Form 4: Patterson-UTI Energy Inc. Executive Matthew Gillard Sells 60,000 Shares

Matthew Gillard, President-Completions at Patterson-UTI Energy Inc., sold 60,000 shares of common stock at an average price of $9.87 on June 18, 2024.

Summary

• On June 18, 2024, Matthew Gillard, the President-Completions of Patterson-UTI Energy Inc. (PTEN), sold 60,000 shares of the company's common stock.
• The sale was executed at a weighted average price of $9.87 per share.
• The prices for individual transactions ranged from $9.84 to $9.90.
• Following the transaction, Gillard directly owns 114,692 shares of Patterson-UTI Energy Inc.

Sentiment

Score: 5

Explanation: This is a neutral event. It's a routine disclosure of an insider stock sale. The impact on investor sentiment is likely to be minimal unless the sale is perceived as a lack of confidence in the company's future prospects.

Industry Context

This Form 4 filing is a routine disclosure of insider transactions. It provides transparency into the trading activities of company executives, which can be of interest to investors monitoring management's perspective on the company's stock.

Stakeholder Impact

• The sale of shares by a company executive could be perceived negatively by shareholders if they interpret it as a lack of confidence in the company's future performance.

Key Dates