Form 4: MRC Global Director Disposes Shares in DNOW Merger

MRC Global Inc. Director Daniel B. Silvers disposed of 25,068 shares of common stock on November 6, 2025, as part of the merger with DNOW Inc.

Summary

• Daniel B. Silvers, a Director of MRC Global Inc., reported a disposition of 25,068 shares of MRC Global Inc. common stock.
• The transaction occurred on November 6, 2025, pursuant to an Agreement and Plan of Merger dated June 26, 2025, between MRC Global Inc. and DNOW Inc.
• Under the merger agreement, MRC Global Inc. underwent a two-step merger process, first merging with Buck Merger Sub, Inc., and then with Stag Merger Sub, LLC, with LLC Sub continuing as the surviving company.
• At the effective time of the merger, each outstanding share of MRC Global Inc.'s restricted common stock, vesting solely based on continued employment, became fully vested and converted into the right to receive 0.9489 shares of DNOW common stock plus accrued but unpaid dividends.
• Each outstanding share of MRC Global Inc. common stock was converted into the right to receive 0.9489 shares of DNOW common stock.
• As a result of the merger, Daniel B. Silvers disposed of all previously reported shares of MRC Global Inc. common stock.

Sentiment

Score: 5

Explanation: The filing is a factual report of a mandatory share disposition by a director due to a merger, which is a neutral event in itself for the reporting person, though the merger itself has broader implications.

Future Outlook

This filing reports a completed transaction resulting from a merger and does not provide forward-looking statements or guidance.

Industry Context

The merger of MRC Global Inc. and DNOW Inc. represents a significant consolidation within the industrial distribution sector, particularly impacting the energy and infrastructure markets. This transaction reflects ongoing strategic realignments and potential synergies within the industry.

Stakeholder Impact

• Shareholders of MRC Global Inc. received DNOW Inc. common stock and cash for their shares as a result of the merger.

Key Dates

Keywords

MRC Global, DNOW Inc., Merger, Form 4, Insider Transaction, Share Disposition, Common Stock, Restricted Stock, Corporate Action