DNOW VP Raymond Chang exercises options, sells shares

Q: What did DNOW (DNOW) executive Raymond W. Chang report in this Form 4?

Raymond W. Chang reported exercising 76,238 stock options and selling the same number of DNOW common shares on 2026-08-10, reflecting an exercise-and-immediate-sale transaction sequence.

Q: How many DNOW (DNOW) shares did Raymond W. Chang sell and at what price?

Raymond W. Chang sold 76,238 DNOW common shares in two transactions at a reported sale price of $16.98 per share, following the exercise of corresponding non-qualified stock options.

Q: What option exercise prices were reported in Raymond W. Chang’s DNOW (DNOW) Form 4?

He exercised 43,621 options at $9.53 per share and 32,617 options at $10.26 per share, each option converting into one share of DNOW common stock in the reported transactions.

Q: Were Raymond W. Chang’s DNOW (DNOW) transactions under a Rule 10b5-1 plan?

The filing’s Rule 10b5-1 checkbox is unchecked, indicating these transactions were not affirmatively reported as executed pursuant to a Rule 10b5-1 trading plan or similar pre-arranged plan.

Q: What type of securities did Raymond W. Chang hold and exercise in DNOW (DNOW)?

He held Non-Qualified Stock Options (Right to Buy), which he exercised into DNOW common stock. The options had exercise prices of $9.53 and $10.26 per share and later-expiring dates in 2027 and 2028.

DNOW Inc. officer Raymond W. Chang, VP and General Counsel, reported an option exercise-and-sale sequence in DNOW common stock on 2026-08-10.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Form Type

Rhea-AI Filing Summary

DNOW Inc. officer Raymond W. Chang, VP and General Counsel, reported an option exercise-and-sale sequence in DNOW common stock on 2026-08-10. He exercised 43,621 non-qualified stock options at an exercise price of $9.53 per share and 32,617 options at $10.26 per share, receiving the same number of DNOW common shares. He then sold 43,621 and 32,617 common shares, respectively, at a sale price of $16.98 per share. The filing’s Rule 10b5-1 checkbox is unchecked, and no post-transaction share holdings are reported in this form.

Insider Trade Summary

Exercise and Sale: 76,238 shares ($544K approx. pre-tax spread)

Exercise and Sale 6 txns

Insider Chang Raymond W

Role VP and General Counsel

Sold 76,238 shs ($1.29M)

Approx. gross sale proceeds $1.29M

Approx. exercise cost $750K

Approx. pre-tax spread $544K

Type	Security	Shares	Price	Value
Exercise	Non-Qualified Stock Option (Right to Buy) ^F1	43,621	$0.00	$0.00
Exercise	Non-Qualified Stock Option (Right to Buy) ^F2	32,617	$0.00	$0.00
Exercise	Common stock	43,621	$9.53	$416K
Sale	Common stock	43,621	$16.98	$741K
Exercise	Common stock	32,617	$10.26	$335K
Sale	Common stock	32,617	$16.98	$554K

Holdings After Transaction: Non-Qualified Stock Option (Right to Buy) — 0 contracts (Direct); Common stock — 360,388 shares (Direct)

Footnotes (2)

F1. Options vest in three (3) equal installments commencing on the date indicated.
F2. Options vest in three (3) equal installments commencing on the date indicated.

Key Figures

Options exercised: 76,238 shares Exercise price block 1: $9.53 per share Exercise price block 2: $10.26 per share +3 more

6 metrics

Options exercised 76,238 shares Total non-qualified stock options exercised on 2026-08-10

Exercise price block 1 $9.53 per share Exercise price for 43,621 non-qualified stock options

Exercise price block 2 $10.26 per share Exercise price for 32,617 non-qualified stock options

Shares sold 76,238 shares Total DNOW common shares sold on 2026-08-10

Sale price $16.98 per share Reported sale price for DNOW common stock

Derivative transactions 2 transactions Number of option exercise transactions (code M)

Key Terms

Non-Qualified Stock Option (Right to Buy), derivative security, exercise price

3 terms

Non-Qualified Stock Option (Right to Buy) financial

"security_title: Non-Qualified Stock Option (Right to Buy)"

derivative security financial

"transaction_code_description: Exercise or conversion of derivative security"

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

exercise price financial

"conversion_or_exercise_price: 9.5300"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did DNOW (DNOW) executive Raymond W. Chang report in this Form 4?

Raymond W. Chang reported exercising 76,238 stock options and selling the same number of DNOW common shares on 2026-08-10, reflecting an exercise-and-immediate-sale transaction sequence.

How many DNOW (DNOW) shares did Raymond W. Chang sell and at what price?

Raymond W. Chang sold 76,238 DNOW common shares in two transactions at a reported sale price of $16.98 per share, following the exercise of corresponding non-qualified stock options.

What option exercise prices were reported in Raymond W. Chang’s DNOW (DNOW) Form 4?

He exercised 43,621 options at $9.53 per share and 32,617 options at $10.26 per share, each option converting into one share of DNOW common stock in the reported transactions.

Were Raymond W. Chang’s DNOW (DNOW) transactions under a Rule 10b5-1 plan?

The filing’s Rule 10b5-1 checkbox is unchecked, indicating these transactions were not affirmatively reported as executed pursuant to a Rule 10b5-1 trading plan or similar pre-arranged plan.

What type of securities did Raymond W. Chang hold and exercise in DNOW (DNOW)?

He held Non-Qualified Stock Options (Right to Buy), which he exercised into DNOW common stock. The options had exercise prices of $9.53 and $10.26 per share and later-expiring dates in 2027 and 2028.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

Available on EDGAR 08/12/2026 - 04:05 PM Accepted by SEC EDGAR 08/12/2026 - 04:05 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Chang Raymond W

(Last)

(First)

(Middle)

7402 NORTH ELDRIDGE PARKWAY

(Street)

HOUSTON

TEXAS

77041

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
DNOW Inc. [ DNOW ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	VP and General Counsel

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/10/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common stock	08/10/2026		M		43,621	A	$9.53	404,009	D
Common stock	08/10/2026		S		43,621	D	$16.98	360,388	D
Common stock	08/10/2026		M		32,617	A	$10.26	393,005	D
Common stock	08/10/2026		S		32,617	D	$16.98	360,388	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Non-Qualified Stock Option (Right to Buy)	$9.53	08/10/2026		M			43,621	02/21/2021⁽¹⁾	02/21/2027	Common Stock	43,621	$0	0	D
Non-Qualified Stock Option (Right to Buy)	$10.26	08/10/2026		M			32,617	02/23/2022⁽²⁾	02/23/2028	Common Stock	32,617	$0	0	D

Explanation of Responses:

1. Options vest in three (3) equal installments commencing on the date indicated.

2. Options vest in three (3) equal installments commencing on the date indicated.

	/s/ Raymond W. Chang	08/12/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR