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Stock-based Compensation and Outstanding Awards
 3 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Stock-based Compensation and Outstanding Awards

12. Stock-based Compensation and Outstanding Awards

In 2024, the Company’s shareholders approved the DNOW Inc. 2024 Omnibus Incentive Plan, which allows awards to be granted until 2034, for the granting of restricted stock awards (“RSAs”), restricted stock units and phantom shares (“RSUs”), performance stock awards (“PSAs”), stock options, and stock appreciation rights.

For the three months ended March 31, 2025, the Company granted 672,154 shares of RSAs and RSUs with a weighted average fair value of $16.06 per share. In addition, the Company granted PSAs to senior management employees with potential payouts varying from zero to 502,514 shares. The RSAs and RSUs vest on the third anniversary of the date of grant. The PSAs can be earned based on performance against established metrics over a three-year performance period.

Stock-based compensation expense for the three months ended March 31, 2025, totaled $4 million compared to $2 million for the corresponding period of 2024.