NOV Inc. — Director's Dealing 2017

Feb 27, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NATIONAL OILWELL VARCO INC (NOV)
CIK: 0001021860
Period of Report: 2017-02-24

Reporting Person: Duff Scott K. (VP Cntrlr Chf Acctg Offcr)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-02-24	Common Stock	F	1259	$39.79	Disposed	30559	Direct
2017-02-24	Common Stock	M	37369	$28.24	Acquired	67928	Direct
2017-02-24	Common Stock	S	37369	$39.8674	Disposed	30559	Direct
2017-02-25	Common Stock	F	653	$39.79	Disposed	29906	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-02-24	Non-Qualified Stock Option (right to buy)	$28.24	M	37369	Disposed	2026-02-25	Common Stock (37369)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5727	Indirect

Footnotes

F1: Represents the number of shares withheld from the vesting of time-based restricted stock (granted on February 24, 2016) to satisfy tax withholding liability.

F2: Represents the number of shares withheld from the vesting of time-based restricted stock (granted on February 25, 2014) to satisfy tax withholding liability.

F3: Represents the number of shares equivalent of NOV common stock held by Mr. Duff under the National Oilwell Varco, Inc. 401(k) Plan. The information in this report is based on Mr. Duff's account balance as of February 22, 2017.

F4: The option, representing a right to purchase a total of 112,108 shares, became exercisable in three equal annual installments beginning on February 24, 2017, which was the first anniversary of the date on which the option was granted.