Drummond Robert Wayne Jr 4

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.