Form 4: Patterson-UTI Executive Reports Equity Transactions

Executive Vice President Kenneth N. Berns reported recent equity grants and cash-settled restricted stock unit activity.

Summary

• Kenneth N. Berns, Executive Vice President of Patterson-UTI Energy, Inc., filed a Form 4 disclosing changes in beneficial ownership.
• The reporting person received 47,900 restricted stock units on April 30, 2026, vesting in three equal annual installments starting April 30, 2027.
• A total of 11,157 shares were withheld for tax purposes on May 1, 2026.
• The reporting person settled 20,033 cash-settled restricted stock units on May 1, 2026, resulting in a cash payment rather than share issuance.
• Following these transactions, the reporting person maintains a direct ownership of 1,068,763 shares and indirect ownership of 34,000 shares via trusts.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral regulatory filing reflecting standard executive compensation activity with no impact on company fundamentals.

Positives

• Continued alignment of executive interests with shareholders through significant equity-based compensation.
• Transparent disclosure of tax withholding and cash-settled unit activity.

Negatives

• None identified; this is a standard regulatory disclosure of executive compensation and tax-related transactions.

Risks

• Market volatility affecting the value of equity-based compensation.
• Regulatory compliance risks associated with Section 16 reporting requirements.

Future Outlook

The filing does not provide forward-looking financial guidance, as it is a disclosure of individual insider transactions.

Management Comments

• No narrative comments provided by management in this regulatory filing.

Industry Context

StockSavvy.ai notes that this filing is a routine disclosure of executive compensation and tax management, typical for large-cap energy services companies, and does not signal a change in corporate strategy or operational performance.

Comparison to Industry Standards

• The use of cash-settled restricted stock units is a standard industry practice for executive compensation to manage dilution while providing performance-based incentives.
• The reporting of tax withholding via share disposition is consistent with standard SEC compliance procedures for public company executives.

Stakeholder Impact

• Minimal impact on shareholders as these transactions represent standard executive compensation and tax obligations.

Next Steps

• Vesting of restricted stock units on April 30, 2027, April 30, 2028, and April 30, 2029.

Key Dates

Keywords

Patterson-UTI, PTEN, Form 4, Insider Trading, Executive Compensation, Restricted Stock Units