NOV Inc. — Director's Dealing 2016

Feb 26, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NATIONAL OILWELL VARCO INC (NOV)
CIK: 0001021860
Period of Report: 2016-02-24

Reporting Person: WILLIAMS CLAY C (Director, Chairman, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-02-24	Common Stock	A	17809	$0.00	Acquired	115521	Direct
2016-02-24	Common Stock	F	5546	$28.24	Disposed	109975	Direct
2016-02-24	Common Stock	A	79674	$0.00	Acquired	189649	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-02-24	Non-Qualified Stock Option (right to buy)	$28.24	A	697674	Acquired	2026-02-25	Common Stock (697674)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	30000	Indirect
Common Stock	41	Indirect

Footnotes

F1: Represents the total number of shares that vested from the performance share awards granted to Mr. Williams on March 22, 2013.

F2: Represents the number of shares withheld from the vesting of the performance share awards granted to Mr. Williams on March 22, 2013 to satisfy tax withholding liability.

F3: An equity award of time-based restricted stock pursuant to the Issuer's Long-Term Incentive Plan, which will vest in three equal annual installments commencing on the first anniversary of the date of the grant.

F4: Represents the number of shares equivalent of the Issuer's common stock held by Mr. Williams under the National Oilwell Varco, Inc. Supplemental Savings Plan. The information in this report is based on Mr. Williams' account balance as of February 24, 2016.

F5: The option, awarded pursuant to the Issuer's Long-Term Incentive Plan, representing a right to purchase a total of 697,674 shares, will become exercisable in three equal annual installments beginning on February 24, 2017, which will be the first anniversary of the date on which the option was granted.