How were Units and Class A shares related in the Cactus, Inc. (WHD) Form 4 filing?

Each Unit in Cactus Companies, LLC could be redeemed for one Class A Common share or cash. On August 6, 2026, 25,000 Units were redeemed for 25,000 Class A shares for Steven Bender.

Cactus executive sells 25,000 Class A shares

Q: How many Cactus, Inc. (WHD) shares did Steven Bender sell and at what price?

Steven Bender sold 25,000 shares of Cactus Class A Common Stock at $67.6489 per share on August 7, 2026, in an open-market or private transaction.

Q: What was the purpose of the Class B Common Stock transactions at Cactus, Inc. (WHD)?

Bender received 25,000 Class B shares when redeeming interests in Cactus WH Enterprises, LLC, then disposed of the same 25,000 shares, which the issuer cancelled in connection with the Unit redemption.

Q: Were Steven Bender’s Cactus, Inc. (WHD) transactions under a Rule 10b5-1 plan?

The filing’s Rule 10b5-1 checkbox is not marked, and no footnote describes a trading plan, indicating these transactions were not reported as made under a Rule 10b5-1 plan.

Cactus, Inc. (WHD) executive Steven Bender, COO, EVP and CEO-SpoolableTech, reported several related equity transactions.

Filing Impact

(Very High)

Filing Sentiment

(Negative)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Form Type

Rhea-AI Filing Summary

Cactus, Inc. (WHD) executive Steven Bender, COO, EVP and CEO-SpoolableTech, reported several related equity transactions. On August 6, 2026, he redeemed ownership interests in Cactus WH Enterprises, LLC, receiving 25,000 Class B Common Stock and 25,000 Units tied to Class A shares, then disposed of the same 25,000 Class B shares, which were cancelled, and acquired 25,000 Class A Common Stock through the Unit redemption on a one-for-one basis. On August 7, 2026, he sold 25,000 Class A Common Stock in an open-market or private transaction at $67.6489 per share. The Units were redeemed for Class A Common Stock on August 6, 2026, and the filing does not indicate use of a Rule 10b5-1 trading plan.

Insights

Analyzing...

Insider Trade Summary

Net Seller: 25,000 shares

Net Sell 6 txns

Insider Bender Steven

Role COO, EVP and CEO-SpoolableTech

Sold 25,000 shs ($1.69M)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	25,000	$67.6489	$1.69M
Grant/Award	Units ^{F4, F5}	0	--	--
Other	Units ^{F4, F5, F6}	0	--	--
Grant/Award	Class B Common Stock ^F1	25,000	--	--
Disposition	Class B Common Stock ^F2	25,000	--	--
Other	Class A Common Stock ^F3	25,000	--	--

Holdings After Transaction: Units — 0 contracts (Direct); Class B Common Stock — 0 shares (Direct); Class A Common Stock — 99,241 shares (Direct)

Footnotes (6)

F1. The Reporting Person redeemed a portion of his ownership interests in Cactus WH Enterprises, LLC ("Cactus Enterprises") pursuant to the first amended and restated limited liability company agreement of Cactus Enterprises, in return for which Cactus Enterprises distributed to the Reporting Person, a corresponding number of shares of Class B Common Stock and a corresponding number of Units (as defined below).
F2. In connection with the redemption of Units, as described below, the Reporting Person disposed of a corresponding number of shares of Class B Common Stock, which shares were cancelled by the Issuer.
F3. In connection with the redemption of Units, as described below, the Reporting Person acquired a corresponding number of shares of Class A Common Stock.
F4. "Units" mean ownership interests in Cactus Companies, LLC ("Cactus Companies"). The Issuer is the sole managing member of Cactus Companies.
F5. The amended and restated limited liability company operating agreement of Cactus Companies provides the holders of Units with certain rights to cause Cactus Companies to acquire all or at least a minimum portion of their Units for, at Cactus Companies election, (x) shares of Class A Common Stock at a redemption ratio of one share of Class A Common Stock for each Unit redeemed, subject to conversion rate adjustments for stock splits, stock dividends and reclassification and other similar transactions, or (y) an equivalent amount of cash.
F6. The Units were redeemed for Class A Common Stock on August 6, 2026.

