NOV enters $184M annuity contract to settle defined benefit pension plan liabilities

NOV Inc.

Purchased single premium group annuity from Principal Life Insurance for ~$184M to settle National-Oilwell Defined Benefit Pension Plan.
Annuity covers 3,240 participants (2,329 retired, 911 deferred); insurer assumes monthly benefit payments starting May 1, 2023.
Plan was terminated effective November 30, 2021; this agreement finalizes transfer of benefit obligations.
Premium paid on February 14, 2023 from Plan assets; NOV has no further liability for these benefits after premium receipt.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.