Raymond W. Chang, VP and General Counsel of DNOW Inc., filed a Form 4 on August 12, 2026, disclosing the exercise of two non-qualified stock option grants and same-day sales of the resulting common shares on August 10, 2026.

Key Highlights

  • First option exercise: Chang exercised 43,621 non-qualified stock options at an exercise price of $9.53 per share on August 10, 2026.
  • Second option exercise: Chang exercised 32,617 non-qualified stock options at an exercise price of $10.26 per share on the same date.
  • Same-day sales: Both resulting share lots, 43,621 and 32,617 shares, were sold at $16.98 per share on August 10, 2026.
  • Remaining ownership: Following all four transactions, Chang directly owned 360,388 shares of common stock, according to the filing.
  • Option expiration dates: The $9.53-strike options were set to expire on February 21, 2027, and the $10.26-strike options on February 23, 2028, per the filing.
  • Derivative position after transactions: Both option series show zero derivative securities beneficially owned following the reported transactions.

Chang Exercises and Sells Two Option Grants in DNOW Inc. Common Stock

According to the Form 4 filed with the SEC on August 12, 2026, Raymond W. Chang, VP and General Counsel of DNOW Inc. (NYSE:DNOW), reported four transactions in the company's common stock on August 10, 2026. The transactions involved the exercise of two separate non-qualified stock option grants and the immediate sale of all shares acquired through those exercises.

The first option lot consisted of 43,621 shares exercisable at $9.53, originally dated February 21, 2021, with an expiration of February 21, 2027. The filing notes these options vested in three equal installments commencing on the date indicated. Chang acquired these 43,621 shares via transaction code M, bringing his reported total to 404,009 shares before the subsequent sale. He then disposed of all 43,621 shares at $16.98 per share under transaction code S, reducing his direct holdings to 360,388 shares.

The second option lot involved 32,617 shares exercisable at $10.26, originally dated February 23, 2022, with an expiration of February 23, 2028. These options also vested in three equal installments commencing on the date indicated, according to the filing's explanations of responses. Following the exercise and same-day sale of this lot at $16.98 per share, Chang's directly held common stock position remained at 360,388 shares. After both exercises, the filing reports zero non-qualified stock options beneficially owned in either series.

What Was Disclosed

The filing discloses that Chang exercised two non-qualified stock option grants totaling 76,238 shares and sold all resulting shares at $16.98 per share on August 10, 2026, leaving him with 360,388 directly owned shares of DNOW Inc. common stock.