Ovintiv Inc. Files DEF 14A for 2023 Executive Compensation

Ticker: OVV · Form: DEF 14A · Filed: 2024-03-21T00:00:00.000Z

Sentiment: neutral

Topics: executive-compensation, proxy-statement, sec-filing, equity-awards

Related Tickers: OVV

TL;DR

Ovintiv's 2023 DEF 14A is out, showing exec pay details and equity award valuations.

AI Summary

Ovintiv Inc. filed a DEF 14A with the SEC on March 21, 2024, detailing executive compensation and other corporate matters for the fiscal year ending December 31, 2023. The filing includes information on compensation for key executives, such as Brendan McCracken, and details changes in the fair value of equity awards granted in prior fiscal years.

Why It Matters

This filing provides transparency into how Ovintiv Inc. compensates its top executives, which can influence investor perception and corporate governance practices.

Risk Assessment

Risk Level: low — This filing is a routine disclosure of executive compensation and corporate governance information, not indicative of immediate financial risk.

Key Players & Entities

Ovintiv Inc. (company) — Filer of the DEF 14A
Brendan McCracken (person) — Executive mentioned in compensation details
0001792580 (company) — Central Index Key for Ovintiv Inc.
20240321 (date) — Filing date of the DEF 14A
2023-12-31 (date) — Fiscal year end for which compensation is reported

FAQ

What is the primary purpose of a DEF 14A filing?

A DEF 14A filing, also known as a Definitive Proxy Statement, is filed by companies to solicit proxies from shareholders for their annual or special meetings, providing detailed information on matters to be voted upon, including executive compensation, director elections, and other corporate actions.

Who is Brendan McCracken and what is his role at Ovintiv Inc.?

Brendan McCracken is identified as a member within the filing, associated with executive compensation details, specifically related to equity awards. His exact title is not explicitly stated in the provided snippet but implies a senior executive role.

What period does this DEF 14A filing cover?

The filing is for the fiscal year ending December 31, 2023, as indicated by the 'CONFORMED PERIOD OF REPORT' and the date ranges associated with compensation data.

What does 'ChangeInFairValueOfOutstandingAndUnvestedAwardsGrantedInPriorFiscalYears' refer to?

This refers to the fluctuation in the market value of equity awards (like stock options or restricted stock) that were granted in previous years but have not yet vested or been fully settled as of the reporting period.

What is the significance of the 'Central Index Key' (CIK)?

The Central Index Key (CIK) is a unique identifier assigned to each entity (company, individual, etc.) that files with the SEC, used to track filings and maintain a consistent record.

