NOV Inc. Reports Board Changes and Executive Compensation Updates
Ticker: NOV · Form: 8-K · Filed: 2024-12-16T00:00:00.000Z
Sentiment: neutral
Topics: management-change, compensation, board-of-directors
TL;DR
NOV Inc. board shakeup and exec pay changes filed. Watch for strategic shifts.
AI Summary
NOV Inc. announced on December 15, 2024, changes in its board of directors and executive compensation arrangements. The filing details the departure of certain officers and the election of new directors, alongside updates to compensatory plans for key executives.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy, governance, and future performance expectations.
Risk Assessment
Risk Level: medium — Changes in executive leadership and compensation can introduce uncertainty regarding future strategic direction and operational stability.
Key Numbers
- 1-12317 — SEC File Number (Identifies the company's filing with the SEC.)
- 76-0475815 — IRS Employer Identification No. (Company's tax identification number.)
Key Players & Entities
- NOV Inc. (company) — Registrant
- Delaware (jurisdiction) — State of Incorporation
- Houston, Texas (location) — Business Address
- NATIONAL OILWELL VARCO INC (company) — Former Company Name
- NATIONAL OILWELL INC (company) — Former Company Name
FAQ
What specific roles have seen departures or appointments?
The filing indicates departures of certain officers and the election of new directors, but does not specify the exact roles in this summary.
When were these changes effective?
The earliest event reported was on December 15, 2024.
What is the primary business of NOV Inc.?
NOV Inc. is in the OIL & GAS MACHINERY & EQUIPMENT industry.
Has NOV Inc. operated under different names previously?
Yes, it was formerly known as NATIONAL OILWELL VARCO INC and NATIONAL OILWELL INC.
What is the company's state of incorporation?
NOV Inc. is incorporated in Delaware.
From the Filing
0001193125-24-279206.txt : 20241216 0001193125-24-279206.hdr.sgml : 20241216 20241216103502 ACCESSION NUMBER: 0001193125-24-279206 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20241215 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20241216 DATE AS OF CHANGE: 20241216 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NOV Inc. CENTRAL INDEX KEY: 0001021860 STANDARD INDUSTRIAL CLASSIFICATION: OIL & GAS FILED MACHINERY & EQUIPMENT [3533] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 760475815 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12317 FILM NUMBER: 241550556 BUSINESS ADDRESS: STREET 1: 10353 RICHMOND AVE. CITY: HOUSTON STATE: TX ZIP: 77042 BUSINESS PHONE: 346-223-3000 MAIL ADDRESS: STREET 1: 10353 RICHMOND AVE. CITY: HOUSTON STATE: TX ZIP: 77042 FORMER COMPANY: FORMER CONFORMED NAME: NATIONAL OILWELL VARCO INC DATE OF NAME CHANGE: 20050311 FORMER COMPANY: FORMER CONFORMED NAME: NATIONAL OILWELL INC DATE OF NAME CHANGE: 19960829 8-K 1 d865421d8k.htm 8-K 8-K false 0001021860 0001021860 2024-12-15 2024-12-15     UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549     FORM 8-K     CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): December 15, 2024     (Exact Name of Registrant as Specified in Charter) NOV INC. (Exact Name of Registrant as Specified in Charter)       Delaware   1-12317   76-0475815 (State or Other Jurisdiction of Incorporation)   (Commission File Number)   (I.R.S. Employer Identification No.)   10353 Richmond Ave. Houston , Texas   77042 (Address of Principal Executive Offices)   (Zip Code) Registrant’s Telephone Number, Including Area Code 346 - 223-3000   (Former Name or Former Address, if Changed Since Last Report)     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below):     ☐ Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)     ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)     ☐ Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))     ☐ Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common Stock, par value $0.01 per share   NOV   New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company  ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐       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 December 15, 2024, the Board of Directors (the “ Board ”) of NOV Inc. (the “ Company ̶