Robert Wayne Drummond Jr. - 28 Sep 2023 Form 4 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
Issuer symbol
PTEN
Transactions as of
28 Sep 2023
Net transactions value
-$27,163,777
Form type
4
Filing time
02 Oct 2023, 21:12:08 UTC
Previous filing
15 Sep 2023
Next filing
03 Jan 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PTEN Common Stock, $.01 par value per share Options Exercise +3,051,766 +322% 4,000,411 28 Sep 2023 Direct F1
transaction PTEN Common Stock, $.01 par value per share Tax liability $19,735,483 -1,355,459 -34% $14.56 2,644,952 28 Sep 2023 Direct F2
transaction PTEN Common Stock, $.01 par value per share Options Exercise +510,185 +19% 3,155,137 28 Sep 2023 Direct F3
transaction PTEN Common Stock, $.01 par value per share Disposed to Issuer $7,428,294 -510,185 -16% $14.56 2,644,952 28 Sep 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 Restricted Stock Units Options Exercise -3,051,766 -100% 0 28 Sep 2023 Common Stock, $.01 par value per share 3,051,766 Direct F1
transaction PTEN Cash-Settled Restricted Stock Units Options Exercise -510,185 -100% 0 28 Sep 2023 Common Stock, $.01 par value per share 510,185 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects the settlement of restricted stock units that, as previously reported, fully vested on September 1, 2023.
F2 Shares disposed to pay applicable withholding taxes on restricted stock units converted into common stock on September 28, 2023.
F3 Reflects the settlement of cash-settled restricted stock units that, as previously reported, fully vested on September 1, 2023.
F4 No shares were actually issued, disposed or sold. Under applicable SEC guidance, cash settlement of restricted stock units is deemed to involve the conversion of the cash-settled restricted stock 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 cash-settled restricted stock unit settlement.