Form 4: Cactus Inc. Director Joel Bender Reports Significant Transactions in Class A and B Common Stock

Joel Bender, a director, 10% owner, and President of Cactus, Inc., reported several transactions involving Class A and Class B Common Stock, including acquisitions, disposals, and conversions related to redemptions of ownership interests in Cactus WH Enterprises, LLC.

Summary

• On May 7, 2024, Joel Bender, through Bender Investment Company (BIC), engaged in transactions involving Cactus, Inc.'s Class A and Class B Common Stock related to redemptions of ownership interests in Cactus WH Enterprises, LLC.
• BIC redeemed a portion of its ownership interests in Cactus Enterprises, receiving 600,000 Units and a corresponding number of shares of Class B Common Stock.
• BIC disposed of 600,000 shares of Class B Common Stock, which were then cancelled by the Issuer.
• BIC acquired 600,000 shares of Class A Common Stock in connection with the redemption of Units.
• Between May 7 and May 9, 2024, Bender also sold 599,990 shares of Class A Common Stock at prices ranging from $51.01 to $52.098.
• Following these transactions, Bender is deemed to beneficially own 11,781,444 shares of Class B Common Stock and 11,781,444 Units owned by Cactus Enterprises, as well as directly owning 156,586 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the document primarily reports transactions without expressing a clear positive or negative outlook. The sales of Class A Common Stock could be viewed with slight caution, but the overall context suggests routine transactions related to unit redemptions.

Industry Context

This filing reflects insider transactions, which are closely monitored by investors for insights into management's perspective on the company's value and future prospects. Significant sales by insiders can sometimes be interpreted negatively, while acquisitions may be seen as a positive signal.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies and their insiders.
• The transactions reported are typical for executives and directors who hold significant equity in a company, especially in connection with corporate actions like unit redemptions.

Related Party Transactions

• The transactions involve Cactus WH Enterprises, LLC, and Bender Investment Company (BIC), which is controlled by the Reporting Person, Joel Bender.

Stakeholder Impact

• The transactions could influence investor sentiment regarding Cactus, Inc.'s stock.
• The redemption of units and subsequent sale of shares may have a minor impact on the overall share structure.

Key Dates