Form 4: Cactus, Inc. COO Steven Bender Reports Changes in Beneficial Ownership
SEC Form 4
Chief Operating Officer of Cactus, Inc., Steven Bender, reports transactions involving Class A Common Stock and Restricted Stock Units.
Summary
- Steven Bender, the Chief Operating Officer of Cactus, Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's securities.
- The reported transactions include the acquisition of Class A Common Stock through the vesting of Restricted Stock Units (RSUs) and the disposition of shares to cover tax withholding obligations.
- On March 10, 2025, Bender acquired 4,582 shares of Class A Common Stock upon vesting of RSUs and disposed of 1,804 shares to satisfy tax obligations at a price of $45.24.
- On March 11, 2025, he acquired 2,584 and 4,972 shares of Class A Common Stock upon vesting of RSUs and disposed of 1,017 and 1,957 shares to satisfy tax obligations at a price of $46.47.
- Following these transactions, Bender directly owns 64,927 shares of Class A Common Stock and 108,073 Restricted Stock Units.
- He was also granted 12,080 restricted stock units on March 10, 2025, vesting in three equal annual installments.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing simply reports transactions related to executive compensation and does not contain any overtly positive or negative information about the company's performance or prospects.
Positives
- The vesting of restricted stock units indicates that performance milestones have been met, which can be seen as a positive sign.
- The increased holdings of Class A Common Stock show a continued investment in the company by the COO.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency regarding the alignment of management's interests with those of shareholders.
Comparison to Industry Standards
- Executive compensation packages including restricted stock units are standard practice among publicly traded companies, particularly in the energy sector where Cactus, Inc. operates.
- The vesting schedules and tax withholding practices described in the filing are typical for RSU grants.
- Comparing Bender's holdings and transactions to those of executives at similar companies like Schlumberger, Halliburton, and Baker Hughes would provide a benchmark for assessing the magnitude of his ownership and compensation.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and ownership.
- Employees may be interested in the details of the RSU grants as they relate to company performance and executive incentives.
Key Dates
| Date | Description |
|---|---|
| 03/11/2022 | Reporting person was granted 7,752 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 13,748 restricted stock units, vesting in three equal annual installments beginning on the first anniversary of the grant date. |
| 03/11/2024 | Reporting person was granted 14,915 restricted stock units, vesting in three equal annual installments beginning on the first anniversary of the grant date. |
| 03/10/2025 | Earliest transaction date; reporting person acquired and disposed of Class A Common Stock and was granted 12,080 restricted stock units, vesting in three equal annual installments beginning on the first anniversary of the grant date. |
| 03/11/2025 | Reporting person acquired and disposed of Class A Common Stock. |
| 03/12/2025 | Date of Form 4 filing. |
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