Renee Ellen Zemljak Form 4 Ovintiv / Renee Ellen Zemljak ownership change

SEC Form 4

FORM 4

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
or Section 30(h) of the Investment Company Act of 1940

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

1. Name and Address of Reporting Person^*

Zemljak Renee Ellen

(Last) (First) (Middle)

C/O 370 17TH STREET, SUITE 1700

(Street)

DENVER CO 80202

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Ovintiv Inc. [ OVV ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
EVP, Midstream, Mrktg & Fndmtl

3. Date of Earliest Transaction (Month/Day/Year)
03/08/2024

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	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 Stock	03/08/2024		M(3)		24,402	A	(4)	110,221	D
Common Stock	03/08/2024		F(5)		10,285	D	$49.45	99,936	D
Common Stock	03/08/2024		M(8)		39,556(7)	A	(9)	139,492	D
Common Stock	03/08/2024		D		39,556	D	$49.45	99,936	D
Common Stock								5,149(10)	I	401(K)

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 (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	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 (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (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: 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
Restricted Share Unit	(1)	03/08/2024		A		6,067		03/08/2025	03/08/2025	Common Stock	6,067	$0	50,139	D
Restricted Share Unit	(1)	03/08/2024		A		6,067		03/08/2026	03/08/2026	Common Stock	6,067	$0	56,206	D
Restricted Share Unit	(1)	03/08/2024		A		6,067		03/08/2027	03/08/2027	Common Stock	6,067	$0	62,273	D
Restricted Share Unit	(2)	03/08/2024		M			24,402	03/08/2024	03/08/2024	Common Stock	24,402	$0	37,871	D
Performance Share Unit	(6)	03/08/2024		M			39,556(7)	03/08/2024	03/08/2024	Common Stock	39,556(7)	$0	0	D

Explanation of Responses:

1. 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.

2. Each RSU is the economic equivalent of one share of Ovintiv common stock and yields dividend equivalent RSUs.

3. Represents the settlement upon vesting of RSU's.

4. RSUs convert into Ovintiv common stock on a one-for-one basis.

5. 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.

6. 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.

7. Settlement of the PSUs was based on a performance criteria multiplier of 113 percent.

8. Represents the settlement upon vesting of PSUs.

9. PSUs convert into Ovintiv common stock on a one-for-one basis.

10. Includes Ovintiv common stock acquired through reinvested dividends and employee matching not previously reported.

	/s/Dawna Gibb, by Power of Attorney	03/12/2024
	** Signature of Reporting Person	Date
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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