Form 4: Patterson-UTI Energy Inc. Director Drummond Jr. Reports Acquisition of Restricted Stock Units
SEC Form 4 Filing
Director Robert Wayne Drummond Jr. reports acquiring 21,186 restricted stock units in Patterson-UTI Energy Inc., alongside existing holdings.
Summary
- On January 1, 2025, Robert Wayne Drummond Jr., a director of Patterson-UTI Energy Inc. (PTEN), acquired 21,186 shares of common stock in the form of restricted stock units.
- These restricted stock units convert into common stock on a one-for-one basis and vest on January 1, 2026.
- The transaction was reported on a Form 4 filing with the SEC.
- Following the transaction, Drummond Jr. directly owns 1,779,081 shares of Patterson-UTI Energy Inc. common stock.
- Additionally, Drummond Jr. indirectly owns 500,000 shares through trust(s) for which he serves as a trustee.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing reporting a transaction. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Positives
- The acquisition of restricted stock units by a director could be seen as a positive sign, indicating confidence in the company's future performance.
Future Outlook
The document does not contain any specific forward-looking statements or guidance.
Industry Context
This filing is a routine disclosure related to insider transactions, which are common in publicly traded companies. It provides transparency into the holdings of company insiders.
Key Dates
| Date | Description |
|---|---|
| 09/06/2023 | Limited power of attorney filed with the SEC. |
| 01/01/2025 | Date of transaction: Acquisition of 21,186 restricted stock units. |
| 01/03/2025 | Date of signature on the Form 4 filing. |
| 01/01/2026 | Vesting date for 100% of the restricted stock units. |
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