Key Figures

Shares sold: 25,000 shares Sale price: $67.6489 per share Units redeemed: 25,000 Units +1 more

4 metrics

Shares sold 25,000 shares Class A Common Stock sale by Steven Bender on August 7, 2026

Sale price $67.6489 per share Price for 25,000 Class A shares sold on August 7, 2026

Units redeemed 25,000 Units Units redeemed for 25,000 Class A shares on August 6, 2026

Class B shares cancelled 25,000 shares Class B Common Stock disposed and cancelled in connection with Unit redemption

Key Terms

Units, redemption ratio, limited liability company agreement, disposition to issuer

4 terms

Units financial

""Units" mean ownership interests in Cactus Companies, LLC"

Units are bundled securities sold as one package in a financing—commonly a share paired with an instrument that gives the holder the right to buy more shares later. For investors this matters because a unit’s extra component can change future supply of shares and potential returns, similar to buying a combo with a coupon that can be redeemed later and alter what you actually receive and what others might own.

redemption ratio financial

"Class A Common Stock at a redemption ratio of one share for each Unit"

limited liability company agreement regulatory

"pursuant to the first amended and restated limited liability company agreement"

A limited liability company agreement is the legal contract that lays out who owns a limited liability company, how it is run, how profits and losses are shared, and the rules for major decisions, transfers and exits. For investors it functions like an operating manual or roadmap: it determines control rights, payout priority, dispute resolution and protections against personal liability, so it directly affects risk, governance and how and when investors can realize returns.

disposition to issuer financial

"the Reporting Person disposed of a corresponding number of shares of Class B Common Stock"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did Cactus, Inc. (WHD) report for Steven Bender?

Steven Bender reported related equity restructuring and a sale. He redeemed interests into 25,000 Class A shares on August 6, 2026, then sold those 25,000 shares on August 7, 2026.

How many Cactus, Inc. (WHD) shares did Steven Bender sell and at what price?

Steven Bender sold 25,000 shares of Cactus Class A Common Stock at $67.6489 per share on August 7, 2026, in an open-market or private transaction.

What was the purpose of the Class B Common Stock transactions at Cactus, Inc. (WHD)?

Bender received 25,000 Class B shares when redeeming interests in Cactus WH Enterprises, LLC, then disposed of the same 25,000 shares, which the issuer cancelled in connection with the Unit redemption.

Were Steven Bender’s Cactus, Inc. (WHD) transactions under a Rule 10b5-1 plan?

The filing’s Rule 10b5-1 checkbox is not marked, and no footnote describes a trading plan, indicating these transactions were not reported as made under a Rule 10b5-1 plan.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Available on EDGAR 08/10/2026 - 05:21 PM Accepted by SEC EDGAR 08/10/2026 - 05:21 PM

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).

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^*

Bender Steven

(Last)

(First)

(Middle)

920 MEMORIAL CITY WAY

SUITE 300

(Street)

HOUSTON

TEXAS

77024

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Cactus, Inc. [ WHD ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	COO, EVP and CEO-SpoolableTech

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/06/2026

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

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

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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class B Common Stock	08/06/2026		A		25,000	A	⁽¹⁾	25,000	D
Class B Common Stock	08/06/2026		D		25,000	D	⁽²⁾	0	D
Class A Common Stock	08/06/2026		J⁽³⁾		25,000	A	⁽³⁾	124,241	D
Class A Common Stock	08/07/2026		S		25,000	D	$67.6489	99,241	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Units⁽⁴⁾	⁽⁵⁾	08/06/2026		A		0		⁽⁵⁾	⁽⁵⁾	Class A Common Stock	25,000	⁽⁵⁾	0	D
Units⁽⁴⁾	⁽⁵⁾	08/06/2026		J			0	⁽⁵⁾	⁽⁵⁾	Class A Common Stock	25,000	⁽⁶⁾	0	D

Explanation of Responses:

1. The Reporting Person redeemed a portion of his ownership interests in Cactus WH Enterprises, LLC ("Cactus Enterprises") pursuant to the first amended and restated limited liability company agreement of Cactus Enterprises, in return for which Cactus Enterprises distributed to the Reporting Person, a corresponding number of shares of Class B Common Stock and a corresponding number of Units (as defined below).

2. In connection with the redemption of Units, as described below, the Reporting Person disposed of a corresponding number of shares of Class B Common Stock, which shares were cancelled by the Issuer.

3. In connection with the redemption of Units, as described below, the Reporting Person acquired a corresponding number of shares of Class A Common Stock.

4. "Units" mean ownership interests in Cactus Companies, LLC ("Cactus Companies"). The Issuer is the sole managing member of Cactus Companies.

5. The amended and restated limited liability company operating agreement of Cactus Companies provides the holders of Units with certain rights to cause Cactus Companies to acquire all or at least a minimum portion of their Units for, at Cactus Companies election, (x) shares of Class A Common Stock at a redemption ratio of one share of Class A Common Stock for each Unit redeemed, subject to conversion rate adjustments for stock splits, stock dividends and reclassification and other similar transactions, or (y) an equivalent amount of cash.

6. The Units were redeemed for Class A Common Stock on August 6, 2026.

Remarks:

	/s/ Steven Bender, by William Marsh as Attorney-in-Fact	08/10/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR