Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-05-27

Civeo (CVEO)

Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$3,775,348
Bradley Dodson total, FY2025
75th
CEO pay percentile vs peers
66:1
CEO-to-median pay ratio
99.6%
Say-on-pay support, latest vote
Companies that benchmark against CVEO
No companies currently name CVEO as a compensation peer in their most recent disclosure.

This is the complete answer, not a partial one — the list is never padded.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Bradley Dodson$750,000$0$2,569,485$0$435,375$0$20,488$3,775,348
President and Chief Executive Officer
E. Collin Gerry380,0000582,9420143,383016,4611,122,786
Senior Vice President, Chief Financial Officer and Treasurer
Peter McCann322,4000478,4740195,991018,9381,015,803
Senior Vice President, Australia
Andrew Fraser357,8000531,6280105,945020,2091,015,582
Senior Vice President, Canada

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
Bradley Dodson$3,775,348
E. Collin Gerry1,122,786
Peter McCann1,015,803
Andrew Fraser1,015,582

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Bradley DodsonRSU2025-03-0335,588$753,754
Bradley DodsonPSU2025-03-0329,06483,039166,0781,815,731
Andrew FraserRSU2025-03-037,363155,948
Andrew FraserPSU2025-03-036,01317,18134,362375,680
E. Collin GerryPSU2025-03-036,59418,84037,680411,956
E. Collin GerryRSU2025-03-038,073170,986
Peter McCannRSU2025-03-036,627140,360
Peter McCannPSU2025-03-035,41215,46330,926338,114
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Bradley Dodson$753,754$1,815,731$070.7%
Andrew Fraser155,948375,680070.7%
E. Collin Gerry170,986411,956070.7%
Peter McCann140,360338,114070.7%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Bradley DodsonRSU83,039$1,899,102
Bradley DodsonRSU64,3141,470,861
Bradley DodsonRSU40,459925,297
Bradley DodsonRSU35,588813,898
Bradley DodsonRSU28,584653,716
E. Collin GerryRSU18,840430,871
Andrew FraserRSU17,181392,929
Peter McCannRSU15,463353,639
Bradley DodsonRSU13,487308,448
Andrew FraserRSU13,314304,491
Peter McCannRSU12,525286,447
E. Collin GerryRSU8,838202,125
E. Collin GerryRSU8,073184,630
Andrew FraserRSU7,363168,392
E. Collin GerryRSU7,138163,246
Peter McCannRSU6,627151,559
Peter McCannRSU6,299144,058
Peter McCannRSU5,567127,317
E. Collin GerryRSU3,70184,642
E. Collin GerryRSU2,56158,570
Peter McCannRSU2,10048,027
05

Incentive-plan design — the Compensation Discussion & Analysis

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultant
Clawback policy
Anti-hedging
Anti-pledging
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-278,247,89333,269323,41199.6%Passed
20252025-05-148,553,973381,889454,12295.73%Passed
20242024-05-1510,328,484348,129784,94896.74%Passed
20232023-05-179,758,863994,40110,40390.75%Passed
20222022-05-189,014,691119,375804,11198.69%Passed
20212021-05-197,175,1413,048,30011,82970.18%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-05-2799.6%a
20252025-05-1495.73%b
20242024-05-1596.74%c

a. Voting standard not stated in the filing.

b. Voting standard not stated in the filing.

c. Voting standard not stated in the filing.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)66 : 1
CEO total compensation
Median employee compensation
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Richard A. NavarreIndependent · Board Chair · Environmental, Social, Governance and Nominating · ESG/Sustainability (Chair)$130,500$167,492$297,992
Charles SzalkowskiIndependent · Environmental, Social, Governance and Nominating (Chair) · Audit116,000124,996240,996
Constance B. MooreIndependent · Compensation · Audit115,500124,996240,496
Martin A. LambertIndependent · Compensation (Chair) · Finance and Investment Committee111,000124,996235,996
C. Ronald BlankenshipIndependent · Audit · Finance and Investment (Chair)111,000124,996235,996
Jay K. GrewalIndependent · Audit · Finance and Investment106,000124,996230,996
Timothy O. WallIndependent · Audit · Environmental, Social, Governance and Nominating · Finance and Investment · ESG/Sustainability101,000124,996225,996
Michael MontelongoIndependent · Compensation · Environmental, Social, Governance and Nominating · ESG/Sustainability101,000124,996225,996
Jeffrey B. ScofieldIndependent · Audit · Finance and Investment · Newly elected10,658125,001135,659
Daniel B. SilversIndependent · Compensation · Environmental, Social, Governance and Nominating · ESG/Sustainability · Newly elected10,155125,001135,156
Bradley J. DodsonEmployee director0
09

