Rachel Maureen Moore - Aug 8, 2023 Form 4 Insider Report for Ovintiv Inc. (OVV)

Role: EVP, Corporate Services
Signature: /s/Dawna Gibb, by Power of Attorney
Stock symbol: OVV
Transactions as of: Aug 8, 2023
Transactions value $: -$1,014,806
Form type: 4
Date filed: 8/9/2023, 05:31 PM
Previous filing: Jul 5, 2023
Next filing: Oct 2, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	OVV	Common Stock	Options Exercise		+7.5K	+19.69%		45.6K	Aug 8, 2023	Direct	F2, F3
transaction	OVV	Common Stock	Tax liability	-$166K	-3.6K	-7.9%	$46.22	42K	Aug 8, 2023	Direct	F4, F9
transaction	OVV	Common Stock	Options Exercise		+38.2K	+91.11%		80.2K	Aug 8, 2023	Direct	F6, F7, F8
transaction	OVV	Common Stock	Tax liability	-$848K	-18.4K	-22.88%	$46.22	61.9K	Aug 8, 2023	Direct	F4, F9

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	Options Exercise	$0	-7.5K	-20.99%	$0.00	28.2K	Aug 8, 2023	Common Stock	7.5K		Direct	F1
transaction	OVV	Performance Share Unit	Options Exercise	$0	-38.2K	-100%	$0.00^*	0	Aug 8, 2023	Common Stock	38.2K		Direct	F5, F6

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

Explanation of Responses:

Id	Content
F1	Each Restricted Share Unit ("RSU") is the economic equivalent of one share of common stock of Ovintiv Inc. ("Ovintiv") and yields dividend equivalent RSUs. Vesting will occur on the exercise date in accordance with the Omnibus Incentive Plan and applicable grant agreement, and subject to the grantee's continued employment with Ovintiv through the applicable exercise date.
F2	Represents the settlement upon vesting of RSUs.
F3	RSUs convert into Ovintiv common stock on a one-for-one basis.
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 or PSUs, as applicable) to satisfy payment of tax withholding obligations.
F5	Each Performance Share Unit ("PSU") is settled based on the achievement of certain performance criteria, is the economic equivalent of one share of common stock of Ovintiv and yields dividend equivalent PSUs.
F6	Settlement of the PSUs was based on a performance criteria multiplier of 170 percent.
F7	Represents the settlement upon vesting of PSUs.
F8	PSUs convert into Ovintiv common stock on a one-for-one basis.
F9	The RSUs and PSUs settled in Canadian dollars at a price of CAD$62.19 per RSU or PSU. The price has been converted to U.S. dollars using the Bank of Canada exchange rate on the transaction date.