Form 4: Cactus Inc. Chairman and CEO Scott Bender Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Scott Bender, Chairman and CEO of Cactus Inc., reports transactions involving Class A Common Stock and Restricted Stock Units, including acquisitions, disposals, and vesting, as of March 11, 2024.
Summary
- On March 11, 2024, Scott Bender, Chairman and CEO of Cactus Inc., reported changes in his beneficial ownership of Cactus Inc. securities.
- These changes include the vesting of restricted stock units and performance share units, as well as the withholding of shares to cover tax obligations.
- Bender acquired 7,638, 7,786, and 6,460 shares of Class A Common Stock through the vesting of restricted stock units.
- He also acquired 46,716 shares of Class A Common Stock related to performance share units granted in 2021.
- Shares were disposed of to satisfy tax withholding obligations, totaling 3,006, 3,064, 2,391, and 18,383 shares at a price of $46.53 and $46.6 per share.
- Bender was granted 24,857 restricted stock units on March 11, 2024, which vest in three equal annual installments.
- Following these transactions, Bender directly owns 41,776 shares of Class A Common Stock and 46,592 Restricted Stock Units.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It reflects routine transactions related to executive compensation. The vesting of awards is generally positive, but the tax-related disposals are neutral.
Positives
- The vesting of restricted stock units and performance share units indicates that Bender is meeting performance goals.
- The grant of new restricted stock units suggests continued confidence in Bender's leadership and the company's future.
Negatives
- The disposal of shares to cover tax obligations, while standard, reduces Bender's direct holdings in the company.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors to gauge management's sentiment and alignment with shareholder interests.
Stakeholder Impact
- The transactions have a minor impact on shareholders, as they reflect routine executive compensation and do not indicate a change in the company's fundamentals.
Key Dates
| Date | Description |
|---|---|
| 03/11/2021 | Reporting person was granted 23,358 restricted stock units, vesting in three equal annual installments beginning on the first anniversary of the grant date. |
| 03/11/2022 | Reporting person was granted 19,380 restricted stock units, vesting in three equal annual installments beginning on the first anniversary of the grant date. |
| 03/10/2023 | Reporting person was granted 22,913 restricted stock units, vesting in three equal annual installments beginning on the first anniversary of the grant date. |
| 12/31/2023 | End of the three-year performance period for performance share units granted in 2021. |
| 03/11/2024 | Date of reported transactions, including vesting of restricted stock units and performance share units, and grant of new restricted stock units. |
| 03/13/2024 | Date of Form 4 filing. |
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