Drummond Robert Wayne Jr 4
4 · PATTERSON UTI ENERGY INC · Filed May 4, 2026
Research Summary
AI-generated summary of this filing
Patterson-UTI (PTEN) Director Robert W. Drummond Jr. Sells Shares
What Happened
Robert W. Drummond Jr., a director of Patterson-UTI Energy, Inc. (PTEN), sold a total of 384,174 shares in two open-market transactions. On 2026-05-01 he sold 322,699 shares for reported proceeds of $3,885,296 (weighted-average price $12.04), and on 2026-05-04 he sold 61,475 shares for $738,930 (weighted-average price $12.02). Combined proceeds from the sales were about $4.62 million. These were outright sales (transaction code S), not purchases or option exercises.
Key Details
- Dates and reported prices:
- 2026-05-01: 322,699 shares sold; weighted-average $12.04; proceeds $3,885,296. (Footnote F1: actual trade prices ranged $12.00–$12.18.)
- 2026-05-04: 61,475 shares sold; weighted-average $12.02; proceeds $738,930. (Footnote F2: actual trade prices ranged $12.00–$12.10.)
- Total shares sold: 384,174; total proceeds ≈ $4,624,226.
- Shares owned after the transactions: not specified in the provided filing excerpt.
- Footnotes: Both prices are weighted averages; the filer will provide a breakdown of the individual trade prices upon request (F1, F2).
- Timeliness: Filing date 2026-05-04 for trades on 2026-05-01 and 2026-05-04 — appears to have been filed within the usual Form 4 reporting window.
Context
These were open-market sales by a company director. Sales are often routine (liquidity, portfolio management, tax reasons) and do not necessarily signal the director’s view of the company’s prospects. No option exercises, gifts, or 10% owner activity are indicated in this report.
Insider Transaction Report
- Sale
Common Stock
[F1]2026-05-01$12.04/sh−322,699$3,885,296→ 1,190,248 total - Sale
Common Stock
[F2]2026-05-04$12.02/sh−61,475$738,930→ 1,128,773 total
Footnotes (2)
- [F1]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $12.00 to $12.18, inclusive. The Reporting Person undertakes to provide to Patterson-UTI Energy, Inc., any security holder of Patterson-UTI Energy, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F2]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $12.00 to $12.10, inclusive. The Reporting Person undertakes to provide to Patterson-UTI Energy, Inc., any security holder of Patterson-UTI Energy, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.