Cactus, Inc. filings document an oilfield equipment and services business focused on pressure control and spoolable technologies. Material-event reports and proxy statements cover operating results, segment information for Pressure Control and Spoolable Technologies, capital structure, Class A common stock dividends and related CC Unit distributions.
The company's SEC record also includes proxy materials for board elections, executive compensation, equity awards and shareholder voting matters. Form 8-K filings report governance changes, investor presentation materials, material agreements and completed acquisition activity, including historical and pro forma financial statements for the surface pressure control business acquired through a Cactus subsidiary.
Cactus WH Enterprises, LLC, a major owner of Cactus, Inc., reported an internal reallocation of its holdings rather than a market trade. On the reported date, it moved 200,000 Units of Cactus Companies, LLC and 200,000 shares of Class B Common Stock to certain members in connection with redemptions of their ownership interests under its amended and restated LLC agreement. Both transactions were coded as “other acquisition or disposition” at a price of $0.00 per unit or share, and Cactus WH Enterprises, LLC reported 9,486,249 Units and 9,486,249 Class B shares owned directly after the changes.
Cactus, Inc. insider Joel Bender reported a restructuring of ownership interests tied to Cactus Enterprises and Bender Investment Company. On March 2, 2026, Bender Investment Company redeemed 200,000 Units in Cactus Companies, LLC and a corresponding 200,000 shares of Class B Common Stock, receiving 200,000 shares of Class A Common Stock.
Following these transactions, he is deemed to beneficially own 9,486,249 shares of Class B Common Stock and 9,486,249 Units held by Cactus Enterprises, while directly holding 227,793 shares of Class A Common Stock. The filing notes these securities are directly owned by Cactus Enterprises, with Bender’s interest treated as indirect under SEC rules and subject to his ownership disclaimers.
Cactus, Inc. executive Stephen Tadlock reported equity compensation activity involving the company’s Class A common stock. He acquired 27,496 shares on February 26, 2026 as a grant earned from performance share units covering a three-year period ending December 31, 2025. On the same date, 10,820 shares were disposed of at $51.56 per share, representing shares withheld by the company to cover tax obligations tied to vesting restricted stock units. Following these transactions, Tadlock directly owned 71,774 Class A shares.
Cactus, Inc. Chairman and CEO Scott Bender reported equity compensation-related share movements. He acquired 45,826 shares of Class A common stock at no cost as shares earned from performance share units granted in 2023 for the three-year period ending December 31, 2025, as approved by the Compensation Committee. In a separate transaction on the same date, 18,033 shares of Class A common stock at $51.56 per share were disposed of to cover tax withholding obligations upon the vesting of previously granted restricted stock units. Following these transactions, he directly owned 106,801 shares of Class A common stock.
Cactus, Inc. General Counsel, EVP and Secretary William D. Marsh reported equity compensation activity in Class A Common Stock. He received a grant of 18,330 shares at no cost, representing shares earned from performance share units granted in 2023 for a three-year period ending December 31, 2025.
The company withheld 7,213 shares at a price of $51.56 per share to cover tax withholding obligations upon the vesting of previously granted restricted stock units. After these transactions, Marsh directly owned 22,205 shares of Class A Common Stock.
Cactus, Inc. president Joel Bender reported equity compensation and related tax withholding in Class A common stock. He acquired 45,826 shares as shares earned for performance share units granted in 2023 for the three-year period ending December 31, 2025, following approval by the Compensation Committee based on audited 2025 financial statements. On the same date, 18,033 shares were disposed of to the company at $51.56 per share to satisfy tax withholding obligations upon the vesting of previously granted restricted stock units, leaving him with 27,793 directly owned shares.
Cactus, Inc. Chief Operating Officer Steven Bender reported equity compensation activity in Class A Common Stock. He acquired 27,496 shares on a grant/award basis at no cost, earned from performance share units granted in 2023 for a three-year period ending December 31, 2025. On the same date, 10,820 shares at $51.56 per share were disposed of to cover tax withholding obligations upon vesting of previously granted restricted stock units, leaving him with 91,006 directly owned shares.
Cactus, Inc. is an oilfield services company focused on designing, manufacturing, selling and renting pressure control equipment and spoolable pipe for onshore unconventional oil and gas wells. It operates through two segments: Pressure Control (wellheads, frac trees and related services) and Spoolable Technologies (FlexSteel-branded pipe and fittings).
The company has expanded through acquisitions and partnerships. It bought the FlexSteel business in 2023 for $658.6 million, strengthening its spoolable pipe offering. On January 1, 2026, it acquired 65% of Baker Hughes Pressure Control LLC for $344.5 million, creating an international joint venture that adds former Baker Hughes surface pressure control operations, with put/call rights on the remaining stake based on a multiple of trailing Adjusted EBITDA.
Revenue is primarily product-based: in 2025, 76% of total revenues came from product sales, 8% from rentals and 16% from field service and other. Results are cyclical and closely tied to oil and gas activity, particularly U.S. drilling and completions, and increasingly international markets such as the Middle East.
Cactus highlights extensive environmental, health and safety, and regulatory risks, including hydraulic fracturing scrutiny, climate-related rules and global trade disruptions. The structure includes Class A and Class B shares and a tax receivable agreement; as of year-end 2025 Cactus Inc. owned 86.3% of Cactus Companies, with Cactus WH Enterprises holding 12.1% of voting power.
Cactus, Inc. reported fourth quarter 2025 revenue of $261.2 million with operating income of $59.9 million and net income of $48.3 million, or $0.57 diluted earnings per Class A share. Adjusted EBITDA was $85.5 million, yielding a 32.7% margin.
For full year 2025, revenue was $1,079.1 million and net income was $201.6 million, with adjusted net income of $215.7 million and adjusted EBITDA of $353.0 million. The company ended December 31, 2025 with $494.6 million in cash and cash equivalents, including $371.0 million of restricted cash, and no bank debt outstanding.
On January 1, 2026, Cactus closed its previously announced acquisition of a majority interest in Baker Hughes' Surface Pressure Control business, to be reported within the Pressure Control segment. The board approved a quarterly dividend of $0.14 per Class A share, and director Melissa Law informed the company she will not stand for re-election at the 2026 annual meeting.
Cactus WH Enterprises, LLC and related individuals report significant ownership in Cactus, Inc. The group reports beneficial ownership tied to 9,686,249 shares of Class B common stock and 9,686,249 CC Units that are exchangeable one-for-one into Class A common stock.
Cactus WH Enterprises reports beneficial ownership of 9,686,249 shares, or 12.1% of Cactus Class A common stock on an as-exchanged basis. Scott Bender reports 9,765,257 shares, or 12.2%, and Joel Bender reports 9,879,915 shares, or 12.4%. Percentages are based on 68,899,841 Class A shares outstanding and 10,958,435 Class A shares issuable upon exchange as of February 13, 2026.
The filing is a joint Schedule 13G/A amendment by Cactus WH Enterprises, Scott Bender and Joel Bender, who together are identified as a group. Each expressly disclaims beneficial ownership beyond what is attributed under SEC rules.