DOW INC. — Director's Dealing 2026

Feb 17, 2026

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DOW INC. (DOW)
CIK: 0001751788
Period of Report: 2026-02-12

Reporting Person: Carter Karen S (Chief Operating Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2026-02-12	Common Stock	A	10224	—	Acquired	128860	Direct
2026-02-12	Common Stock	A	24440	—	Acquired	153300	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2026-02-12	Non-Qualified Stock Option (Right to Buy)	$32.65	A	132990	Acquired	2036-02-12	Common Stock (132990)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1239.587	Indirect
Common Stock	321.252	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Phantom Stock Units	$		Common Stock (12503.86)	12503.86	Direct

Footnotes

F1: Performance share units not previously reportable were determined after certification of the applicable performance metrics. Performance share units will be settled in one installment on or about February 26, 2026, subject to continued employment.

F2: Restricted stock units to be delivered in one installment on or about February 12, 2029, subject to continued employment.

F3: Total includes previously reported restricted stock units.

F4: This option will vest in three equal annual installments beginning on February 12, 2027. Option shares will be used to satisfy withholding taxes.

F5: There is generally no conversion price for these phantom stock units. Each phantom stock unit is the equivalent of one share of common stock of the Issuer.

F6: Phantom stock units accrue under a compensation deferral election. Phantom stock units are payable in cash in lump sum or installments at the election of the Reporting Person, and do not carry an exercisable date or expiration date.