Cactus (WHD) 10% Owner Scott Bender Sells 100,000 Shares

What Happened

• Scott Bender, a reported 10% owner of Cactus, Inc. (WHD), sold 100,000 shares in an open-market transaction on September 1, 2026 at $70.37 per share, for a total of $7,037,200. The Form 4 also reports related unit/share redemptions and conversions: Bender Investment Company (BIC), controlled by the reporting person, redeemed certain ownership interests in Cactus Enterprises, received 100,000 Units and corresponding Class B shares, redeemed those Units for 100,000 shares of Class A common stock, and had the corresponding Class B shares cancelled by the issuer.
• Several other entries in the filing are coded as other acquisitions/dispositions (J) and grants/awards (A) reflecting the unit/share redemptions and conversions rather than additional open-market buys. One of the sales was executed pursuant to a Rule 10b5-1 trading plan.

Key Details

• Transaction date: September 1, 2026; open-market sale price: $70.37; proceeds: $7,037,200.
• Shares owned after transaction: Reporting person is deemed to beneficially own 9,161,249 shares of Class B Common Stock and 9,161,249 Units held by Cactus Enterprises (per filing).
• Notable footnotes: sale shares were sold by Bender Investment Company under a Rule 10b5-1 plan (F6); Units and corresponding Class B shares were redeemed for Class A Common Stock on Sep 1, 2026 (F10); corresponding Class B shares were cancelled by the issuer (F4); Bender disclaims beneficial ownership of securities held directly by Cactus Enterprises except for his indirect pecuniary interest (F3,F6).
• Filing timeliness: Form 4 was filed Sep 2, 2026 reporting transactions on Sep 1, 2026 (no delinquency noted).

Context

• This report reflects a mix of a routine open-market sale (via a 10b5-1 plan) and corporate-level unit/share redemptions and conversions between Cactus Enterprises, Class B Common Stock, and Class A Common Stock. As a 10% owner with indirect holdings through entities (Cactus Enterprises and Bender Investment Company), the reported transfers relate largely to entity-level redemptions and a planned sale rather than a simple executive buy/sell signal.