Patterson-UTI (PTEN) Director Robert Drummond Sells Shares

What Happened Robert W. Drummond Jr, a director of Patterson‑UTI Energy, sold a total of 200,000 shares in two open‑market transactions: 1,605 shares on 2026‑09‑01 for $12.85 each (reported value $20,624) and 198,395 shares on 2026‑09‑02 at a weighted average price of $12.85 (reported value $2,549,376). Combined proceeds reported equal $2,570,000. This filing reports sales (dispositions), which are routine insider liquidity events rather than purchases that might signal buying conviction.

Key Details

• Transaction dates: 2026‑09‑01 (1,605 sh) and 2026‑09‑02 (198,395 sh).
• Prices/values: weighted average reported $12.85; proceeds $20,624 and $2,549,376, respectively; total ~$2.57M.
• Footnote: Price is a weighted average; individual trades ranged $12.85–$12.86. The filer offers to provide a per‑trade price breakdown on request (Footnote F1).
• Shares owned after transaction: Not disclosed in the provided filing.
• Filing date: Form 4 filed 2026‑09‑03; appears timely for these transaction dates (no late‑filing flag noted).

Context These were outright open‑market sales (transaction code S). The filing contains no indication of option exercises, gifts, or tax‑withholding shares. Sales by directors can reflect routine portfolio or liquidity needs and do not by themselves indicate the director’s view of the company’s prospects.