NOV Inc. Reports Officer/Director Changes, Comp Arrangements
Ticker: NOV · Form: 8-K · Filed: Jan 17, 2024 · CIK: 1021860
| Field | Detail |
|---|---|
| Company | Nov Inc. (NOV) |
| Form Type | 8-K |
| Filed Date | Jan 17, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: corporate-governance, executive-changes, compensation
TL;DR
**NOV Inc. just filed an 8-K about executive changes and pay, keep an eye on leadership shifts.**
AI Summary
NOV Inc. filed an 8-K on January 17, 2024, to report the departure or election of directors or officers and changes to compensatory arrangements for certain officers. This filing also covers financial statements and exhibits. For investors, this matters because changes in leadership or executive compensation can signal shifts in company strategy, financial health, or future performance, potentially impacting stock valuation.
Why It Matters
Changes in executive leadership and compensation can influence a company's strategic direction and operational efficiency, directly affecting investor confidence and stock performance.
Risk Assessment
Risk Level: low — This filing is primarily administrative, reporting standard corporate governance changes without indicating immediate financial distress or major operational risks.
Analyst Insight
A smart investor would monitor subsequent filings or company announcements for specific details regarding the personnel changes and compensation arrangements, as these could provide clearer insights into future company direction and financial implications.
Key Players & Entities
- NOV Inc. (company) — the registrant filing the 8-K
- United States Securities and Exchange Commission (company) — the regulatory body receiving the filing
- Delaware (other) — state of incorporation for NOV Inc.
- Houston, Texas (other) — principal executive offices of NOV Inc.
FAQ
What is the primary purpose of NOV Inc.'s 8-K filing dated January 17, 2024?
The primary purpose of NOV Inc.'s 8-K filing dated January 17, 2024, is to report the 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers' and 'Compensatory Arrangements of Certain Officers,' as well as 'Financial Statements and Exhibits'.
What is the earliest event reported date in this 8-K filing?
The earliest event reported date in this 8-K filing is January 17, 2024.
Where are NOV Inc.'s principal executive offices located?
NOV Inc.'s principal executive offices are located at 10353 Richmond Ave., Houston, Texas 77042.
What is NOV Inc.'s telephone number?
NOV Inc.'s telephone number is 346-223-3000.
What is the trading symbol for NOV Inc.'s Common Stock?
The filing does not explicitly state the trading symbol for NOV Inc.'s Common Stock, only that it is registered pursuant to Section 12(b) of the Act.
Filing Stats: 645 words · 3 min read · ~2 pages · Grade level 9.8 · Accepted 2024-01-17 17:15:59
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share NOV New York Stock Exchan
Filing Documents
- d731298d8k.htm (8-K) — 26KB
- d731298dex991.htm (EX-99.1) — 6KB
- g731298g0117035640720.jpg (GRAPHIC) — 3KB
- 0001193125-24-009316.txt ( ) — 153KB
- nov-20240117.xsd (EX-101.SCH) — 3KB
- nov-20240117_lab.xml (EX-101.LAB) — 17KB
- nov-20240117_pre.xml (EX-101.PRE) — 11KB
- d731298d8k_htm.xml (XML) — 3KB
02
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Election of Director On January 17, 2024, the Board of Directors (the "Board") of NOV Inc. (the "Company") appointed Patricia B. Melcher as a director of the Company, effective January 17, 2024, with a term of office expiring at the next annual meeting of stockholders. Ms. Melcher will serve on the Board's Audit Committee. As compensation for her service on the Board, Ms. Melcher will receive the Company's standard compensation for non-employee directors, which is described under the heading "Director Compensation" in the Company's definitive proxy statement relating to the Company's annual meeting of stockholders in 2023, filed with the Securities and Exchange Commission on April 6, 2023. In addition, there are no transactions in which Ms. Melcher has an interest that would require disclosure under Item 404(a) of Regulation S-K. Ms. Melcher, age 64, is currently a Managing Partner of EIV Capital, an energy-focused private equity firm she co-founded in 2009. Ms. Melcher received a Bachelor of Science in Systems Engineering from the University of Virginia and a Master of Business Administration from Harvard University. With the appointment of Ms. Melcher, the Board is now composed of nine directors, eight of whom are independent members. On January 17, 2024, the Company announced the appointment of Ms. Melcher to the Board. A copy of the press release is attached as Exhibit 99.1 to this report.
Financial Statements and Exhibits
Financial Statements and Exhibits (d) Exhibits The following exhibit is provided as part of the information furnished under Item 5.02 of this Current Report: 99.1 NOV Inc. press release dated January 17, 2024 announcing the appointment of Patricia B. Melcher. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: January 17, 2024 NOV INC. /s/ Brigitte M. Hunt Brigitte M. Hunt Vice President