Problem using OVRLayer on Quest in Unity For Loading Screens

I am implementing a dynamic loading screen in Unity using OVRLayers. I started with the OVRLayer and OVRLayerCanvas samples in the Oculus Integration SDK and have everything almost working except for one issue.

My loading screen has 3 OVRLayers in this order:
   1) A background Cubemap -- Composition Depth 0 
   2) A static Quad -- Composition Depth 1
   3) A dynamic OVRCanvas-based OVRLayer to display status text and a loading animation -- Composition Depth 2

I am able to smoothly fade in/out from/to my scene and the OVRLayer-based loading screen except for layer #3. For some reason, not matter what I try, the OVRCanvas-based layer fades out as the other two layers fade in and visa-versa. I simply cannot get it to remain visible in front of layer #1 and layer #2 nor can I prevent it from fading in/out. I've tried everything from reordering composition depths, to using opaque shaders. Oddly, layer #2 is essentially the same as layer #3, it's just not being dynamically rendered but it properly fades in/out with layer #1.

Does anyone have any ideas why this might be happening?

Thank you!