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 9, 2025, Seth David Wexler, an executive at Patterson-UTI Energy Inc., disposed of 10,363 shares of common stock to cover applicable withholding taxes.
- The shares were sold at a price of $5.84 per share.
- Following the transaction, Wexler directly owns 505,268 shares of Patterson-UTI Energy Inc.
Sentiment
Score: 5
Explanation: Neutral sentiment as it's a routine transaction to cover tax obligations; no indication of positive or negative implications for the company.
Industry Context
This is a routine Form 4 filing, reflecting an insider transaction related to tax obligations on vested equity. It's common for executives to sell shares to cover these liabilities.
Stakeholder Impact
- The transaction has minimal impact on stakeholders as it is a routine sale to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 06/11/2013 | Filing date of Limited Power of Attorney with the SEC. |
| 05/09/2025 | Date of the transaction where shares were disposed of to cover withholding taxes. |
| 05/12/2025 | Date of signature for the Form 4 filing. |
Keywords
Form 4, Patterson-UTI Energy Inc, PTEN, Seth David Wexler, insider trading, stock disposal, restricted stock units, withholding taxes
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