Cactus SEC Filings

Cactus, Inc. (WHD) insider reports changes in indirect holdings

A director, 10% owner and president of Cactus, Inc. filed a Form 4 reporting transactions dated 11/17/2025 involving Class B Common Stock and related derivative interests held through Cactus WH Enterprises, LLC. Table I shows a transaction coded "J" for 48,902 shares of Class B Common Stock, leaving 9,686,249 shares beneficially owned indirectly after the transaction. Table II reports a corresponding "J" transaction for 48,902 derivative securities tied to 48,902 shares of Class A Common Stock, with 9,686,249 derivative securities beneficially owned indirectly afterward.

The footnotes explain that Cactus WH Enterprises distributed Class B Common Stock and Units to certain of its members in connection with redemptions, but the reporting person did not participate and received no shares or Units. The securities are directly owned by Cactus WH Enterprises, and the reporting person is treated as having an indirect pecuniary interest through his ownership interest in that entity, while disclaiming beneficial ownership beyond that indirect interest.

Cactus, Inc. (WHD) reported an insider ownership update on a Form 4 filed for its Chairman and CEO, who is also a director and 10% owner. The filing shows a transaction dated 11/17/2025 coded as "J" involving 48,902 shares of Class B Common Stock and a corresponding 48,902 Class A Common Stock underlying derivative position. After this change, the reporting person is shown with 9,686,249 shares beneficially owned indirectly. Footnotes explain that certain members of Cactus WH Enterprises, LLC and Cactus Companies, LLC redeemed ownership interests and received Class B shares and Units, but the reporting person did not participate in these redemptions and did not receive any shares or Units, with his interest reflected as an indirect pecuniary interest through these entities.

Cactus, Inc. furnished an investor presentation under Regulation FD. The company attached the materials as Exhibit 99.1 and made them available on the Investors section of its website. The information in this item, including the exhibit, is being furnished rather than filed under the Exchange Act, which limits potential liability and incorporation by reference. The filing also includes the Cover Page Interactive Data File as Exhibit 104.

Cactus, Inc. (WHD) filed its Q3 2025 10‑Q, reporting lower activity and solid liquidity. Revenue was $263.954 million versus $293.181 million a year ago, with diluted EPS of $0.60 versus $0.74. Operating income was $61.234 million and net income was $50.188 million.

Segment performance mixed. Pressure Control revenue fell to $168.714 million and operating income was $44.523 million as customers reduced drilling and completion activity; cost controls supported margins. Spoolable Technologies revenue was $95.240 million with operating income of $25.806 million; volume softness and higher input costs pressured margins.

Balance sheet remains strong. Cash and cash equivalents were $445.614 million with no bank debt outstanding; available ABL capacity was $223.2 million. Year‑to‑date operating cash flow was $186.148 million. The company declared $0.40 per share of dividends year‑to‑date and has $146.3 million remaining under its share repurchase authorization. Cactus agreed to acquire 65% of Baker Hughes’ surface pressure control business for $344.5 million in cash, expected to close early 2026, and plans to fund with cash on hand and its undrawn facility.

BlackRock, Inc. filed Amendment No. 7 to Schedule 13G reporting beneficial ownership of 9,752,293 shares of Cactus, Inc. (WHD) common stock, representing 14.2% of the class as of 09/30/2025.

The filing lists sole voting power: 9,621,307 shares and sole dispositive power: 9,752,293 shares, with no shared voting or dispositive power. BlackRock certifies the holdings are in the ordinary course and not for the purpose of influencing control. Item 6 notes that iShares Core S&P Small‑Cap ETF has an interest in Cactus common stock of more than five percent.

William D. Marsh, GC, EVP and Secretary of Cactus, Inc. (WHD), reported an insider sale on 09/09/2025. He disposed of 10,172 shares of Class A common stock at $41.32 per share, leaving him with 11,088 shares beneficially owned after the transaction.

Cactus WH Enterprises, LLC reported a non-market ownership change for Cactus, Inc. (WHD) dated 09/09/2025. The reporting entity executed transactions that resulted in the disposition of 69,555 shares of Class B Common Stock and related Units, and a corresponding record showing 69,555 shares of Class A Common Stock underlying derivative-like rights. After the reported transactions, the reporting entity beneficially owned 9,735,151 shares (reported as indirect ownership). The filing explains these movements arose from distributions to certain members in connection with redemptions of ownership interests under the reporting entity's amended operating agreement, including distributions of Class B Common Stock and Units and references to redemption rights to receive Class A Common Stock or cash.

Joel Bender, a director, president and reported 10% owner of Cactus, Inc. (WHD), filed a Form 4 disclosing changes in beneficial ownership dated 09/09/2025. The filing shows a disposition of 69,555 shares of Class B common stock (transaction code J(1)), after which 9,735,151 shares remain beneficially owned indirectly by Cactus WH Enterprises, LLC. Parallel reporting in the derivative table shows 69,555 Class A common shares underlying the reported derivative position, with the same 9,735,151 shares noted as indirectly owned. The filing states these shares were distributed by Cactus Enterprises to certain members in redemptions and that the reporting person did not participate in those redemptions. The report is signed by Joel Bender via attorney-in-fact William Marsh on 09/09/2025.