Form 4: NOV Inc. CFO Jose A. Bayardo Reports Tax Withholding Transaction

Jose A. Bayardo, Senior VP and CFO of NOV Inc., reports the withholding of shares to cover tax liabilities related to vesting restricted stock units.

Summary

• On February 6, 2025, Jose A. Bayardo, Senior VP and CFO of NOV Inc., had 5,241 shares of common stock withheld to cover tax obligations.
• These shares were related to the vesting of time-based restricted stock units granted on February 6, 2024.
• The price per share for the transaction was $15.48.
• Following the transaction, Bayardo directly owns 464,610 shares of NOV Inc. common stock.
• Bayardo has granted power of attorney to Craig L. Weinstock, Peter F. Vranderic, and Brigitte M. Hunt to execute and file Forms 3, 4, and 5 on his behalf.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing related to tax obligations, indicating a neutral sentiment. The transaction is expected and doesn't suggest any underlying issues.

Industry Context

Form 4 filings are standard practice for corporate insiders to report changes in their beneficial ownership of company securities, ensuring transparency and compliance with SEC regulations.

Comparison to Industry Standards

• Form 4 filings are a standard regulatory requirement for all publicly traded companies, ensuring transparency of insider transactions.
• The reporting of tax withholding on vested restricted stock units is a common occurrence among executives in publicly traded companies.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine tax withholding event.

Key Dates

Keywords

Form 4, NOV Inc., Jose A. Bayardo, Tax Withholding, Restricted Stock Units, Beneficial Ownership, Power of Attorney, SEC Filing