Board fee structure and ownership guideline

Annual cash retainer$75,000
Annual equity retainer$125,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)27,500 / 23,000 / 23,000
Stock ownership guideline$5
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$912,813
Equity awards (grant-date value)$1,292,466
All other compensation$0
Total cost of the board$2,205,279

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

NPKI NPK International Inc.NINE Nine Energy Service, Inc.TH Target Hospitality Corp.MGRC McGrath RentCorpBDTX Black Diamond Group LimitedWTTR Select Water Solutions, Inc. Badger Infrastructure Solutions Ltd.FET Forum Energy Technologies, Inc.TTI TETRA Technologies, Inc.OIS Oil States International, Inc.MTRX Matrix Service Company
10a

Peer reciprocity

Of the companies Civeo names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

NPK International Inc. (NPKI) Nine Energy Service, Inc. (NINE)35 Target Hospitality Corp. (TH) McGrath RentCorp (MGRC) Black Diamond Group Limited (BDTX) Select Water Solutions, Inc. (WTTR)36 Forum Energy Technologies, Inc. (FET) TETRA Technologies, Inc. (TTI) Oil States International, Inc. (OIS) Matrix Service Company (MTRX)37

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Civeo.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Select Water Solutions, Inc.2025John Schmitz$800,000$3,245,526$0$681,352$4,876,029
2Civeo2025Bradley Dodson750,0002,569,4850435,3753,775,348
3Matrix Service Company2025John Hewitt800,0002,236,270003,069,459
4Black Diamond Group Limited2025Mark Velleca667,400189,0001,006,030348,7172,234,919
5Nine Energy Service, Inc.2024Ann Fox726,923612,8600577,1602,022,618
NPK International Inc.not in coverage universe
Target Hospitality Corp.not in coverage universe
McGrath RentCorpnot in coverage universe
Forum Energy Technologies, Inc.not in coverage universe
TETRA Technologies, Inc.not in coverage universe
Oil States International, Inc.not in coverage universe

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Civeonot disclosednot disclosednot disclosednot disclosed
Black Diamond Group Limited95%not disclosednot disclosedAon Human Capital Solutions (Aon plc)
Forum Energy Technologies, Inc.not disclosednot disclosednot disclosednot disclosed
Matrix Service Companynot disclosedPSU 60 · RSU 40NoMeridian Compensation Partners
McGrath RentCorpnot disclosednot disclosednot disclosednot disclosed
Nine Energy Service, Inc.not disclosednot disclosedNoCompensation Advisory Partners (CAP)
NPK International Inc.not disclosednot disclosednot disclosednot disclosed
Oil States International, Inc.not disclosednot disclosednot disclosednot disclosed
Select Water Solutions, Inc.88.1%RSU 50 · PSU 50Yes — Relative Total Shareholder Return (TSR)Meridian Compensation Partners
Target Hospitality Corp.not disclosednot disclosednot disclosednot disclosed
TETRA Technologies, Inc.not disclosednot disclosednot disclosednot disclosed

