Form 4: Patterson UTI Energy Executive Sells Shares
Statement of Changes in Beneficial Ownership
Kenneth Berns, Executive Vice President at Patterson UTI Energy Inc., reported a disposition of 12,096 shares of common stock on May 9, 2026.
Summary
- Kenneth Berns, Executive Vice President at Patterson UTI Energy Inc. (PTEN), disposed of 12,096 shares of common stock on May 9, 2026.
- The transaction was executed at a price of $11.42 per share.
- These shares were disposed of to cover applicable withholding taxes related to the conversion of Restricted Stock Units (RSUs) into common stock.
- Following this transaction, Berns beneficially owns 1,043,987 shares of common stock directly.
- An additional 34,000 shares are held indirectly by trusts for which Berns is the trustee.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a neutral filing. While it involves a stock disposition by an executive, the stated reason (tax withholding for RSUs) is a common and generally non-indicative event.
Negatives
- Disposition of company stock by a key executive, although explained as tax-related, can sometimes be perceived negatively by the market.
Future Outlook
No specific future outlook or guidance is provided in this filing, as it pertains to a stock transaction by an executive.
Industry Context
StockSavvy.ai notes that insider stock sales, even when explained as tax-related, are closely watched by investors as they can sometimes signal a lack of confidence or a need for liquidity by the executive. However, the context of RSUs and withholding taxes is a common and often benign reason for such transactions.
Stakeholder Impact
- Shareholders: May observe the transaction, but the explanation for tax withholding on RSUs is a standard practice and unlikely to cause significant concern.
- Employees: The transaction relates to executive compensation and tax obligations, with no direct impact on general employee compensation or benefits.
- Management: The transaction reflects standard executive compensation and tax management practices.
Key Dates
| Date | Description |
|---|---|
| 03/29/2013 | Filing date of Limited Power of Attorney by Forrest Robinson. |
| 05/09/2026 | Transaction date for the disposition of common stock. |
| 05/12/2026 | Date of signature for the filing. |
Keywords
Patterson UTI Energy, PTEN, Form 4, Insider Transaction, Stock Disposition, Executive Compensation, Restricted Stock Units, Withholding Taxes
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