Form 4: Patterson-UTI Energy Inc. Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Seth David Wexler, EVP/General Counsel/Secretary of Patterson-UTI Energy Inc., disposed of shares to cover withholding taxes on restricted stock units.
Summary
- On May 5, 2024, Seth David Wexler, an executive at Patterson-UTI Energy Inc., disposed of 8,185 shares of common stock to cover applicable withholding taxes.
- The shares were sold at a price of $10.68 per share.
- Following the transaction, Wexler directly owns 314,630 shares of Patterson-UTI Energy Inc.
Sentiment
Score: 5
Explanation: Neutral sentiment as it reflects a routine transaction related to tax obligations.
Industry Context
This filing is a routine disclosure of an insider transaction, common for executives receiving stock-based compensation. It provides transparency into the trading activities of company insiders.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 05/05/2024 | Date of transaction: disposal of shares to cover withholding taxes. |
| 05/07/2024 | Date of signature on the Form 4 filing. |
| 6/11/2013 | Date of Limited Power of Attorney filed with the SEC. |
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