Form 4: Patterson-UTI Energy Inc. Executive Charles Andrew Smith Reports Changes in Beneficial Ownership

EVP & Chief Financial Officer of Patterson-UTI Energy Inc., Charles Andrew Smith, reports acquisition and disposal of common stock and cash-settled restricted stock units.

Summary

• Charles Andrew Smith, EVP & Chief Financial Officer of Patterson-UTI Energy Inc., filed a Form 4 detailing changes in beneficial ownership.
• On May 1, 2025, Smith acquired 101,700 shares of common stock at $0 and 72,100 cash-settled restricted stock units.
• On May 5, 2025, Smith disposed of 11,943 shares of common stock at $6.03 to cover withholding taxes related to restricted stock units.
• Following these transactions, Smith directly owns 708,271 shares of common stock and 72,100 cash-settled restricted stock units.
• The restricted stock units and cash-settled restricted stock units vest in three equal installments on May 1, 2026, May 1, 2027, and May 1, 2028.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing detailing stock transactions. It doesn't convey any positive or negative sentiment about the company's performance or future prospects.

Future Outlook

The restricted stock units and cash-settled restricted stock units vest in three equal installments on May 1, 2026, May 1, 2027, and May 1, 2028.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, which is common in publicly traded companies. It provides transparency to investors regarding the executive's stake in the company.

Comparison to Industry Standards

• Executive stock ownership and trading activity is a common practice across the energy industry.
• Companies like Schlumberger, Halliburton, and Baker Hughes also have executives who regularly report their stock transactions via Form 4 filings.
• The vesting schedules for restricted stock units are fairly standard, typically ranging from three to five years.

Stakeholder Impact

• The filing provides transparency to shareholders regarding executive stock ownership.
• The transactions themselves are unlikely to have a significant impact on other stakeholders.

Key Dates

Keywords

Form 4, Beneficial Ownership, Patterson-UTI Energy Inc., PTEN, Charles Andrew Smith, EVP & Chief Financial Officer, Common Stock, Restricted Stock Units, Cash-Settled Restricted Stock Units, Acquisition, Disposal, Vesting