Form 4: Patterson-UTI Energy Inc. Executive Charles Andrew Smith Reports Stock Disposal for Tax Obligations
SEC Form 4
Charles Andrew Smith, EVP & Chief Financial Officer of Patterson-UTI Energy Inc., disposed of 8,838 shares of common stock to cover withholding taxes related to the conversion of Restricted Stock Units.
Summary
- On April 29, 2025, Charles Andrew Smith, the EVP & Chief Financial Officer of Patterson-UTI Energy Inc. (PTEN), disposed of 8,838 shares of common stock.
- The transaction was executed to cover applicable withholding taxes on Restricted Stock Units that were converted into common stock.
- The price per share for the disposal was $6.01.
- Following the transaction, Smith directly owns 618,514 shares of Patterson-UTI Energy Inc.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to stock transactions by an executive. It doesn't inherently convey positive or negative sentiment.
Industry Context
This Form 4 filing is a routine disclosure related to executive compensation and stock ownership. It is common for executives to dispose of shares to cover tax obligations when stock options or restricted stock units vest.
Key Dates
| Date | Description |
|---|---|
| 09/08/2017 | Limited Power of Attorney filed with the SEC. |
| 04/29/2025 | Date of transaction: disposal of 8,838 shares of common stock. |
| 05/01/2025 | Date of signature on the Form 4 filing. |
Keywords
Form 4, Patterson-UTI Energy Inc, PTEN, Charles Andrew Smith, EVP & Chief Financial Officer, Stock Disposal, Restricted Stock Units, Withholding Taxes, Beneficial Ownership
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