Dow

=== SEC Form 4 — Statement of Changes in Beneficial Ownership === Document Type: 4 Period of Report: 2026-07-01 10b5-1 Pre-arranged Plan: No --- Issuer --- Name: DOW INC. (DOW) CIK: 0001751788 --- Reporting Owner --- Name: Carter Karen S CIK: 0001772252 Role: Director, Officer (Chief Executive Officer) --- Non-Derivative Transactions --- [Transaction #1] Security: Common Stock Date: 2026-07-01 | Code: A (Grant or award) Shares: +24,150 | Price: $0.00 Shares Owned After: 174,481 | Ownership: D (Direct) Footnotes: [F1] Restricted stock units to be delivered in one installment on or about February 12, 2029, subject to continued employment. [F2] Total includes previously reported restricted stock units. --- Derivative Transactions --- [Transaction #1] Security: Non-Qualified Stock Option (Right to Buy) Date: 2026-07-01 | Code: A (Grant or award) Shares: +126,640 | Price: $0.00 Exercisable: N/A | Expires: 2036-02-12 Shares Owned After: 126,640 | Ownership: D (Direct) Footnotes: [F3] This option will vest in three equal annual installments beginning on February 12, 2027. Option shares will be used to satisfy withholding taxes. --- Holdings --- [Holding #1] Security: Common Stock Ownership: I (Indirect) [Holding #2] Security: Common Stock Ownership: I (Indirect) [Holding #3] Security: Phantom Stock Units Ownership: D (Direct) Footnotes: [F4] There is generally no conversion price for these phantom stock units. Each phantom stock unit is the equivalent of one share of common stock of the Issuer. [F5] Phantom stock units accrue under a compensation deferral election. Phantom stock units are payable in cash in lump sum or installments at the election of the Reporting Person, and do not carry an exercisable date or expiration date. [F5] Phantom stock units accrue under a compensation deferral election. Phantom stock units are payable in cash in lump sum or installments at the election of the Reporting Person, and do not carry an exercisable date or expiration date. --- Footnotes (Complete Index) --- F1: Restricted stock units to be delivered in one installment on or about February 12, 2029, subject to continued employment. F2: Total includes previously reported restricted stock units. F3: This option will vest in three equal annual installments beginning on February 12, 2027. Option shares will be used to satisfy withholding taxes. F4: There is generally no conversion price for these phantom stock units. Each phantom stock unit is the equivalent of one share of common stock of the Issuer. F5: Phantom stock units accrue under a compensation deferral election. Phantom stock units are payable in cash in lump sum or installments at the election of the Reporting Person, and do not carry an exercisable date or expiration date. --- Signature --- /s/ /s/ Karen S. Carter (2026-07-06)