Form 4: NOV Inc. Chairman Clay Williams Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Clay Williams, Chairman, President, and CEO of NOV Inc., reports the withholding of shares for tax liabilities and holdings in the NOV Saving Plan.
Summary
- Clay Williams, Chairman, President, and CEO of NOV Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
- On February 6, 2025, 16,845 shares of common stock were disposed of to cover tax withholding liabilities related to the vesting of restricted stock units at a price of $15.48 per share.
- Following the transaction, Williams directly owns 1,281,995 shares of NOV Inc.
- Williams also indirectly owns 30,000 shares through Children's Trusts and 46 shares through the NOV Saving Plan as of February 6, 2025.
- The filing includes a Power of Attorney, effective June 17, 2024, authorizing Craig L. Weinstock, Peter F. Vranderic, and Brigitte M. Hunt to execute Forms 3, 4, and 5 on Williams' behalf.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common for publicly traded companies. It provides transparency regarding the holdings and transactions of key personnel.
Comparison to Industry Standards
- Form 4 filings are standard practice for corporate insiders and are comparable across all publicly traded companies.
- The information disclosed is consistent with SEC regulations and reporting requirements.
- Executive stock ownership and transactions are closely monitored by investors to gauge management's confidence in the company's future prospects.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive stock ownership.
- The stock transaction related to tax liabilities has a minimal impact on the overall market capitalization of the company.
Key Dates
| Date | Description |
|---|---|
| June 17, 2024 | Date of execution for the Power of Attorney. |
| February 6, 2024 | Date of grant for the time-based restricted stock units. |
| February 6, 2025 | Date of the stock transaction (share withholding for tax liability) and the date of Mr. Williams' account balance for the NOV Inc. Non-Qualified Deferred Compensation Plan. |
| February 7, 2025 | Date of signature for the Form 4 filing. |
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