DNOW CEO David Cherechinsky Exercises Options, Sells Shares

What Happened
David A. Cherechinsky, President, CEO and a Director of DNOW Inc. (DNOW), exercised a total of 256,142 option shares on 2026-08-10 and sold those shares in open-market transactions the same day. He exercised 57,929 options at $9.53/share (cost $552,063) and sold 57,929 shares at $16.73/share (proceeds $969,152). He also exercised 198,213 options at $10.26/share (cost $2,033,665) and sold 198,213 shares at $16.73/share (proceeds $3,316,103). Total exercise cost ≈ $2,585,728; total sale proceeds ≈ $4,285,255 (gross difference ≈ $1,699,527).

Key Details

• Transaction date: 2026-08-10; Form 4 filed 2026-08-12 (timely filing).
• Exercise details:
  • 57,929 shares exercised at $9.53 → $552,063 acquisition.
  • 198,213 shares exercised at $10.26 → $2,033,665 acquisition.
• Sales: 57,929 + 198,213 shares sold at $16.73 → total proceeds $4,285,255.
• The filing also shows derivative entries with $0 consideration for the same share counts; these typically reflect option conversion/surrender mechanics tied to the exercise.
• Footnotes: Options vest in three equal installments commencing on the date indicated (F1, F2).
• Shares owned after the transactions are not disclosed in the provided filing excerpt.

Context
Because the options were exercised and the resulting shares were sold the same day, this is effectively a cashless/capture-of-spread transaction (exercise then immediate sale). Such transactions are common for executives monetizing vested option value and do not, by themselves, indicate a change in company outlook. The filing appears timely (filed two days after the trades).