Form 4: Patterson-UTI Energy Inc. Executive James Michael Holcomb Reports Stock Transaction
SEC Form 4 Filing
EVP & Chief Business Officer of Patterson-UTI Energy Inc., James Michael Holcomb, reports disposition of shares to cover withholding taxes on restricted stock units.
Summary
- On May 5, 2024, James Michael Holcomb, EVP & Chief Business Officer of Patterson-UTI Energy Inc. (PTEN), disposed of 9,741 shares of common stock to cover withholding taxes.
- The shares were sold at a price of $10.68 per share.
- Following the transaction, Holcomb directly owns 350,839 shares of Patterson-UTI Energy Inc.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of a routine transaction related to executive compensation and tax obligations. It doesn't inherently indicate positive or negative sentiment.
Industry Context
Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders. This filing indicates a standard transaction related to executive compensation and tax obligations.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a standard procedure for covering tax obligations related to executive compensation.
Key Dates
| Date | Description |
|---|---|
| 05/05/2024 | Date of stock transaction: disposition of 9,741 shares. |
| 05/07/2024 | Date of signature on the report. |
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