---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-043510"
form_type: "8-K"
ticker: "NOV"
cik: "0001021860"
company_name: "NOV Inc."
filed_at: "2023-02-21T23:59:59+00:00"
generated_at: "2026-06-19T06:15:07.141643+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-23-043510
- form_type: 8-K
- ticker: NOV
- cik: 0001021860
- company_name: NOV Inc.
- filed_at: 2023-02-21T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1021860/000119312523043510/0001193125-23-043510-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1021860/000119312523043510/d441202d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-043510
- JSON: https://secwatch.observer/filing/0001193125-23-043510.json
- Plain text: https://secwatch.observer/filing/0001193125-23-043510.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.