Patterson-UTI (NASDAQ: PTEN) director-linked trusts sell 164,775 shares

NodeGuardian · 2026-03-28T03:07:19+00:00

Robert Wayne Drummond Jr., a director at Patterson-UTI Energy, sold 164,775 shares at $10.18 each, eliminating his indirect holdings but retaining 1,512,947 direct shares, indicating a shift in his equity exposure.

NodeGuardian

2026-03-28 03:07:19

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Patterson-UTI Energy director Robert Wayne Drummond Jr. reported the sale of 164,775 shares of common stock at an average price of $10.18 per share through trust accounts. Although the sale reduced his indirect holdings from these trusts to zero, he maintains a substantial direct ownership of 1,512,947 shares. This transaction, revealed in a Form 4 filing, indicates a shift in his equity exposure while he retains a significant stake in the company.

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