Form 4: MRC Global Director Disposes Shares in DNOW Merger
Merger-Related Insider Transaction Report
MRC Global Director George John Damiris disposed of 57,139 common shares following the company's merger with DNOW Inc. on November 6, 2025.
Summary
- George John Damiris, a director of MRC Global Inc., reported the disposition of all his common stock holdings in MRC Global Inc.
- The disposition occurred on November 6, 2025, as a direct result of the Agreement and Plan of Merger dated June 26, 2025.
- MRC Global Inc. merged with DNOW Inc., with MRC Global Inc. becoming a surviving corporation in the First Merger and then merging into LLC Sub in the Second Merger.
- Each outstanding share of MRC Global Inc. common stock was converted into the right to receive 0.9489 shares of DNOW common stock.
- Company Restricted Stock, vesting solely based on continued employment, became fully vested and converted into 0.9489 shares of DNOW common stock per share, plus accrued but unpaid dividends.
- Mr. Damiris disposed of 57,139 shares of MRC Global Common Stock.
Sentiment
Score: 5
Explanation: Neutral. This is a factual report of a completed merger and subsequent share disposition by an insider, not an operational update or a voluntary sale. The sentiment reflects the neutral nature of a compliance filing.
Future Outlook
NA
Industry Context
The merger of MRC Global Inc. into DNOW Inc. represents consolidation within the industrial distribution sector, potentially driven by synergies in supply chain, customer base, or operational efficiencies. Such mergers are common strategies for growth and market share expansion in mature industries.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Director of MRC Global Inc. | George John Damiris | N/A | 11/06/2025 | Merger of MRC Global Inc. into DNOW Inc., resulting in the cessation of MRC Global Inc. as an independent entity. |
Stakeholder Impact
- Shareholders of MRC Global Inc. received 0.9489 shares of DNOW common stock for each share they owned, effectively becoming shareholders of DNOW Inc.
- Holders of Company Restricted Stock in MRC Global Inc. saw their shares fully vest and convert into DNOW common stock plus accrued dividends.
- MRC Global Inc. as an independent entity ceased to exist, impacting its employees, customers, and suppliers who will now be part of the combined DNOW entity.
Key Dates
| Date | Description |
|---|---|
| 06/26/2025 | Agreement and Plan of Merger dated between MRC Global Inc., DNOW Inc., Buck Merger Sub, Inc., and Stag Merger Sub, LLC. |
| 11/06/2025 | Effective Time of the Merger; Transaction Date for disposition of MRC Global shares. |
| 11/07/2025 | Signature Date of the Form 4 filing. |
Keywords
MRC Global, DNOW Inc., Merger, Form 4, Insider Transaction, Beneficial Ownership, Stock Disposition, Corporate Action, George John Damiris
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