Cactus: Bender Investment sells 100,000 shares

The unit-redemption transactions also involved the cancellation of 100,000 Class B shares and the acquisition of 100,000 Class A shares.

Rhea-AI Filing Summary

Cactus, Inc. President Joel Bender reported a 100,000-share sale of Class A Common Stock by Bender Investment Company (BIC) on October 1, 2026, at $61.973 per share under a Rule 10b5-1 trading plan. Bender has an ownership interest in BIC and disclaims beneficial ownership of the shares sold except to the extent of his pecuniary interest.

Also on October 1, BIC redeemed part of its ownership interests in Cactus Enterprises, which distributed 100,000 Units and corresponding Class B shares to BIC. The reported redemption exchanged 100,000 Units and 100,000 Class B shares for 100,000 Class A shares; the issuer canceled 100,000 Class B shares, and BIC acquired 100,000 Class A shares. Afterward, Bender was deemed to beneficially own 9,061,249 Class B shares and 9,061,249 Units owned by Cactus Enterprises.

Insider Trade Summary 10b5-1

Net Seller: 100,000 shares

Net Sell 8 txns

Insider Bender Joel

Role President

Sold 100,000 shs ($6.20M)

Type	Security	Shares	Price	Value
Other	Units F7, F8, F1, F2, F3	100,000	--	--
Grant/Award	Units F7, F8, F9, F1, F2, F3	100,000	--	--
Other	Units F7, F8, F9, F4, F10, F2, F3	100,000	--	--
Other	Class B Common Stock F1, F2, F3	100,000	--	--
Grant/Award	Class B Common Stock F1, F2, F3	100,000	--	--
Disposition	Class B Common Stock F4, F2, F3	100,000	--	--
Other	Class A Common Stock F5	100,000	--	--
Sale	Class A Common Stock F6	100,000	$61.973	$6.20M

Holdings After Transaction: Units — 9,061,249 contracts (Indirect, See Footnote); Class B Common Stock — 9,061,249 shares (Indirect, See Footnote); Class A Common Stock — 41,519 shares (Direct)

Footnotes (10)

1. F1. In connection with certain redemptions of ownership interests in Cactus WH Enterprises, LLC ("Cactus Enterprises") by certain of Cactus Enterprises' members pursuant to the amended and restated limited liability company agreement of Cactus Enterprises, Cactus Enterprises distributed Class B Common Stock to such members. Bender Investment Company ("BIC"), a Nevada corporation controlled by the Reporting Person, redeemed a portion of its ownership interests in Cactus Enterprises. In connection with the redemption by BIC of its interests in Cactus Enterprises, Cactus Enterprises distributed to BIC, 100,000 Units (as defined below) and a corresponding number of shares of Class B Common Stock of the Issuer.
2. F2. Following the transactions reported herein, the Reporting Person is deemed to beneficially own 9,061,249 shares of Class B Common Stock and 9,061,249 Units owned by Cactus Enterprises.
3. F3. The securities reported herein are directly owned by Cactus Enterprises. By reason of the provisions of Rule 16a-1 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), the Reporting Person may be deemed to have an indirect pecuniary interest in the securities held directly by Cactus Enterprises through his ownership interest in Cactus Enterprises. In accordance with Instruction 4(b)(iv), the entire amount of the securities held by Cactus Enterprises is reported herein. The Reporting Person disclaims beneficial ownership of any securities that he does not directly own, except to the extent of his indirect pecuniary interest therein. This report shall not be deemed an admission that the Reporting Person is a member of a group or the beneficial owner of any securities not directly owned by the Reporting Person.
4. F4. In connection with its redemption of Units, as described below, BIC disposed of a corresponding number of shares of Class B Common Stock, which shares were cancelled by the Issuer.
5. F5. In connection with its redemption of Units, as described below, BIC acquired 100,000 shares of Class A Common Stock.
6. F6. The shares reported herein as sold represent the aggregate number of shares sold by Bender Investment Company pursuant to a Rule 10b5-1 trading plan. The reporting person has an ownership interest in Bender Investment Company and disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
7. F7. "Units" mean ownership interests in Cactus Companies, LLC ("Cactus Companies"). The Issuer is the sole managing member of Cactus Companies.
8. F8. 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.
9. F9. (Continued from footnote 7) Upon the exercise of the Redemption Right, the Issuer (instead of Cactus Companies) has the right (the "Call Right") to acquire each tendered Unit directly from the exchanging Unit holder for, at its 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. The Issuer did not exercise the Call Right in connection with the redemptions described in this Report.
10. F10. The Units and a corresponding number of shares of Class B Common Stock were redeemed for Class A Common Stock on October 1, 2026.

