MARSH WILLIAM D 4

What Happened

• William D. Marsh, General Counsel, Executive Vice President and Secretary of Cactus, Inc. (WHD), was issued 18,330 shares on February 26, 2026 as earned performance share units (PSUs) from a 2023 grant. To satisfy tax withholding on the vesting, the company withheld/disposed of 7,213 shares at an implied value of $51.56 per share, totaling $371,902.
• This was an award/vesting event (not an open-market sale). The withholding of shares for taxes is routine and does not necessarily indicate a change in insider sentiment.

Key Details

• Transaction date: 2026-02-26; Form 4 filed: 2026-03-02 (filed within the standard two-business-day window).
• Award (code A): 18,330 shares acquired (performance period ended 12/31/2025).
• Withholding/disposition (code F): 7,213 shares withheld at $51.56/share for $371,902 to satisfy tax obligations.
• Shares owned after the transaction: not disclosed in the filing.
• Footnotes: F1 — shares earned from 2023 PSUs covering the three-year performance period through 12/31/2025, approved based on audited 2025 results. F2 — shares were withheld by the company to satisfy tax withholding upon vesting of previously granted restricted stock units.

Context

• These transactions reflect vested equity (PSUs/RSUs) and company withholding to meet tax obligations, not a market sale by the insider. For retail investors, acquisitions (purchases) typically carry more informational weight; vesting and tax-withholding events are routine compensation mechanics.