NOV Inc. — Director's Dealing 2010

Dec 14, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NATIONAL OILWELL VARCO INC (NOV)
CIK: 0001021860
Period of Report: 2010-12-14

Reporting Person: MILLER MERRILL A JR (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-12-14	Common Stock	M	133334	$33.29	Acquired	716431	Direct
2010-12-14	Common Stock	M	100000	$35.225	Acquired	816431	Direct
2010-12-14	Common Stock	S	233334	$63.994	Disposed	583097	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-12-14	Non-Qualified Stock Option (right to buy)	$33.29	M	133334	Disposed	2016-02-22	Common Stock (133334)	Direct
2010-12-14	Non-Qualified Stock Option (right to buy)	$35.225	M	100000	Disposed	2017-03-02	Common Stock (100000)	Direct

Footnotes

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