Bender Steven 4

What Happened

• Steven Bender, Chief Operating Officer of Cactus, Inc. (WHD), received a grant of 14,290 restricted stock units (RSUs) on March 10, 2026.
• Related to vesting/conversion activity on March 10–11, 2026, a total of 13,581 shares were converted/issued (4,583 + 4,027 + 4,971). To satisfy tax withholding obligations, the company withheld 1,804, 1,585 and 1,957 shares at prices around $48.56–$48.60, generating proceeds of $87,674, $77,031 and $95,032 respectively (total withheld value $259,737). The conversion entries are reported as derivative exercises/conversions (M) and the withholding/sale entries as tax withholding (F). This is issuance and tax-withholding activity—not an open-market sale or purchase.

Key Details

• Transaction dates: March 10–11, 2026; Form 4 filed March 12, 2026 (timely).
• New grant: 14,290 RSUs granted March 10, 2026, vesting in three equal annual installments beginning March 10, 2027.
• Conversion/vesting: 4,583; 4,027; and 4,971 shares converted/issued (reported as M, $0 per share for conversion).
• Tax withholding (dispositions): 1,804 shares @ $48.60 = $87,674; 1,585 shares @ $48.60 = $77,031; 1,957 shares @ $48.56 = $95,032. Total withheld value = $259,737. (Footnote confirms shares were withheld to satisfy tax obligations.)
• Shares owned after the transactions: not specified in the provided filing summary.
• Notable footnotes: F1–F6 explain these are RSUs (each unit converts to one Class A share on vesting) and list prior RSU grants from 2023–2025 that vest in annual installments.

Context

• These entries reflect RSU grants and routine vesting/conversion with shares withheld to cover tax obligations (a cashless/withholding mechanism), not discretionary open-market selling or new purchases. Such withholding is common and does not necessarily indicate a change in insider sentiment.
• No 10b5-1 plan or late filing is indicated in the provided data.