Drummond Robert Wayne Jr 4
4 · PATTERSON UTI ENERGY INC · Filed Mar 18, 2026
Research Summary
AI-generated summary of this filing
Patterson-UTI (PTEN) Director Robert Drummond Sells 164,775 Shares
What Happened Robert Wayne Drummond Jr., a director of Patterson-UTI Energy, sold 164,775 common shares in open-market transactions on March 16, 2026. The weighted-average sale price was $10.18 per share (range $10.14–$10.25), producing total gross proceeds of approximately $1,677,410. The filing notes the shares were held by trust(s) for which Drummond is a trustee.
Key Details
- Transaction date: 2026-03-16 (reported on Form 4 filed 2026-03-18).
- Transaction type: Open-market sale (Code S).
- Shares sold: 164,775; weighted-average price $10.18; price range $10.14–$10.25.
- Proceeds: ~ $1,677,410.
- Shares owned after transaction: Not disclosed in this filing.
- Footnotes: F1 — weighted-average price; filer can provide per-trade breakdown on request. F2 — shares were held by trust(s) for which the reporting person is trustee.
- Timeliness: Filed within two business days (timely).
Context Sales by directors can be routine (liquidity, trust distributions, portfolio rebalancing) and do not by themselves indicate a change in company prospects. Because these shares were held in trusts for which Drummond is trustee, the sale may reflect trust-level decisions rather than a direct personal view on Patterson-UTI’s outlook.
Insider Transaction Report
- Sale
Common Stock
[F1][F2]2026-03-16$10.18/sh−164,775$1,677,410→ 0 total(indirect: By Trust)
- 1,512,947
Common Stock
Footnotes (2)
- [F1]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $10.14 to $10.25, 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]Held by trust(s) for which the reporting person is a trustee.