Key Figures

Class A shares sold: 100,000 shares Sale price: $61.973 per share Units distributed: 100,000 Units +5 more

8 metrics

Class A shares sold 100,000 shares Bender Investment Company sale on October 1, 2026

Sale price $61.973 per share Bender Investment Company sale on October 1, 2026

Units distributed 100,000 Units Distributed to Bender Investment Company in connection with its redemption of interests in Cactus Enterprises

Units redeemed 100,000 Units Redeemed for Class A Common Stock on October 1, 2026

Class B shares canceled 100,000 shares Canceled by the issuer in connection with the redemption

Class A shares acquired 100,000 shares Acquired by Bender Investment Company in connection with the Unit redemption

Class B shares deemed beneficially owned 9,061,249 shares Following the transactions; owned by Cactus Enterprises

Units deemed beneficially owned 9,061,249 Units Following the transactions; owned by Cactus Enterprises

Key Terms

Rule 10b5-1 trading plan, Units, Redemption Right, Call Right, +1 more

5 terms

Rule 10b5-1 trading plan regulatory

"pursuant to a Rule 10b5-1 trading plan"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

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 Right financial

"Upon the exercise of the Redemption Right"

Call Right financial

"the right (the "Call Right") to acquire each tendered Unit"

A call right is a contractual ability, usually held by the issuer or seller, to buy back or retire a financial instrument (such as a bond or preferred share) before its scheduled end date. It matters to investors because an issuer’s decision to exercise that right can shorten expected income and force reinvestment—like a lender refinancing a mortgage—changing the security’s value and the investor’s future returns.

redemption ratio financial

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

FAQ

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

How many WHD shares did Joel Bender's investment company sell, and at what price?

Bender Investment Company sold 100,000 shares of Cactus, Inc. Class A Common Stock on October 1, 2026, at $61.973 per share, pursuant to a Rule 10b5-1 trading plan. Joel Bender has an ownership interest in the company and disclaimed beneficial ownership of the shares except to the extent of his pecuniary interest.

What were the WHD Unit redemption terms?

Under the operating agreement, holders may cause Cactus Companies to acquire all or at least a minimum portion of their Units for, at Cactus Companies' election, one Class A share per Unit or equivalent cash. Cactus, Inc. had a Call Right to acquire tendered Units but did not exercise it in these redemptions.

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

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Available on EDGAR 10/02/2026 - 05:50 PM Accepted by SEC EDGAR 10/02/2026 - 05:49 PM Learn about SEC filing dates

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).

X

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 Joel

(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)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	President

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2026

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)
			Code	V	Amount	(A) or (D)	Price
Class B Common Stock	10/01/2026		J(1)		100,000	D	(1)	9,061,249	I	See Footnote(2)(3)
Class B Common Stock	10/01/2026		A		100,000	A	(1)	9,161,249	I	See Footnote(2)(3)
Class B Common Stock	10/01/2026		D		100,000	D	(4)	9,061,249	I	See Footnote(2)(3)
Class A Common Stock	10/01/2026		J(5)		100,000	A	(5)	141,519	D
Class A Common Stock	10/01/2026		S		100,000(6)	D	$61.973	41,519	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Units(7)	(8)	10/01/2026		J(1)			100,000	(8)	(1)	Class A Common Stock	100,000	(1)	9,061,249	I	See Footnote(1)(2)(3)
Units(7)	(8)(9)	10/01/2026		A(1)		100,000		(8)(9)	(8)(9)	Class A Common Stock	100,000	(9)	9,161,249	I	See Footnote(2)(3)
Units(7)	(8)(9)	10/01/2026		J(4)			100,000	(8)(9)	(8)(9)	Class A Common Stock	100,000	(10)	9,061,249	I	See Footnote(2)(3)

Explanation of Responses:

1. In connection with certain redemptions of ownership interests in Cactus WH Enterprises, LLC ("Cactus Enterprises") by certain of Cactus Enterprises' members pursuant to the amended and restated limited liability company agreement of Cactus Enterprises, Cactus Enterprises distributed Class B Common Stock to such members. Bender Investment Company ("BIC"), a Nevada corporation controlled by the Reporting Person, redeemed a portion of its ownership interests in Cactus Enterprises. In connection with the redemption by BIC of its interests in Cactus Enterprises, Cactus Enterprises distributed to BIC, 100,000 Units (as defined below) and a corresponding number of shares of Class B Common Stock of the Issuer.

2. Following the transactions reported herein, the Reporting Person is deemed to beneficially own 9,061,249 shares of Class B Common Stock and 9,061,249 Units owned by Cactus Enterprises.

3. The securities reported herein are directly owned by Cactus Enterprises. By reason of the provisions of Rule 16a-1 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), the Reporting Person may be deemed to have an indirect pecuniary interest in the securities held directly by Cactus Enterprises through his ownership interest in Cactus Enterprises. In accordance with Instruction 4(b)(iv), the entire amount of the securities held by Cactus Enterprises is reported herein. The Reporting Person disclaims beneficial ownership of any securities that he does not directly own, except to the extent of his indirect pecuniary interest therein. This report shall not be deemed an admission that the Reporting Person is a member of a group or the beneficial owner of any securities not directly owned by the Reporting Person.

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

5. In connection with its redemption of Units, as described below, BIC acquired 100,000 shares of Class A Common Stock.

6. The shares reported herein as sold represent the aggregate number of shares sold by Bender Investment Company pursuant to a Rule 10b5-1 trading plan. The reporting person has an ownership interest in Bender Investment Company and disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

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

8. 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.

9. (Continued from footnote 7) Upon the exercise of the Redemption Right, the Issuer (instead of Cactus Companies) has the right (the "Call Right") to acquire each tendered Unit directly from the exchanging Unit holder for, at its 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. The Issuer did not exercise the Call Right in connection with the redemptions described in this Report.

10. The Units and a corresponding number of shares of Class B Common Stock were redeemed for Class A Common Stock on October 1, 2026.

Remarks:

	/s/ Joel Bender, by William Marsh as Attorney-in-Fact	10/02/2026
	** 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)