James Carl Stewart - Sep 1, 2023 Form 4/A - Amendment Insider Report for PATTERSON UTI ENERGY INC (PTEN)

Role: Director
Signature: By Forrest Robinson pursuant to a limited power of attorney filed with the SEC on 09/06/2023 /s/Forrest Robinson
Stock symbol: PTEN
Transactions as of: Sep 1, 2023
Transactions value $: $0
Form type: 4/A - Amendment
Date filed: 9/18/2023, 05:16 PM
Date Of Original Report: Sep 6, 2023
Previous filing: Jun 16, 2023
Next filing: Sep 18, 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		+96.2K			96.2K	Sep 1, 2023	Direct	F1, F2
transaction	PTEN	Common Stock, $.01 par value per share	Award		+1.34M			1.34M	Sep 1, 2023	By JCS Partners LP	F1, F2, F3

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	Stock Option (Right to Buy)	Award		+135K			135K	Sep 1, 2023	Common Stock, $.01 par value per share	135K	$20.79	Direct	F4
transaction	PTEN	Stock Option (Right to Buy)	Award		+23.1K			23.1K	Sep 1, 2023	Common Stock, $.01 par value per share	23.1K	$18.85	Direct	F5

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

Explanation of Responses:

Id	Content
F1	This Form 4 reports securities acquired in connection with the mergers (the "Mergers") contemplated by that certain Agreement and Plan of Merger (as amended, the "Merger Agreement"), dated as of June 14, 2023, by and among Patterson-UTI Energy, Inc. (the "Issuer"), certain subsidiaries of the Issuer, and NexTier Oilfield Solutions Inc. ("NexTier"). On September 1, 2023, as a result of the Mergers contemplated by the Merger Agreement, at the Effective Time (as defined in the Merger Agreement), each outstanding share of common stock of NexTier was converted automatically into the right to receive 0.7520 (the "Exchange Ratio") shares of common stock of the Issuer, with cash paid in lieu of the issuance of any fractional shares of the Issuer's common stock.
F2	The shares of the Issuer's common stock reported above were acquired by the Reporting Person in respect of the shares of common stock of NexTier owned by the Reporting Person immediately prior to the Effective Time. On the trading day immediately prior to the Effective Time, the closing price of the Issuer's common stock was $14.14 per share and the closing price of NexTier's common stock was $10.61 per share.
F3	Held by JCS Partners LP, a limited partnership over which the reporting person exercises ownership and control.
F4	These fully vested stock options were acquired by the Reporting Person in the Mergers in exchange for stock options to purchase shares of common stock of NexTier for $15.63 per share held by the Reporting Person immediately prior to the Effective Time based on the Exchange Ratio.
F5	These fully vested stock options were acquired by the Reporting Person in the Mergers in exchange for stock options to purchase shares of common stock of NexTier for $14.17 per share held by the Reporting Person immediately prior to the Effective Time based on the Exchange Ratio.