[Form 4] Cactus, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Cactus, Inc. reported an insider ownership change on Form 4 involving its dual-class and LLC unit structure. The reporting person disposed of 48,902 shares of Class B common stock, leaving 9,686,249 shares beneficially owned directly after the transaction. A related derivative position for 48,902 Units in Cactus Companies, LLC was reported, each Unit being exchangeable at the holder’s election into either one share of Class A common stock or an equivalent amount of cash under Cactus Companies’ amended LLC agreement. The filing explains that these changes are tied to redemptions of ownership interests and related distributions of Class B common stock and Units to members of the reporting entity.

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

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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^*

Cactus WH Enterprises, LLC

(Last) (First) (Middle)

920 MEMORIAL CITY WAY, SUITE 300

(Street)

HOUSTON TX 77024

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
11/17/2025

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 B Common Stock	11/17/2025		J(1)		48,902	D	(1)	9,686,249	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(2)	(3)	11/17/2025		J(4)			48,902	(3)	(4)	Class A Common Stock	48,902	(4)	9,686,249	D

Explanation of Responses:

1. In connection with certain redemptions of ownership interests in the Reporting Entity by certain of the Reporting Entity's members pursuant to the amended and restated limited liability company operating agreement of the Reporting Entity, the Reporting Entity distributed Class B Common Stock to such members.

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

3. 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.

4. In connection with certain redemptions of ownership interests in the Reporting Entity by certain of the Reporting Entity's members pursuant to the amended and restated limited liability company agreement of the Reporting Entity, the Reporting Entity distributed Units to such members.

Remarks:

	/s/ Scott Bender, President	11/17/2025
	** 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.
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FAQ

What insider transaction did Cactus, Inc. (WHD) report on this Form 4?

The filing reports that a Cactus, Inc. insider disposed of 48,902 shares of Class B common stock, with 9,686,249 shares beneficially owned directly after the transaction.

What are the Units referenced in the Cactus, Inc. (WHD) Form 4?

The Form 4 states that “Units” are ownership interests in Cactus Companies, LLC, for which Cactus, Inc. is the sole managing member.

How can Cactus Companies, LLC Units convert into Cactus (WHD) Class A common stock?

According to the amended LLC agreement, holders of Units can require Cactus Companies to acquire their Units for either shares of Class A common stock at a 1:1 redemption ratio per Unit, subject to adjustment, or an equivalent amount of cash.

What derivative securities did the Cactus, Inc. insider report?

The insider reported derivative securities tied to 48,902 Units, with an underlying amount of 48,902 shares of Class A common stock, and 9,686,249 derivative securities beneficially owned following the transaction.

Why did Cactus, Inc. report distributions of Class B stock and Units?

The explanation notes that, in connection with certain redemptions of ownership interests in the reporting entity, Class B common stock and Units were distributed to certain members under the amended and restated LLC agreements.

Who signed the Cactus, Inc. (WHD) Form 4 filing?

The Form 4 was signed by /s/ Scott Bender, President on 11/17/2025.