Form 4: Patterson-UTI Executive Reports Stock Withholding

Executive Vice President Kenneth N. Berns disposed of 12,680 shares of Patterson-UTI Energy to cover tax obligations.

Summary

• Kenneth N. Berns, Executive Vice President of Patterson-UTI Energy, disposed of 12,680 shares of common stock.
• The transaction occurred on May 5, 2026, at a price of $12.29 per share.
• The disposal was executed to satisfy tax withholding requirements related to the vesting of Restricted Stock Units.
• Following the transaction, the reporting person maintains direct ownership of 1,056,083 shares and indirect ownership of 34,000 shares held in trust.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, as it is a mandatory administrative action for tax purposes and does not indicate a change in executive confidence.

Positives

• The transaction was a routine tax withholding event rather than a discretionary sale of shares.
• The executive retains a significant equity stake of over 1 million shares, signaling continued alignment with shareholder interests.

Negatives

• The transaction represents a reduction in the direct shareholding of a key executive.

Risks

• None identified; this is a standard administrative transaction related to equity compensation.

Future Outlook

Not applicable; this is a historical disclosure of an insider transaction.

Management Comments

• The disposal was made to pay applicable withholding taxes on Restricted Stock Units converted into Common Stock.

Industry Context

StockSavvy.ai notes that routine tax-related share disposals by executives are standard industry practice and generally do not reflect a change in sentiment regarding the company's long-term prospects.

Comparison to Industry Standards

• The transaction aligns with standard corporate governance practices for equity-based compensation in the energy sector.
• The retention of over 1 million shares by the executive is consistent with high-level management ownership standards in mid-cap energy firms.

Stakeholder Impact

• Minimal impact on shareholders as the transaction was a non-discretionary tax withholding event.

Next Steps

• No further actions required by the reporting person regarding this specific transaction.

Key Dates

Keywords

PTEN, Patterson-UTI Energy, Insider Trading, Form 4, Executive Compensation, Stock Withholding