From the Filing

0001193125-24-073766.txt : 20240321 0001193125-24-073766.hdr.sgml : 20240321 20240321150258 ACCESSION NUMBER: 0001193125-24-073766 CONFORMED SUBMISSION TYPE: DEF 14A PUBLIC DOCUMENT COUNT: 136 CONFORMED PERIOD OF REPORT: 20240502 FILED AS OF DATE: 20240321 DATE AS OF CHANGE: 20240321 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Ovintiv Inc. CENTRAL INDEX KEY: 0001792580 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 001-39191 FILM NUMBER: 24770966 BUSINESS ADDRESS: STREET 1: 370 - 17TH STREET, SUITE 1700 CITY: DENVER STATE: CO ZIP: 80202 BUSINESS PHONE: (303) 623-2300 MAIL ADDRESS: STREET 1: 370 - 17TH STREET, SUITE 1700 CITY: DENVER STATE: CO ZIP: 80202 FORMER COMPANY: FORMER CONFORMED NAME: 1847432 Alberta ULC DATE OF NAME CHANGE: 20191029 DEF 14A 1 d581659ddef14a.htm DEF 14A DEF 14A DEF 14A false 0001792580 0001792580 2023-01-01 2023-12-31 0001792580 2021-01-01 2021-12-31 0001792580 2020-01-01 2020-12-31 0001792580 2022-01-01 2022-12-31 0001792580 ovv:BrendanMccrackenMember 2023-01-01 2023-12-31 0001792580 ovv:ChangeInFairValueOfOutstandingAndUnvestedAwardsGrantedInPriorFiscalYearsMember ecd:NonPeoNeoMember 2023-01-01 2023-12-31 0001792580 ovv:ChangeInFairValueOfOutstandingAndUnvestedAwardsGrantedInPriorFiscalYearsMember ecd:PeoMember ovv:BrendanMccrackenMember 2023-01-01 2023-12-31 0001792580 ovv:YearEndFairValueOfEquityAwardsGrantedDuringYearMember ecd:PeoMember ovv:BrendanMccrackenMember 2023-01-01 2023-12-31 0001792580 ovv:YearEndFairValueOfEquityAwardsGrantedDuringYearMember ecd:NonPeoNeoMember 2023-01-01 2023-12-31 0001792580 ovv:ChangeInFairValueFromPriorYearToVestingDateOfEquityAwardsGrantedInPriorYearsThatVestedInTheYearMember ecd:NonPeoNeoMember 2023-01-01 2023-12-31 0001792580 ovv:ChangeInFairValueFromPriorYearToVestingDateOfEquityAwardsGrantedInPriorYearsThatVestedInTheYearMember ecd:PeoMember ovv:BrendanMccrackenMember 2023-01-01 2023-12-31 0001792580 ovv:TotalEquityAwardAdjustmentsMember ecd:PeoMember ovv:BrendanMccrackenMember 2023-01-01 2023-12-31 0001792580 ovv:TotalEquityAwardAdjustmentsMember ecd:NonPeoNeoMember 2023-01-01 2023-12-31 0001792580 ovv:DeductEquityAwardsValueInSummaryCompensationTableGrantDateValueMember ecd:PeoMember ovv:BrendanMccrackenMember 2023-01-01 2023-12-31 0001792580 ovv:DeductEquityAwardsValueInSummaryCompensationTableGrantDateValueMember ecd:NonPeoNeoMember 2023-01-01 2023-12-31 0001792580 2 2023-01-01 2023-12-31 0001792580 3 2023-01-01 2023-12-31 0001792580 4 2023-01-01 2023-12-31 0001792580 1 2023-01-01 2023-12-31 0001792580 ovv:BrendanMccrackenMember 2022-01-01 2022-12-31 0001792580 ovv:ChangeInFairValueOfOutstandingAndUnvestedAwardsGrantedInPriorFiscalYearsMember ecd:PeoMember ovv:BrendanMccrackenMember 2022-01-01 2022-12-31 0001792580 ovv:ChangeInFairValueOfOutstandingAndUnvestedAwardsGrantedInPriorFiscalYearsMember ecd:NonPeoNeoMember 2022-01-01 2022-12-31 0001792580 ovv:YearEndFairValueOfEquityAwardsGrantedDuringYearMember ecd:NonPeoNeoMember 2022-01-01 2022-12-31 0001792580 ovv:YearEndFairValueOfEquityAwardsGrantedDuringYearMember ecd:PeoMember ovv:BrendanMccrackenMember 2022-01-01 2022-12-31 0001792580 ovv:ChangeInFairValueFromPriorYearToVestingDateOfEquityAwardsGrantedInPriorYearsThatVestedInTheYearMember ecd:PeoMember ovv:BrendanMccrackenMember 2022-01-01 2022-12-31 0001792580 ovv:TotalEquityAwardAdjustmentsMember ecd:PeoMember ovv:BrendanMccrackenMember 2022-01-01 2022-12-31 0001792580 ovv:TotalEquityAwardAdjustmentsMember ecd:NonPeoNeoMember 2022-01-01 2022-12-31 0001792580 ovv:ChangeInFairValueFromPriorYearToVestingDateOfEquityAwardsGrantedInPriorYearsThatVestedInTheYearMember ecd:NonPeoNeoMember 2022-01-01 2022-12-31 0001792580 ovv:DeductEquityAwardsValueInSummaryCompensationTableGrantDateValueMember ecd:PeoMember ovv:BrendanMccrackenMember 2022-01-01 2022-1