[Form 4] Cactus, Inc. Insider Trading Activity
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.
Joel Bender, direttore, presidente e segnalato titolare del 10% di Cactus, Inc. (WHD), ha presentato un Modulo 4 che comunica variazioni nella titolarità effettiva datato 09/09/2025. La dichiarazione indica la cessione di 69.555 azioni di azioni ordinarie di Classe B (codice transazione J(1)), dopo la quale rimangono detenute indirettamente da Cactus WH Enterprises, LLC 9.735.151 azioni. Nel prospetto sulle posizioni derivate si riportano parallelamente 69.555 azioni di Classe A sottostanti alla posizione derivata segnalata, con le stesse 9.735.151 azioni indicate come detenute indirettamente. Il documento precisa che queste azioni sono state distribuite da Cactus Enterprises ad alcuni soci in occasione di riscatti e che la persona che segnala non ha partecipato a tali riscatti. La relazione è firmata da Joel Bender tramite procuratore William Marsh in data 09/09/2025.
Joel Bender, director, presidente y presunto propietario del 10% de Cactus, Inc. (WHD), presentó un Formulario 4 que divulga cambios en la propiedad beneficiaria con fecha 09/09/2025. La presentación muestra la disposición de 69.555 acciones ordinarias Clase B (código de transacción J(1)), tras lo cual permanecen en propiedad indirecta de Cactus WH Enterprises, LLC 9.735.151 acciones. En la tabla de instrumentos derivados se informa paralelamente de 69.555 acciones Clase A subyacentes a la posición derivada reportada, con las mismas 9.735.151 acciones señaladas como propiedad indirecta. El documento indica que estas acciones fueron distribuidas por Cactus Enterprises a ciertos miembros mediante reembolsos y que la persona que informa no participó en dichos reembolsos. El informe está firmado por Joel Bender a través del apoderado William Marsh con fecha 09/09/2025.
Joel Bender는 이사이자 사장이고 Cactus, Inc. (WHD)의 보고상 10% 보유주로, 2025/09/09자 소유권 변동을 공시한 Form 4를 제출했습니다. 제출서에는 거래 코드 J(1)로 클래스 B 보통주 69,555주의 처분이 기재되어 있으며, 처분 후 Cactus WH Enterprises, LLC가 간접 보유하는 주식은 9,735,151주로 남아 있습니다. 파생상품 표에는 보고된 파생 포지션을 뒷받침하는 클래스 A 보통주 69,555주가 동일하게 기재되어 있고, 같은 9,735,151주가 간접 보유로 표기되어 있습니다. 제출서에는 이 주식들이 Cactus Enterprises에서 일부 구성원들에게 환매(또는 상환)로 분배되었으며 보고인은 그 환매에 참여하지 않았다고 명시되어 있습니다. 보고서는 Joel Bender가 대리인 William Marsh를 통해 2025/09/09에 서명했습니다.
Joel Bender, administrateur, président et déclaré détenteur de 10 % de Cactus, Inc. (WHD), a déposé un formulaire 4 révélant des changements de propriété bénéficiaire daté du 09/09/2025. Le dépôt indique la cession de 69 555 actions ordinaires de catégorie B (code transaction J(1)), après quoi 9 735 151 actions restent détenues indirectement par Cactus WH Enterprises, LLC. Dans le tableau des positions dérivées, on trouve parallèlement 69 555 actions de catégorie A sous-jacentes à la position dérivée déclarée, les mêmes 9 735 151 actions étant notées comme détenues indirectement. Le document précise que ces actions ont été réparties par Cactus Enterprises à certains membres lors de rachats et que la personne déclarant n’a pas participé à ces rachats. Le rapport est signé par Joel Bender via le mandataire William Marsh le 09/09/2025.
Joel Bender, Direktor, Präsident und nach Angaben 10%-Eigentümer von Cactus, Inc. (WHD), reichte ein Form 4 zur Offenlegung von Änderungen der wirtschaftlichen Inhaberschaft ein, datiert 09/09/2025. Die Meldung weist die Veräußerung von 69.555 Stück Stammaktien Klasse B (Transaktionscode J(1)) aus; danach verbleiben 9.735.151 Aktien in indirektem Besitz von Cactus WH Enterprises, LLC. In der Derivatstabelle wird parallel angegeben, dass 69.555 Klasse-A-Aktien der gemeldeten derivativen Position zugrunde liegen, wobei dieselben 9.735.151 Aktien als indirekt gehalten ausgewiesen sind. Die Einreichung erklärt, dass diese Aktien von Cactus Enterprises an bestimmte Mitglieder im Zuge von Rücknahmen verteilt wurden und die meldende Person nicht an diesen Rücknahmen teilgenommen hat. Der Bericht ist von Joel Bender über den Bevollmächtigten William Marsh am 09/09/2025 unterzeichnet.
- Transparency: Filing clearly discloses the nature of the distribution and states that the reporting person did not participate in the redemptions
- Detailed explanation: Provides explicit linkage between Units, Class A conversion rights, and indirect ownership through Cactus Enterprises
- Reduced Class B holdings: A disposition of 69,555 Class B shares is reported, which may change share class composition reported for insiders
- Concentration risk: Reporting person is associated with a large indirect position of 9,735,151 shares, indicating significant insider exposure concentrated via an affiliate
Insights
TL;DR: Insider reports a non-participatory distribution reducing Class B holdings while large indirect stake remains via affiliated LLC.
The Form 4 documents a technical disposition of 69,555 Class B shares that resulted from distributions tied to member redemptions by Cactus WH Enterprises, LLC, not from an active sale or purchase by the reporting person. The disclosure clarifies the reporting person retains no direct change and that an indirect pecuniary interest persists through ownership in Cactus Enterprises. This filing is largely informational about ownership allocation following internal LLC redemptions and does not indicate a voluntary insider sale or company-level capital market transaction.
