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Select Water Solutions, Inc.·4/A

Apr 10, 4:48 PM ET

Crestview Partners II GP, L.P. 4/A

4/A · Select Water Solutions, Inc. · Filed Apr 10, 2026

Research Summary

AI-generated summary of this filing

Updated

Select Water Solutions (WTTR) Crestview Sells 3.10M Shares

What Happened
Crestview Partners II GP, L.P. (a 10% owner via affiliated Crestview entities) reported multiple transactions on 2026-04-08 in Select Water Solutions (WTTR). The filing shows two cash sales: 665,983 Class A shares sold at $15.12 each for $10,069,663, and 2,430,240 Class A shares sold at $15.12 each for $36,745,229 — total proceeds of $46,814,892 for 3,096,223 shares. The report also records conversion(s) of 2,430,240 derivative securities/units and related dispositions/redemptions/cancellations as described in the footnotes.

Key Details

  • Transaction date: 2026-04-08. Sales prices: $15.12 per share for the reported open-market/private sales.
  • Shares sold: 665,983 and 2,430,240 (total 3,096,223) for combined cash proceeds ≈ $46.8M.
  • Derivative activity: 2,430,240 units/derivative securities were converted and reported as both acquired (conversion) and disposed (redemption/cancellation) per footnotes.
  • Shares owned after transaction: filing notes 3,233,212 Class A shares directly beneficially owned by Crestview II SES B; Crestview Partners II GP may be deemed to beneficially own the Crestview entities’ holdings (see footnotes).
  • Notable footnotes: redemption of SES Holdings LLC units in exchange for Class A shares (or cash), cancellation of corresponding Class B shares, and clarification of beneficial ownership and voting/dispositive power among Crestview entities.
  • Filing status: This is an AMENDED Form 4. The amendment corrects that Robert V. Delaney, Jr. is not a company director and removes him as a filing person.

Context

  • This is institutional/10% owner activity (Crestview entities), not an individual executive’s routine trade; institutional sales can reflect portfolio or liquidity decisions and are not direct statements of management sentiment.
  • The filing shows conversion/redemption of redeemable LLC units into Class A shares (and related cancellations) alongside cash sales; the derivatives activity reflects structural changes between units and share holdings rather than a simple option exercise.
  • No 10b5-1 plan or late-filing flag is indicated in the provided information.

Insider Transaction Report

Form 4/AAmended
Period: 2026-04-08
Select Water Solutions, Inc.WTTR
Crestview Partners II GP, L.P.
10% Owner
Transactions
  • Sale

    Class A Common Stock

    [F1][F4][F5][F8]
    2026-04-08$15.12/sh−665,983$10,069,663→ 3,233,212 total(indirect: See Footnotes)
  • Conversion

    Class A Common Stock

    [F2][F5][F7][F8]
    2026-04-08+2,430,240→ 2,430,240 total(indirect: See Footnotes)
  • Disposition to Issuer

    Class B Common Stock

    [F2][F3][F5][F7][F8]
    2026-04-08−2,430,240→ 13,790,861 total(indirect: See Footnotes)
  • Sale

    Class A Common Stock

    [F5][F7][F8]
    2026-04-08$15.12/sh−2,430,240$36,745,229→ 0 total(indirect: See Footnotes)
  • Conversion

    Common LLC Units

    [F1][F6][F5][F7][F8]
    2026-04-08−2,430,240→ 13,790,861 total(indirect: See Footnotes)
    → Class A Shares (2,430,240 underlying)
Footnotes (8)
  • [F1]Reflects 569,760 shares of Class A Common Stock of the Issuer ("Class A Shares") sold by Crestview Partners II SES Investment B, LLC ("Crestview II SES B"), and 96,223 Class A Shares sold by Crestview Advisors, L.L.C.
  • [F2]Reflects the redemption (the "Redemption") by the Reporting Persons of Common LLC Units ("Units") of SES Holdings, LLC ("SES Holdings"), a subsidiary of the Issuer, indirectly owned by Crestview Partners II SES Investment, LLC ("Crestview II SES") though SES Legacy Holdings, LLC ("Legacy Holdings").
  • [F3]Reflects the cancellation for no consideration of a number shares of Class B Common Stock of the Issuer ("Class B Shares") indirectly owned by Crestview II SES though Legacy Holdings equal to the number of Units redeemed by the Reporting Persons pursuant to their terms in connection with the Redemption.
  • [F4]Reflects 3,233,212 Class A Shares directly beneficially owned by Crestview II SES B.
  • [F5]Represents Class B Shares indirectly beneficially owned by Crestview II SES (together with Crestview II SES B and Crestview Advisors, L.L.C., the "Crestview Entities") through Legacy Holdings.
  • [F6]Represents Units of SES Holdings, indirectly owned by Crestview II SES through Legacy Holdings. The Units are redeemable by Legacy Holdings at any time in exchange for newly-issued Class A Shares on a one-for-one basis (subject to conversion rate adjustments for stock splits, stock dividends, reclassification and other similar transactions) (or, at the election of SES Holdings or the Issuer, cash in an amount equal to the Cash Election Value of such Class A Shares (as defined in the SES Holdings LLC Agreement to be the trailing 10-day VWAP of the Class A Shares)).
  • [F7]Crestview Partners II GP, L.P. may be deemed to have beneficial ownership of the Class A Shares held by Crestview II SES B and Crestview Advisors, L.LC. and the Class B Shares and Common LLC Units of SES Holdings indirectly held by Crestview II SES. Crestview Partners II GP, L.P. exercises voting and dispositive power over the foregoing Class A Shares, Class B Shares and Common LLC Units held by the Crestview Entities, which decisions are made by the investment committee of Crestview Partners II GP, L.P. and the Chairman of the investment committee.
  • [F8]Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein.
Signature
By: Crestview Partners II GP, L.P., the Designated Filer, by: Crestview, L.L.C., its general partner, by: /s/ Poojitha Mantha, Chief Compliance Officer|2026-04-10

Documents

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