Civeo Corporation Announces Results of 2026 Annual General Meeting of Shareholders

Houston, TX, May 27, 2026 – Civeo Corporation (“Civeo”, NYSE: CVEO), a leading provider of hospitality services to the natural resources industry, has released the results of its 2026 Annual General Meeting of Shareholders, which included several resolutions that may be of particular interest to investors and could have a bearing on the company’s future direction and share value.

Key Highlights from the Meeting

• Election of Directors: Shareholders elected six nominees to the Board of Directors, to serve as Class II and Class III directors. The re-election and continuity of board members may signal stability and ongoing confidence in the current leadership.
• Executive Compensation Approved: In an advisory vote, shareholders approved the compensation packages for the named executive officers as detailed in the Proxy Statement. This suggests continued shareholder support for current executive management and their strategic direction.
• Amendment to 2014 Equity Participation Plan: A significant development was the approval of an amendment to the company’s long-term incentive plan. The amendment increases the number of shares available for issuance under the plan by 520,920 shares (subject to further adjustment as per the Plan’s terms). This move may have a dilutive effect on current shareholders, but also signals the company’s intent to incentivize and retain key talent. Such equity plan expansions are often closely watched as they can impact future EPS and share price.
• Ratification of Auditors: Shareholders ratified the appointment of Ernst & Young LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2026. The Audit Committee was also authorized to determine their compensation for 2026. The ratification of a major, established audit firm can be viewed as a positive for financial oversight and transparency.

Detailed Voting Results

1. Board of Directors Elections

Note: The high level of support for directors reflects ongoing shareholder confidence in current board leadership.

2. Advisory Vote on Executive Compensation (“Say-on-Pay”)

A strong majority supported the executive compensation plan, suggesting broad approval of management’s incentives and alignment with shareholder interests.

3. Amendment to the 2014 Equity Participation Plan

Shareholders approved a 520,920 share increase to the equity plan. Investors should be aware that such increases can have a dilutive effect, but may also help retain and attract talent critical to the company’s long-term growth.

4. Ratification of Independent Auditors

An overwhelming majority ratified the appointment of Ernst & Young LLP, indicating confidence in the company’s financial reporting and oversight.

Other Notable Information

• Emerging Growth Company Status: Civeo is not considered an emerging growth company, which means it is subject to full SEC reporting requirements.
• Securities Information: Civeo’s common shares (no par value) continue to trade on the NYSE under the symbol “CVEO”.

Potential Market Impact

• The approval of a substantial equity plan amendment may be seen as both a potential dilution risk and a strategic tool for talent retention, which could influence the share price in the short and medium term.
• The ongoing support for executive compensation and board members signals stability and alignment with shareholder interests.
• No auditor change and strong support for financial oversight should reassure investors about the integrity of Civeo’s financials.

Disclaimer: This summary is for informational purposes only and does not constitute investment advice. Investors should review Civeo Corporation’s official SEC filings and consult their financial advisor before making investment decisions. Past performance is not indicative of future results. The data herein has been compiled from official filings as of May 27, 2026, but may be subject to change.

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