Form 4: NOV Inc. Executive Joseph W. Rovig Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Joseph W. Rovig, President Energy Equipment at NOV Inc., reports changes in beneficial ownership of company stock due to tax withholding and holdings in a 401(k) plan.
Summary
- On February 6, 2025, Joseph W. Rovig, President Energy Equipment at NOV Inc., reported changes in his beneficial ownership of NOV common stock.
- 2,201 shares were withheld to cover tax liabilities related to the vesting of restricted stock units granted on February 6, 2024, at a price of $15.48 per share.
- Rovig also holds 976 shares of NOV common stock indirectly through the NOV Inc. 401(k) Plan, based on his account balance as of February 6, 2025.
- Following these transactions, Rovig directly owns 189,366 shares of NOV common stock.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing reflecting standard transactions related to executive compensation and employee benefits, with no inherent positive or negative implications.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their holdings in the company's stock. This filing indicates routine transactions related to compensation and employee benefit plans.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive stock ownership.
- The tax withholding impacts the executive's net compensation.
Key Dates
| Date | Description |
|---|---|
| 02/06/2024 | Date of grant for time-based restricted stock units. |
| 02/06/2025 | Date of transaction (tax withholding and 401(k) balance). |
| 02/07/2025 | Date of signature for the Form 4 filing. |
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