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

What Happened Joel Bender — reported as a 10% owner of Cactus, Inc. (WHD) — is associated with a set of transactions on Sept. 1, 2026 that included an open‑market sale of 100,000 shares at $70.37 per share (total proceeds $7,037,200). The filings show related unit redemptions and conversions: units and corresponding Class B common shares were redeemed and converted into Class A common stock, and certain Class B shares were disposed of and cancelled by the issuer. The sale of 100,000 shares was executed by Bender Investment Company pursuant to a Rule 10b5‑1 trading plan; the reporting person disclaims beneficial ownership of those shares except to the extent of his pecuniary interest.

Key Details

• Transaction date: September 1, 2026. Open‑market sale price: $70.37/share; total proceeds ≈ $7,037,200.
• Multiple related entries report grants/other acquisitions and dispositions tied to unit redemptions and conversions between Class B, Units, and Class A shares.
• Per footnotes: Bender Investment Company redeemed interests in Cactus Enterprises, received 100,000 Units and corresponding Class B shares, and those Units/Class B shares were redeemed for 100,000 shares of Class A common stock. Some Class B shares were cancelled by the issuer.
• Shares reported sold were executed by Bender Investment Company under a Rule 10b5‑1 plan (footnote F6). The reporting person disclaims direct beneficial ownership of those sold shares except for any pecuniary interest.
• Post‑transaction reported holdings (per filing): the 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.
• Filing date: September 2, 2026 (transaction reported for 2026‑09‑01); the filing appears timely.

Context

• This report involves a 10% owner and related entity transactions (unit redemptions and share conversions) rather than a straightforward executive purchase or sale; the sale itself was carried out by an affiliated investment company under a pre‑existing 10b5‑1 plan. For retail investors: purchases by insiders tend to be more informative as bullish signals, while redemptions/conversions and plan‑driven sales (like this one) can reflect portfolio or structural changes rather than a direct signal about company prospects.