Bruce Gordon Waterman - May 18, 2022 Form 4 Insider Report for Ovintiv Inc. (OVV)

Role: Director
Signature: /s/Dawna Gibb, by Power of Attorney
Stock symbol: OVV
Transactions as of: May 18, 2022
Transactions value $: -$96,703
Form type: 4
Date filed: 5/19/2022, 07:03 PM
Previous filing: Apr 4, 2022
Next filing: Jul 5, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	OVV	Common Stock	Options Exercise		+4.48K	+4.08%		114K	May 18, 2022	Direct	F3, F5
transaction	OVV	Common Stock	Tax liability	-$96.7K	-2.15K	-1.88%	$45.02	112K	May 18, 2022	Direct	F4, F6

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	OVV	Restricted Share Unit	Award	$0	+4.48K	+18.89%	$0.00	28.2K	May 18, 2022	Common Stock	4.48K		Direct	F1
transaction	OVV	Restricted Share Unit	Options Exercise	$0	-4.48K	-15.89%	$0.00	23.7K	May 18, 2022	Common Stock	4.48K		Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each Restricted Share Unit (each, "RSU"') is the economic equivalent of one share of common stock of Ovintiv Inc. ("Ovintiv") and attracts dividend equivalent RSUs. Vesting and exercise will occur in accordance with the Omnibus Incentive Plan and the applicable grant agreement and on the same schedule as the underlying RSUs.
F2	Each RSU is the economic equivalent of one share of Ovintiv common stock and attracts dividend equivalent RSUs.
F3	Represents the settlement upon vesting of RSUs.
F4	Reporting the withholding by Ovintiv of shares of Ovintiv common stock (from the shares of common stock issued upon settlement upon vesting of RSUs) to satisfy payment of tax withholding obligations.
F5	RSUs convert into Ovintiv common stock on a one-for-one basis.
F6	The RSUs settled in Canadian dollars at a price of CAD$57.81 per RSU and is determined based on the volume-weighted average price of one share of Ovintiv common stock as traded on the Toronto Stock Exchange for the five trading days immediately following the end of Ovintiv's Q1 financial reporting blackout on May 10, 2022. The price has been converted to U.S. dollars using the Bank of Canada exchange rate on the transaction date.