Form 4: Patterson-UTI Energy Executive Sells Shares

William Andrew Hendricks Jr., President & CEO of Patterson-UTI Energy Inc., reported a disposition of 48,952 shares of common stock on May 9, 2026, to cover withholding taxes.

Summary

• William Andrew Hendricks Jr., President & CEO and Director of Patterson-UTI Energy Inc., disposed of 48,952 shares of common stock on May 9, 2026.
• The transaction was made to cover applicable withholding taxes on Restricted Stock Units that were converted into Common Stock.
• The disposal price was $11.42 per share.
• Following this transaction, Mr. Hendricks beneficially owns 2,742,474 shares of common stock directly.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as the share disposition is a standard procedure for covering tax liabilities on equity awards and does not reflect a change in the executive's investment strategy or outlook on the company.

Negatives

• A significant number of shares were disposed of by a key executive, potentially signaling a reduction in direct ownership, although the reason is for tax withholding.

Future Outlook

No forward-looking statements or guidance were provided in this filing.

Industry Context

StockSavvy.ai notes that Form 4 filings are routine for executives managing tax obligations related to equity compensation. The disposition of shares to cover withholding taxes is a common practice and does not inherently indicate a negative view of the company's prospects.

Stakeholder Impact

• Shareholders may note the reduction in direct shareholding by a key executive, though the reason for the disposition is for tax purposes.
• The transaction does not directly impact employees, customers, suppliers, or creditors.

Key Dates

Keywords

Patterson-UTI Energy, PTEN, Form 4, Insider Transaction, Stock Disposition, Withholding Taxes, Restricted Stock Units, William Andrew Hendricks Jr.