Cactus (WHD) 10% Owner Scott Bender Sells 13,300 Shares

What Happened
Scott Bender (reported as a 10% owner) reported multiple transactions on July 27, 2026. The filings show an open‑market sale of 13,300 Cactus shares at $55.07 each for proceeds of approximately $732,391. Separately, transactions reflect a series of unit/Class B redemptions and conversions: Bender Investment Company (BIC) redeemed a portion of its ownership interests in Cactus Enterprises, received 100,000 Units and corresponding Class B shares, and those Units/Class B shares were redeemed/converted into 100,000 shares of Class A common stock (per the 1:1 redemption ratio in the LLC agreements). The corresponding Class B shares disposed in the redemption were cancelled by the issuer.

Key Details

• Transaction date: July 27, 2026; Form 4 filed July 29, 2026 (timely filing).
• Open‑market sale: 13,300 shares at $55.07 each = ~$732,391 in proceeds.
• Redemption/conversion: 100,000 Units and corresponding 100,000 Class B shares were redeemed and converted into 100,000 Class A common shares (1:1 redemption ratio). The cancelled Class B shares were disposed by BIC.
• Shares beneficially owned after transactions: 9,386,249 Class B shares and 9,386,249 Units (held by Cactus Enterprises) as reported.
• Reporter/ownership structure notes: Securities reported are directly owned by Cactus Enterprises; Scott Bender may be deemed to have an indirect pecuniary interest via his ownership in Cactus Enterprises. The shares sold were reported as sold by Bender Investment Company; the reporting person disclaims beneficial ownership except to the extent of his pecuniary interest.

Context

• These filings reflect both an open‑market sale (cash proceeds) and corporate redemption/conversion mechanics under the Cactus Enterprises LLC agreements (Units can be redeemed for Class A shares at a 1:1 ratio).
• As a ~10% owner, Bender’s transactions largely involve entity-level redemptions and conversions rather than simple executive buys/sells; the open‑market sale was executed by Bender Investment Company.
• No option exercises or tax‑withholdings are indicated; the conversion/redemption resulted in cancellation of the corresponding Class B shares and issuance of Class A shares.