Robert Wayne Drummond Jr - Sep 28, 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
Stock symbol
PTEN
Transactions as of
Sep 28, 2023
Transactions value $
-$27,163,777
Form type
4
Date filed
10/2/2023, 09:12 PM
Previous filing
Sep 15, 2023
Next filing
Jan 3, 2024

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 +3.05M +321.7% 4M Sep 28, 2023 Direct F1
transaction PTEN Common Stock, $.01 par value per share Tax liability -$19.7M -1.36M -33.88% $14.56 2.64M Sep 28, 2023 Direct F2
transaction PTEN Common Stock, $.01 par value per share Options Exercise +510K +19.29% 3.16M Sep 28, 2023 Direct F3
transaction PTEN Common Stock, $.01 par value per share Disposed to Issuer -$7.43M -510K -16.17% $14.56 2.64M Sep 28, 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 -3.05M -100% 0 Sep 28, 2023 Common Stock, $.01 par value per share 3.05M Direct F1
transaction PTEN Cash-Settled Restricted Stock Units Options Exercise -510K -100% 0 Sep 28, 2023 Common Stock, $.01 par value per share 510K 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.