Form 4: Wexler Sells PTEN Shares for Tax Withholding

Seth David Wexler, EVP, General Counsel & Secretary of PATTERSON UTI ENERGY INC, reported a disposition of 10,363 common shares on May 9, 2026, to cover tax withholding obligations.

Summary

• Seth David Wexler, an executive officer of PATTERSON UTI ENERGY INC (PTEN), reported a transaction on May 9, 2026.
• The transaction involved the disposition of 10,363 shares of common stock.
• These shares were disposed of to cover applicable withholding taxes related to the conversion of Restricted Stock Units (RSUs) into common stock.
• The sale price for these shares was $11.42 per share.
• Following this transaction, Mr. Wexler beneficially owns 524,582 shares of common stock directly.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing. It reports a standard insider transaction for tax purposes, which does not inherently signal positive or negative sentiment about the company's future performance.

Negatives

• Disposition of company stock by an executive, although for tax purposes, can sometimes be perceived negatively by the market if not clearly explained.
• The sale price of $11.42 per share indicates the value at which the withholding taxes were calculated, which may be relevant for understanding the executive's tax liability at that time.

Future Outlook

This filing does not contain forward-looking statements or guidance regarding future company performance. It solely reports a past transaction by an insider.

Industry Context

StockSavvy.ai notes that Form 4 filings are standard disclosures for insider transactions. The disposition of shares by executives to cover tax liabilities upon vesting of equity awards is a common occurrence and is typically not indicative of a change in the executive's long-term view of the company's prospects, provided it is a planned event for tax management.

Stakeholder Impact

• Shareholders: The disposition of shares by an executive for tax purposes is a routine event and is unlikely to have a significant direct impact on the share price, assuming it aligns with typical compensation practices.
• Employees: This transaction relates to executive compensation and equity awards, which is a standard component of employee benefits for senior management.
• Management: The transaction reflects the standard process for managing tax liabilities associated with equity compensation.

Key Dates

Keywords

Form 4, SEC Filing, Insider Transaction, Stock Disposition, Tax Withholding, Restricted Stock Units, PATTERSON UTI ENERGY INC, PTEN, Seth David Wexler, Executive Officer