Ranger Energy Insider Retains 1.2M-Share Stake After Minor Sale

Rhea-AI Filing Summary

Ranger Energy Services (RNGR) insider activity: Director Brett T. Agee filed Form 4 covering transactions on 07/24-25/2025.

• Equity grant: 10,712 Restricted Stock Units (RSUs) awarded on 07/24/2025; each unit converts 1:1 into Class A common stock and vests 07/24/2026.
• RSU conversion: On 07/25/2025 Agee converted 8,945 RSUs into shares (code “M”).
• Disposition: Immediately sold 2,683 shares at $12.35, retaining 6,262 shares from the conversion.
• Post-transaction ownership: 6,262 shares held directly; indirect holdings remain 1,106,699 shares through Bayou Well Holdings Company, LLC and 93,874 shares via a personal trust.

The filing results in a net direct increase of 6,262 shares; overall beneficial ownership stays above 1.2 million shares, maintaining significant insider alignment. The sale represents roughly 0.2 % of total beneficial holdings and appears routine, likely for tax/liquidity purposes. No operational or earnings information accompanies the filing, so market impact is expected to be minimal.

Positive

• Director received 10,712 new RSUs, extending equity-based incentives through July 2026.
• Total beneficial ownership remains >1.2 million shares, indicating strong insider alignment with shareholders.

Negative

• 2,683 shares sold at $12.35; although small, any insider sale can raise perception questions.

Insights

Securities Analyst

TL;DR: Minor insider sale offset by RSU grant; alignment unchanged—market impact neutral.

Agee’s Form 4 shows standard compensation activity: a 10,712-share RSU grant and a same-day conversion/sale of 2,683 shares. With over 1.2 million shares still owned, insider ownership remains substantial, supporting governance alignment. The 2,683-share sale at $12.35 generates only ~$33k, immaterial to ownership levels or trading volume. No negative signaling is evident; thus I rate the impact neutral.

Corporate Governance Expert

TL;DR: Routine form 4; continued large indirect stake supports shareholder alignment.

The grant of time-based RSUs extends the director’s incentive horizon to July 2026, promoting long-term focus. Agee’s indirect control of 1.1 million shares through Bayou Well Holdings remains the dominant exposure, dwarfing the small taxable sale. No red flags on accelerated vesting, option repricing, or unusual trading windows. Governance perspective: filing is standard, impact on oversight or investor perception negligible.

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

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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

1. Name and Address of Reporting Person^*

Agee Brett T.

(Last) (First) (Middle)

10350 RICHMOND AVENUE, SUITE 550

(Street)

HOUSTON TX 77042

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Ranger Energy Services, Inc. [ RNGR ]

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)
07/24/2025

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
Class A Common Stock	07/25/2025		M		8,945	A	$12.35	8,945	D
Class A Common Stock	07/25/2025		D		2,683	D	$12.35	6,262	D
Class A Common Stock								1,106,699	I	Bayou Well Holdings Company, LLC(1)
Class A Common Stock								93,874	I	Trust(2)

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
Restricted Stock Unit	(3)	07/24/2025		A		10,712		07/24/2026	07/24/2026	Class A Common Stock	10,712	(3)	10,712	D
Restricted Stock Unit	(3)	07/25/2025		M			8,945	07/25/2025	07/25/2025	Class A Common Stock	8,945	(3)	0	D

Explanation of Responses:

1. The reporting person is a managing member of Bayou Well Holdings Company, LLC. He disclaims beneficial ownership except to the extent of his pecuniary interest therein.

2. The reporting person is the beneficiary and trustee of the Trust. He disclaims beneficial ownership except to the extent of his pecuniary interest therein.

3. Each restricted stock unit represents a right to receive without payment one share of Class A Common Stock of the Issuer.

Remarks:

	/s/ Brett T. Agee, by Pam Tudor, as Attorney-in-Fact	07/28/2025
	** 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

How many Ranger Energy Services (RNGR) shares does Brett T. Agee now own?

After the reported transactions, he holds 6,262 shares directly and ~1.2 million shares indirectly via entities he controls.

What price were the RNGR shares sold for in this filing?

The 2,683 shares were sold at $12.35 per share on 07/25/2025.

What new equity award did the director receive?

He was granted 10,712 Restricted Stock Units that vest on 07/24/2026.

Is the insider transaction material to Ranger Energy Services?

Given the small size relative to Agee’s >1.2 million-share stake, the filing is considered not materially impactful.

Why did the director sell some shares immediately after conversion?

The filing does not specify, but such small sales often cover tax or liquidity needs following RSU vesting.