Sec Form 4 Filing - McCann Peter @ Civeo Corp - 2020-02-21

Insider filing report for Changes in Beneficial Ownership
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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
McCann Peter
2. Issuer Name and Ticker or Trading Symbol
Civeo Corp [ CVEO]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
SVP, Australia
(Last) (First) (Middle)
333 CLAY STREET, SUITE 4980
3. Date of Earliest Transaction (MM/DD/YY)
02/21/2020
(Street)
HOUSTON, TX77002
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ 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 02/21/2020 M 15,417 A 365,757 D
Common Shares 02/21/2020 M 5,139 A 370,896 D
Common Shares 02/21/2020 D 5,139 D $ 1.44 365,757 D
Common Shares 02/21/2020 F 7,708 D $ 1.37 ( 3 ) 358,049 D
Common Shares 02/21/2020 A 107,917 ( 4 ) A $ 0 465,966 D
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
Deferred Shares ( 1 ) 02/21/2020 M 15,417 ( 1 ) ( 1 ) Common Shares 15,417 $ 0 100,004 D
Phantom Shares ( 2 ) 02/21/2020 M 5,139 ( 2 ) ( 2 ) Common Shares 5,139 ( 2 ) 94,865 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
McCann Peter
333 CLAY STREET, SUITE 4980
HOUSTON, TX77002
SVP, Australia
Signatures
/s/ Peter McCann, by Bradley J. Dodson, Attorney-in-Fact 02/25/2020
Signature of Reporting Person Date
Explanation of Responses:
( 1 )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.
( 2 )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.
( 3 )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.
( 4 )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.

Remarks:
Senior Vice President, Australia

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