Nine Energy (NINE) director sees 108,409 common shares cancelled in Chapter 11 emergence

Rhea-AI Filing Summary

Nine Energy Service, Inc. director Darryl Keith Willis reported a disposition of 108,409 shares of common stock on March 4, 2026. The Form 4 shows this as a disposition to the issuer for no consideration, leaving him with 0 shares directly owned after the transaction.

According to the footnote, this occurred in connection with Nine Energy Service’s emergence from Chapter 11 bankruptcy, when all outstanding common shares were cancelled without any payment to holders.

Positive

• None.

Negative

• All existing common stock cancelled with no consideration on emergence from Chapter 11, wiping out the value of legacy Nine Energy Service shareholders’ equity.
• Director’s entire reported holding of 108,409 common shares reduced to zero through issuer cancellation rather than a compensating sale or exchange.

Insights

Bankruptcy & restructuring analyst

Common equity in Nine Energy Service was wiped out as part of its Chapter 11 emergence.

The Form 4 shows director Darryl Keith Willis disposing of 108,409 shares of common stock at a stated price of 0.0000 per share. The footnote explains that this was not a voluntary sale but a cancellation of all common shares when Nine Energy Service, Inc. emerged from Chapter 11 bankruptcy.

This means existing common shareholders, including the reporting person, received no consideration for their equity, and the reported post-transaction balance is 0 shares. The filing highlights how, in Chapter 11 restructurings, legacy equity can be fully cancelled while new securities or ownership are allocated under the court-approved plan.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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X

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Willis Darryl Keith

(Last) (First) (Middle)

2001 KIRBY DRIVE, SUITE 200

(Street)

HOUSTON TX 77019

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Nine Energy Service, Inc. [ NINE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
03/04/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/04/2026		D		108,409	D	$0(1)	0	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. On March 4, 2026, in connection with the emergence of Nine Energy Service, Inc. (the "Issuer") from Chapter 11 bankruptcy, all of the Issuer's shares of common stock, par value $0.01 per share, were cancelled for no consideration.

	/s/ Darryl K. Willis by Theodore R. Moore, as Attorney-in-fact	03/06/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did Nine Energy Service (NINE) report for Darryl Keith Willis?

Nine Energy Service reported that director Darryl Keith Willis disposed of 108,409 common shares on March 4, 2026. The Form 4 lists this as a disposition to the issuer for no consideration, leaving him with 0 shares directly owned afterward.

Why were Nine Energy Service (NINE) shares cancelled on March 4, 2026?

On March 4, 2026, all Nine Energy Service common shares were cancelled in connection with the company’s emergence from Chapter 11 bankruptcy. The footnote states that shareholders received no consideration for these cancelled shares as part of the restructuring.

How many Nine Energy Service (NINE) shares did Darryl Keith Willis own after the reported transaction?

After the reported transaction, Darryl Keith Willis owned 0 shares of Nine Energy Service common stock. The Form 4 shows his 108,409 shares were disposed of to the issuer for no consideration when all common stock was cancelled at emergence.

Was the Nine Energy Service (NINE) insider transaction a sale on the open market?

No, the transaction was recorded as a disposition to the issuer, not an open-market sale. The shares were cancelled for no consideration when Nine Energy Service emerged from Chapter 11 bankruptcy, affecting all outstanding common stock, not just this insider.

What does ‘no consideration’ mean for Nine Energy Service (NINE) shareholders in this filing?

‘No consideration’ means shareholders, including the reporting director, received no cash or other value for their cancelled common stock. In this case, all Nine Energy Service common shares were cancelled upon emergence from Chapter 11 bankruptcy without any payment to equity holders.