Joel Bender, President of Cactus (NYSE:WHD), sold ~100,000 shares of Class A Common Stock on August 3, 2026, for a total value of $6.4 million, according to the SEC Form 4 filing.
Transaction summary Transaction value based on SEC Form 4 weighted average sale price ($63.89); post-transaction value based on August 03, 2026 market close ($63.84)
Company snapshot – Sector: Energy – Industry: Oil & Gas Equipment & Services – Market capitalization: $4.7 billion Cactus specializes in the engineering, fabrication, distribution, and leasing of critical subsurface pressure management and wellhead apparatus. The company operates across key international markets such as the United States, Australia, China, and the Kingdom of Saudi Arabia. Key questions – How does this transaction affect the executive’s overall alignment with the company?
While the sale significantly reduced direct ownership, Joel Bender maintains a substantial equity position of ~9.3 million shares held indirectly through Cactus Enterprises and Bender Investment Company. – What was the structural nature of this share disposition? The transaction was part of a non-discretionary Rule 10b5-1 trading plan, involving a redemption process where Bender Investment Company converted ownership units in Cactus WH Enterprises into Class A Common Stock for immediate liquidation. – What is the current valuation context for Cactus shares? As of the August 4, 2026 market close, the stock was priced at $67.21, which sits above the $63.89 weighted average execution price reported in the filing and the $63.84 closing price on the day of the trade.