TL;DR: Transaction appears administrative: distributed shares from LLC redemptions; material indirect stake remains at 9.74 million shares.
The recorded disposition of 69,555 Class B shares is tied to member redemptions and distributions by an affiliate entity. The report highlights that the issuer's managing member structure and conversion rights (Units to Class A shares) create both direct and derivative reporting lines. For investors, the key point is the continuing 9,735,151-share indirect holding attributed to Cactus Enterprises and disclosed under Rule 16a-1; the reporting person disclaims beneficial ownership beyond his indirect pecuniary interest. The filing does not present new purchases, option exercises, or cash proceeds attributable to the reporting person.
Joel Bender, direttore, presidente e segnalato titolare del 10% di Cactus, Inc. (WHD), ha presentato un Modulo 4 che comunica variazioni nella titolarità effettiva datato 09/09/2025. La dichiarazione indica la cessione di 69.555 azioni di azioni ordinarie di Classe B (codice transazione J(1)), dopo la quale rimangono detenute indirettamente da Cactus WH Enterprises, LLC 9.735.151 azioni. Nel prospetto sulle posizioni derivate si riportano parallelamente 69.555 azioni di Classe A sottostanti alla posizione derivata segnalata, con le stesse 9.735.151 azioni indicate come detenute indirettamente. Il documento precisa che queste azioni sono state distribuite da Cactus Enterprises ad alcuni soci in occasione di riscatti e che la persona che segnala non ha partecipato a tali riscatti. La relazione è firmata da Joel Bender tramite procuratore William Marsh in data 09/09/2025.
Joel Bender, director, presidente y presunto propietario del 10% de Cactus, Inc. (WHD), presentó un Formulario 4 que divulga cambios en la propiedad beneficiaria con fecha 09/09/2025. La presentación muestra la disposición de 69.555 acciones ordinarias Clase B (código de transacción J(1)), tras lo cual permanecen en propiedad indirecta de Cactus WH Enterprises, LLC 9.735.151 acciones. En la tabla de instrumentos derivados se informa paralelamente de 69.555 acciones Clase A subyacentes a la posición derivada reportada, con las mismas 9.735.151 acciones señaladas como propiedad indirecta. El documento indica que estas acciones fueron distribuidas por Cactus Enterprises a ciertos miembros mediante reembolsos y que la persona que informa no participó en dichos reembolsos. El informe está firmado por Joel Bender a través del apoderado William Marsh con fecha 09/09/2025.
Joel Bender는 이사이자 사장이고 Cactus, Inc. (WHD)의 보고상 10% 보유주로, 2025/09/09자 소유권 변동을 공시한 Form 4를 제출했습니다. 제출서에는 거래 코드 J(1)로 클래스 B 보통주 69,555주의 처분이 기재되어 있으며, 처분 후 Cactus WH Enterprises, LLC가 간접 보유하는 주식은 9,735,151주로 남아 있습니다. 파생상품 표에는 보고된 파생 포지션을 뒷받침하는 클래스 A 보통주 69,555주가 동일하게 기재되어 있고, 같은 9,735,151주가 간접 보유로 표기되어 있습니다. 제출서에는 이 주식들이 Cactus Enterprises에서 일부 구성원들에게 환매(또는 상환)로 분배되었으며 보고인은 그 환매에 참여하지 않았다고 명시되어 있습니다. 보고서는 Joel Bender가 대리인 William Marsh를 통해 2025/09/09에 서명했습니다.
Joel Bender, administrateur, président et déclaré détenteur de 10 % de Cactus, Inc. (WHD), a déposé un formulaire 4 révélant des changements de propriété bénéficiaire daté du 09/09/2025. Le dépôt indique la cession de 69 555 actions ordinaires de catégorie B (code transaction J(1)), après quoi 9 735 151 actions restent détenues indirectement par Cactus WH Enterprises, LLC. Dans le tableau des positions dérivées, on trouve parallèlement 69 555 actions de catégorie A sous-jacentes à la position dérivée déclarée, les mêmes 9 735 151 actions étant notées comme détenues indirectement. Le document précise que ces actions ont été réparties par Cactus Enterprises à certains membres lors de rachats et que la personne déclarant n’a pas participé à ces rachats. Le rapport est signé par Joel Bender via le mandataire William Marsh le 09/09/2025.
Joel Bender, Direktor, Präsident und nach Angaben 10%-Eigentümer von Cactus, Inc. (WHD), reichte ein Form 4 zur Offenlegung von Änderungen der wirtschaftlichen Inhaberschaft ein, datiert 09/09/2025. Die Meldung weist die Veräußerung von 69.555 Stück Stammaktien Klasse B (Transaktionscode J(1)) aus; danach verbleiben 9.735.151 Aktien in indirektem Besitz von Cactus WH Enterprises, LLC. In der Derivatstabelle wird parallel angegeben, dass 69.555 Klasse-A-Aktien der gemeldeten derivativen Position zugrunde liegen, wobei dieselben 9.735.151 Aktien als indirekt gehalten ausgewiesen sind. Die Einreichung erklärt, dass diese Aktien von Cactus Enterprises an bestimmte Mitglieder im Zuge von Rücknahmen verteilt wurden und die meldende Person nicht an diesen Rücknahmen teilgenommen hat. Der Bericht ist von Joel Bender über den Bevollmächtigten William Marsh am 09/09/2025 unterzeichnet.
FAQ
What transaction did Joel Bender report on Form 4 for WHD?
Does the Form 4 show Joel Bender sold shares himself?
How many shares does the filing show remain beneficially owned?
Are there derivative positions disclosed in the Form 4?
Who signed the Form 4 and when?
