DNOW VP General Counsel Raymond Chang Exercises Options, Sells Shares

What Happened

• Raymond W. Chang, Vice President and General Counsel of DNOW Inc. (DNOW), exercised stock options and immediately sold the resulting shares on August 10, 2026. He exercised 43,621 options at $9.53 (cost $415,708) and sold those 43,621 shares at $16.98 for $740,685. He also exercised 32,617 options at $10.26 (cost $334,650) and sold those 32,617 shares at $16.98 for $553,837. Total shares sold: 76,238; total gross proceeds from sales: $1,294,522; total exercise cost: $750,358. The filings list corresponding derivative entries showing the options converted to shares.

Key Details

• Transaction date: August 10, 2026; Form 4 filed August 12, 2026 (filed within the two-business-day window).
• Exercise entries (code M): 43,621 @ $9.53 (acquired), 32,617 @ $10.26 (acquired).
• Sale entries (code S): 43,621 @ $16.98 ($740,685), 32,617 @ $16.98 ($553,837).
• Total sold: 76,238 shares for $1,294,522; total paid to exercise: $750,358.
• Shares owned after transaction: not disclosed in the supplied filing summary.
• Footnotes: F1 and F2 indicate the options vest in three equal installments commencing on the date indicated.
• No 10% owner flag or 10b5-1 plan noted in the provided data; filing appears timely.

Context

• This is a typical option exercise followed by immediate sale (a cashless or simultaneous exercise-and-sell), which converts vested options to shares and monetizes them. Such transactions are often routine (e.g., to cover exercise cost/taxes or to diversify) and do not by themselves indicate the insider's long-term view.