NOV Inc. — Director's Dealing 2011

Feb 22, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NATIONAL OILWELL VARCO INC (NOV)
CIK: 0001021860
Period of Report: 2011-02-22

Reporting Person: REESE MARK A (Group President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-22	Common Stock	M	13333	$25.96	Acquired	61099	Direct
2011-02-22	Common Stock	S	13333	$80	Disposed	47766	Direct
2011-02-22	Common Stock	F	3645	$79.8	Disposed	44121	Direct
2011-02-22	Common Stock	A	9000	—	Acquired	53121	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-22	Non-Qualified Stock Option (right to buy)	$25.96	M	13333	Disposed	2019-02-21	Common Stock (13333)	Direct
2011-02-22	Non-Qualified Stock Option (right to buy)	$79.8	A	24300	Acquired	2021-02-23	Common Stock (24300)	Direct

Footnotes

F1: Represents the number of shares withheld from the vesting of performance-based restricted stock shares to satisfy tax withholding liability.

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