Form 4: Patterson-UTI Energy Inc. Executive Matthew Gillard Reports Acquisition of 65,900 Shares

Matthew Gillard, President-Completions at Patterson-UTI Energy Inc., acquired 65,900 shares of common stock on May 9, 2024, and now directly owns 174,692 shares.

Summary

• On May 9, 2024, Matthew Gillard, President-Completions at Patterson-UTI Energy Inc. (PTEN), acquired 65,900 shares of common stock.
• The acquisition was made at a price of $0.00 per share.
• Following the transaction, Gillard directly owns 174,692 shares of PTEN common stock.
• The acquired securities are restricted stock units that convert into common stock on a one-for-one basis.
• One-third of the restricted stock units vests on each of May 9, 2025, May 9, 2026 and May 9, 2027.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive as an executive acquiring shares generally signals confidence in the company's future. The restricted stock units also incentivize long-term performance.

Positives

• The acquisition of shares by a company executive can be seen as a positive sign, indicating confidence in the company's future prospects.

Future Outlook

The vesting schedule of the restricted stock units (May 9, 2025, May 9, 2026 and May 9, 2027) suggests a long-term commitment by the executive to the company's success.

Industry Context

Insider transactions are closely monitored by investors as they can provide insights into management's perspective on the company's valuation and future performance. Acquisitions are generally viewed more favorably than disposals.

Comparison to Industry Standards

• Comparing Matthew Gillard's holdings to those of executives at similar oilfield services companies like Halliburton (HAL) or Schlumberger (SLB) could provide context on the magnitude of his stake.
• Executive compensation packages often include restricted stock units as a way to align management's interests with those of shareholders, similar to practices at Baker Hughes (BKR) and Weatherford International (WFR).

Stakeholder Impact

• The acquisition of shares by an executive can positively influence shareholder sentiment.
• The vesting schedule of the restricted stock units may incentivize the executive to make decisions that benefit the company's long-term performance, which could positively impact employees, customers, and suppliers.

Key Dates