v3.26.3
STOCK-BASED COMPENSATION PLANS (Tables)
 9 Months Ended
Sep. 30, 2026
Disclosure of terms and conditions of share-based payment arrangement [abstract]  
Schedule of Options Outstanding and Exercisable
The following tables summarize information related to the Company’s stock-based compensation plans:
Units
Outstanding
Units
Exercisable
As at September 30, 2026
(thousands)(thousands)
Stock Options With Associated Net Settlement Rights9,1402,820 
Performance Share Units7,596— 
Restricted Share Units10,777— 
Deferred Share Units2,0522,052 
The weighted average exercise price of NSRs outstanding as at September 30, 2026, was $23.15.
Units
Granted
Units
Vested and
Exercised/
Paid Out
For the nine months ended September 30, 2026
(thousands)(thousands)
Stock Options With Associated Net Settlement Rights2,7094,339
Performance Share Units2,4092,160
Restricted Share Units2,6023,409
Deferred Share Units372188
Weighted Average Exercise Price
Units
Exercised
For the nine months ended September 30, 2026
($/unit)(thousands)
Stock Options With Associated Net Settlement Rights Exercised for Net Cash Payment18.864,082
Stock Options With Associated Net Settlement Rights Exercised and Net Settled for Common Shares (1)
11.59257
(1)NSRs were net settled for 257 thousand common shares.
Schedule of Stock-Based Compensation
The following table summarizes the stock-based compensation expense (recovery) recorded for all plans:
Three Months EndedNine Months Ended
For the periods ended September 30,
2026202520262025
Stock Options With Associated Net Settlement Rights42128
Cenovus Replacement Stock Options———(1)
Performance Share Units1222426339
Restricted Share Units854021661
Deferred Share Units19114910
Stock-Based Compensation Expense (Recovery)23077540117