Form 4: Patterson-UTI Executive Insider Stock Transactions
Statement of Changes in Beneficial Ownership
EVP and General Counsel Seth David Wexler reported equity transactions involving restricted stock units and common stock.
Summary
- Seth David Wexler, EVP/General Counsel/Secretary, acquired 49,300 restricted stock units on April 30, 2026.
- The reporting person disposed of 11,438 shares on May 1, 2026, to cover tax withholding obligations.
- The reporting person settled 20,600 cash-settled restricted stock units on May 1, 2026.
- Following these transactions, the reporting person holds 543,130 shares of common stock directly.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a neutral administrative filing regarding executive compensation and tax obligations, with no material impact on company strategy or financial health.
Positives
- Continued alignment of executive interests with shareholders through equity-based compensation.
Negatives
- Routine disposal of shares to satisfy tax obligations associated with equity vesting.
Risks
- Market price volatility affecting the value of future equity-based compensation.
Future Outlook
The filing indicates future vesting of restricted stock units in one-third increments on April 30, 2027, 2028, and 2029.
Industry Context
StockSavvy.ai notes that this filing represents standard executive compensation activity within the energy services sector, reflecting typical equity vesting schedules for senior leadership.
Comparison to Industry Standards
- The use of restricted stock units and cash-settled units is consistent with standard executive compensation practices among major oilfield services companies like Halliburton and Baker Hughes.
Stakeholder Impact
- No material impact on shareholders, employees, or creditors as these are standard executive compensation transactions.
Next Steps
- Vesting of remaining restricted stock units scheduled for April 30, 2027, 2028, and 2029.
Key Dates
| Date | Description |
|---|---|
| 04/30/2026 | Grant of restricted stock units and cash-settled restricted stock units. |
| 05/01/2026 | Vesting and settlement of restricted stock units and tax withholding transaction. |
| 05/04/2026 | Filing date of the Form 4. |
Keywords
Patterson-UTI, PTEN, Insider Trading, Form 4, Executive Compensation, Restricted Stock Units
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