Patterson-UTI (PTEN) EVP uses 12,096 shares to pay RSU taxes
Rhea-AI Filing Summary
PATTERSON-UTI ENERGY INC Executive Vice President Kenneth N. Berns reported routine share movements related to equity compensation. On May 9, 2026, 12,096 shares of common stock were disposed of to pay applicable withholding taxes on Restricted Stock Units that converted into common stock at $11.42 per share.
After this tax-withholding disposition, Berns held 1,043,987 shares of PATTERSON-UTI common stock directly. In addition, trusts for which he serves as trustee held a further 34,000 shares indirectly. The filing does not show open-market buying or selling, but rather administrative tax settlement tied to RSU vesting.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 12,096 shares
Net Sell
2 txns
Insider
BERNS KENNETH N
Role
Executive Vice President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise Price or Tax Liability | Common Stock | 12,096 | $11.42 | $138K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 1,043,987 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 9, 2026.
- F2. Held by trust(s) for which the reporting person is the trustee.
Key Figures
Shares used for tax withholding: 12,096 shares
Tax-withholding price: $11.42 per share
Direct holdings after transaction: 1,043,987 shares
+1 more
4 metrics
Shares used for tax withholding
12,096 shares
Common Stock, code F tax-withholding disposition on May 9, 2026
Tax-withholding price
$11.42 per share
Price for 12,096 shares disposed to pay RSU withholding taxes
Direct holdings after transaction
1,043,987 shares
Common Stock directly held by Kenneth N. Berns following transaction
Indirect trust holdings
34,000 shares
Common Stock held by trust(s) where Berns is trustee
Key Terms
Restricted Stock Units, withholding taxes, tax-withholding disposition, trustee
4 terms
Restricted Stock Units financial
"Restricted Stock Units converted into Common Stock on May 9, 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.
trustee financial
"Held by trust(s) for which the reporting person is the trustee."
A trustee is a person or institution legally appointed to hold and manage assets or enforce an agreement on behalf of other people (beneficiaries). Think of a trustee as a neutral referee or custodian who must act in the beneficiaries’ best interests, follow the trust or contract rules, and handle distributions, recordkeeping and enforcement. Investors care because a trustworthy trustee protects their rights, ensures promised payments or remedies are delivered, and can influence recoveries if things go wrong.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did PTEN executive Kenneth N. Berns report in this Form 4?
Kenneth N. Berns reported that 12,096 Patterson-UTI common shares were disposed of to cover withholding taxes on Restricted Stock Units that converted into stock. This is a compensation-related tax event, not an open-market purchase or sale of shares.
Was this PTEN insider transaction an open-market sale or purchase?
The reported transaction was not an open-market trade. It was coded “F,” meaning shares were disposed of to satisfy withholding taxes on Restricted Stock Units that converted into common stock, a routine administrative step tied to equity compensation vesting.