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Bradley DodsonDEF 14A2026-04-130001590584-26-000035Section “Executive Compensation Tables” · page 45. As printed: 3,775,348. Filing ↗machine: r2 · c39 · span 776424–776433
2Section 01, E. Collin GerryDEF 14A2026-04-130001590584-26-000035Section “Executive Compensation Tables” · page 45. As printed: 1,122,786. Filing ↗machine: r6 · c39 · span 785692–785701
3Section 01, Peter McCannDEF 14A2026-04-130001590584-26-000035Section “Executive Compensation Tables” · page 45. As printed: 1,015,803. Filing ↗machine: r12 · c39 · span 798164–798173
4Section 01, Andrew FraserDEF 14A2026-04-130001590584-26-000035Section “Executive Compensation Tables” · page 45. As printed: 1,015,582. Filing ↗machine: r9 · c39 · span 792291–792300
5Section 03, Bradley Dodson RSUDEF 14A2026-04-130001590584-26-000035Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 838386–838393
6Section 03, Bradley Dodson PSUDEF 14A2026-04-130001590584-26-000035Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 836365–836374
7Section 03, Andrew Fraser RSUDEF 14A2026-04-130001590584-26-000035Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 852371–852378
8Section 03, Andrew Fraser PSUDEF 14A2026-04-130001590584-26-000035Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 850386–850393
9Section 03, E. Collin Gerry PSUDEF 14A2026-04-130001590584-26-000035Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 843295–843302
10Section 03, E. Collin Gerry RSUDEF 14A2026-04-130001590584-26-000035Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 845280–845287
11Section 03, Peter McCann RSUDEF 14A2026-04-130001590584-26-000035Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 860021–860028
12Section 03, Peter McCann PSUDEF 14A2026-04-130001590584-26-000035Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 857528–857535
13Section 07, pay ratioDEF 14A2026-04-130001590584-26-000035Section “CEO Pay Ratio”. As printed: 66 : 1. Filing ↗
14Section 08, Richard A. NavarreDEF 14A2026-04-130001590584-26-000035Section “Director Compensation”. As printed: 297,992. Filing ↗machine: span 460088–460095
15Section 08, Charles SzalkowskiDEF 14A2026-04-130001590584-26-000035Section “Director Compensation”. As printed: 240,996. Filing ↗machine: span 476779–476786
16Section 08, Constance B. MooreDEF 14A2026-04-130001590584-26-000035Section “Director Compensation”. As printed: 240,496. Filing ↗machine: span 470520–470527
17Section 08, Martin A. LambertDEF 14A2026-04-130001590584-26-000035Section “Director Compensation”. As printed: 235,996. Filing ↗machine: span 466346–466353
18Section 08, C. Ronald BlankenshipDEF 14A2026-04-130001590584-26-000035Section “Director Compensation”. As printed: 235,996. Filing ↗machine: span 462178–462185
19Section 08, Jay K. GrewalDEF 14A2026-04-130001590584-26-000035Section “Director Compensation”. As printed: 230,996. Filing ↗machine: span 464260–464267
20Section 08, Timothy O. WallDEF 14A2026-04-130001590584-26-000035Section “Director Compensation”. As printed: 225,996. Filing ↗machine: span 479151–479158
21Section 08, Michael MontelongoDEF 14A2026-04-130001590584-26-000035Section “Director Compensation”. As printed: 225,996. Filing ↗machine: span 468433–468440
22Section 08, Jeffrey B. ScofieldDEF 14A2026-04-130001590584-26-000035Section “Director Compensation”. As printed: 135,659. Filing ↗machine: span 472607–472614
23Section 08, Daniel B. SilversDEF 14A2026-04-130001590584-26-000035Section “Director Compensation”. As printed: 135,156. Filing ↗machine: span 474692–474699
24Section 08, Bradley J. DodsonDEF 14A2026-04-130001590584-26-000035Section “Director Compensation”. As printed: 0. Filing ↗
25Section 06, 2026 voteForm 8-K2026-05-270001590584-26-000055Item 5.07 · say-on-pay result. As reported: 99.6% (votes for as printed: 8,247,893). Filing ↗
26Section 06, 2025 voteForm 8-K2025-05-140001590584-25-000091Item 5.07 · say-on-pay result. As reported: 95.73% (votes for as printed: 8,553,973). Filing ↗
27Section 06, 2024 voteForm 8-K2024-05-210001590584-24-000111Item 5.07 · say-on-pay result. As reported: 96.74% (votes for as printed: 10,328,484). Filing ↗
28Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
29Section 09b board cost (computed)ComputedcomputedCash 912,813 + equity 1,292,466 + all other 0 = 2,205,279, summed across the director compensation table rows.machine: formula: Σ = 2,205,279
30Select Water Solutions, Inc., Section 10b CEO totalDEF 14A2026-03-240001104659-26-033864CEO total compensation as printed in Select Water Solutions, Inc.'s own proxy. As printed: 4,876,029. Filing ↗machine: span 1041295–1041304
31Civeo (subject), Section 10b CEO totalDEF 14A2026-04-130001590584-26-000035CEO total compensation as printed in Civeo's own proxy. As printed: 3,775,348. Filing ↗machine: r2 · c39 · span 776424–776433
32Matrix Service Company, Section 10b CEO totalDEF 14A2025-09-240001140361-25-036001CEO total compensation as printed in Matrix Service Company's own proxy. As printed: 3,069,459. Filing ↗machine: r2 · c21 · span 521326–521335
33Black Diamond Group Limited, Section 10b CEO totalDEF 14A2026-04-290001104659-26-051474CEO total compensation as printed in Black Diamond Group Limited's own proxy. As printed: 2,234,919. Filing ↗machine: r1 · c41 · span 370031–370040
34Nine Energy Service, Inc., Section 10b CEO totalDEF 14A2025-03-060001193125-25-048494CEO total compensation as printed in Nine Energy Service, Inc.'s own proxy. As printed: 2,022,618. Filing ↗machine: r2 · c25 · span 262873–262882
35Section 10a, Nine Energy Service, Inc. reciprocityDEF 14A0001193125-25-048494Nine Energy Service, Inc.'s most recent proxy was read; its disclosed peer group does not include Civeo. Filing ↗
36Section 10a, Select Water Solutions, Inc. reciprocityDEF 14A0001104659-26-033864Select Water Solutions, Inc.'s most recent proxy was read; its disclosed peer group does not include Civeo. Filing ↗
37Section 10a, Matrix Service Company reciprocityDEF 14A0001140361-25-036001Matrix Service Company's most recent proxy was read; its disclosed peer group does not include Civeo. Filing ↗