45 AVENUE NW EDMONTON, A0T6E 5Z8 X Signatures /s/ Lance Torgerson 12/23/2022 Signature of Reporting Person Date /s/ Tammy Torgerson 12/23/2022 Signature of Reporting Person Date

Explanation of Responses:

( 1 )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). ( 2 )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. ( 3 )The Preferred Shares would have mandatorily converted on June 30, 2023.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

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