PTEN EVP disposes shares for RSU tax withholding
PATTERSON-UTI ENERGY INC Executive Vice President Kenneth N. Berns reported an insider transaction involving company Common Stock.
Rhea-AI Filing Summary
PATTERSON-UTI ENERGY INC Executive Vice President Kenneth N. Berns reported an insider transaction involving company Common Stock. On May 5, 2026, he disposed of 12,680 shares at $12.29 per share to pay applicable withholding taxes on Restricted Stock Units that converted into Common Stock.
After this tax-withholding disposition, Berns directly holds 1,056,083 shares of Common Stock. In addition, 34,000 shares are held indirectly through trust(s) for which he serves as trustee.
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Insider Trade Summary
Exercise Price or Tax Liability: 12,680 shares
Exercise Price or Tax Liability
2 txns
Insider
BERNS KENNETH N
Role
Executive Vice President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise Price or Tax Liability | Common Stock | 12,680 | $12.29 | $156K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 1,056,083 shares (Direct);
Common Stock — 34,000 shares (Indirect, By Trust(s))
Footnotes (2)
- F1. Shares disposed to pay applicable withholding taxes on Restricted Stock Units converted into Common Stock on May 5, 2026.
- F2. Held by trust(s) for which the reporting person is the trustee.
Key Figures
Tax-withholding shares disposed: 12,680 shares
Disposition price per share: $12.29 per share
Direct holdings after transaction: 1,056,083 shares
+2 more
5 metrics
Tax-withholding shares disposed
12,680 shares
Common Stock delivered to pay RSU withholding taxes on May 5, 2026
Disposition price per share
$12.29 per share
Price for 12,680 Common Stock shares used for tax withholding
Direct holdings after transaction
1,056,083 shares
Common Stock directly held by Kenneth N. Berns following tax-withholding disposition
Indirect trust holdings
34,000 shares
Common Stock held by trust(s) for which Berns is trustee
Tax-withholding transactions count
1 transaction
Single code F disposition recorded in transaction summary
Key Terms
Restricted Stock Units, withholding taxes, tax-withholding disposition, Common Stock, +1 more
5 terms
Restricted Stock Units financial
"Restricted Stock Units converted into Common Stock on May 5, 2026."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
withholding taxes financial
"Shares disposed to pay applicable withholding taxes on Restricted Stock Units"
Withholding taxes are amounts a payer or government takes out of payments — such as wages, interest, or dividends — before the recipient gets the money, functioning like a cashier keeping part of a bill to pay taxes on your behalf. For investors this matters because it reduces the cash they actually receive, affects net returns and yield calculations, and may require additional paperwork or treaty claims to recover or offset the withheld amount against final tax bills.
tax-withholding disposition financial
"transaction_action": "tax-withholding disposition""
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
Common Stock financial
"Restricted Stock Units converted into Common Stock on May 5, 2026."
Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.
trust(s) financial
"Held by trust(s) for which the reporting person is the trustee."
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did PTEN executive Kenneth N. Berns report on May 5, 2026?
Kenneth N. Berns reported disposing of 12,680 shares of Patterson-UTI Energy Common Stock on May 5, 2026. The shares were delivered to cover applicable withholding taxes on Restricted Stock Units that converted into Common Stock on the same date, according to the filing footnote.
What does transaction code F mean in the PTEN Form 4 for Kenneth N. Berns?
Transaction code F on the Form 4 indicates a tax-withholding disposition, meaning shares were delivered to pay an exercise price or tax liability. In this case, 12,680 shares were disposed of specifically to cover applicable withholding taxes on Restricted Stock Units converting into Common Stock.
Does this PTEN Form 4 show any new stock option exercises by Kenneth N. Berns?
The provided data do not show any new derivative or option exercise transactions. The Form 4 records a tax-withholding disposition of 12,680 common shares tied to Restricted Stock Units converting into Common Stock, with no separate derivative transaction entries listed in the derivative summary section.
AI-generated analysis. How Rhea-AI works. Not financial advice.
