William Andrew Hendricks JR - May 5, 2023 Form 4 Insider Report for PATTERSON UTI ENERGY INC (PTEN)

Role: President & CEO, Director
Signature: By Barry Huntsman pursuant to a Limited Power of Attorney filed with the SEC on 4/24/2013 /s/ Barry Huntsman
Stock symbol: PTEN
Transactions as of: May 5, 2023
Transactions value $: -$7,420,710
Form type: 4
Date filed: 5/9/2023, 05:13 PM
Previous filing: Jul 13, 2022
Next filing: Jul 17, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PTEN	Common Stock, $.01 par value per share	Award	$0	+144K	+7.99%	$0.00	1.95M	May 5, 2023	Direct	F1
transaction	PTEN	Common Stock, $.01 par value per share	Award	$0	+242K	+12.41%	$0.00	2.19M	May 5, 2023	Direct	F2
transaction	PTEN	Common Stock, $.01 par value per share	Options Exercise		+597K	+27.3%		2.78M	May 5, 2023	Direct	F3
transaction	PTEN	Common Stock, $.01 par value per share	Disposed to Issuer	-$7.42M	-597K	-21.44%	$12.43	2.19M	May 5, 2023	Direct	F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	PTEN	Phantom Unit	Options Exercise		-597K	-100%		0	May 5, 2023	Common Stock	597K		Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Shares received in settlement of the 2020 Performance Unit grant.
F2	Restricted stock units that convert into common stock on a one-for-one basis. One-third of the restricted stock units vests on each of May 5, 2024, May 5, 2025 and May 5, 2026.
F3	Reflects performance-based phantom units that vested on May 5, 2023. Each phantom unit represented the right to receive a cash payment in an amount equal to the average closing price of one share of common stock of the Company, par value $0.01 per share (a "Share") on the principal stock exchange on which the Shares were then listed for the twenty consecutive trading days preceding March 31, 2023.
F4	No shares were actually issued, disposed or sold. Under applicable SEC guidance, cash settlement of phantom units is deemed to involve the conversion of the phantom units into the underlying common stock and the simultaneous disposition of the common stock to the Company for cash. Accordingly, Table 1 uses Transaction Code D to report the phantom unit settlement.