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Cactus, Inc.·4

Mar 12, 8:34 PM ET

MARSH WILLIAM D 4

Research Summary

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Cactus (WHD) GC William Marsh Converts RSUs, Gifts 3,910 Shares

What Happened

  • William D. Marsh, General Counsel, Executive VP and Secretary of Cactus, Inc. (WHD), had restricted stock units (RSUs) vest/convert into common shares on March 10–11, 2026, and received a new RSU grant. In total Marsh converted 12,449 RSU units into shares and was issued a new grant of 14,290 RSUs. To satisfy tax withholding on the vested awards the company withheld 4,901 shares for cash tax obligations, totaling $238,136 (three withholding transactions at $48.60, $48.60 and $48.56). Marsh also transferred (gifted) 3,910 shares on March 11, 2026.

Key Details

  • Transaction dates: March 10–11, 2026. Form 4 filed March 12, 2026 (timely).
  • Awards and conversions:
    • Grant: 14,290 RSUs awarded on March 10, 2026 (vest in three equal annual installments starting March 10, 2027). (Footnote F3)
    • Conversions/Exercises: 6,450, 2,685 (both March 10) and 3,314 (March 11) RSUs converted to shares (total 12,449).
  • Tax withholding (company withheld shares to cover taxes):
    • 2,539 shares withheld on 3/10 at $48.60 = $123,395
    • 1,057 shares withheld on 3/10 at $48.60 = $51,370
    • 1,305 shares withheld on 3/11 at $48.56 = $63,371
    • Total withheld value reported: $238,136
  • Gift: 3,910 shares transferred on 3/11/2026 (reported as Gift — does not necessarily reflect trading intent).
  • Shares owned following the transactions: not specified in the filing excerpt provided.
  • Other RSU grants referenced: prior grants on 3/10/2023 (19,349 RSUs), 3/11/2024 (9,943 RSUs), and 3/10/2025 (8,053 RSUs) per filing footnotes (F4–F6).

Context

  • These filings reflect RSU vesting/conversion and related tax-withholding rather than open-market purchases or sales for cash. The company withholding shares to cover taxes (code F) is routine and should not be interpreted as a market sell decision by the insider. The gift (code G) is a transfer and likewise does not necessarily indicate sentiment about the stock. The new RSU grant (code A) vests over three years, providing future equity compensation, not an immediate purchase.