0001209191-24-004214.txt : 20240304
0001209191-24-004214.hdr.sgml : 20240304
20240304162347
ACCESSION NUMBER: 0001209191-24-004214
CONFORMED SUBMISSION TYPE: 4/A
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20230901
FILED AS OF DATE: 20240304
DATE AS OF CHANGE: 20240304
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Gillard Matthew
CENTRAL INDEX KEY: 0001878197
ORGANIZATION NAME:
FILING VALUES:
FORM TYPE: 4/A
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-39270
FILM NUMBER: 24715246
MAIL ADDRESS:
STREET 1: 3990 ROGERDALE RD.
CITY: HOUSTON
STATE: TX
ZIP: 77042
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: PATTERSON UTI ENERGY INC
CENTRAL INDEX KEY: 0000889900
STANDARD INDUSTRIAL CLASSIFICATION: DRILLING OIL & GAS WELLS [1381]
ORGANIZATION NAME: 01 Energy & Transportation
IRS NUMBER: 752504748
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 10713 WEST SAM HOUSTON PARKWAY NORTH
STREET 2: SUITE 800
CITY: HOUSTON
STATE: TX
ZIP: 77064
BUSINESS PHONE: 2817657100
MAIL ADDRESS:
STREET 1: 10713 WEST SAM HOUSTON PARKWAY NORTH
STREET 2: SUITE 800
CITY: HOUSTON
STATE: TX
ZIP: 77064
FORMER COMPANY:
FORMER CONFORMED NAME: PATTERSON ENERGY INC
DATE OF NAME CHANGE: 19940228
4/A
1
doc4a.xml
FORM 4/A SUBMISSION
X0508
4/A
2023-09-01
2023-09-06
0
0000889900
PATTERSON UTI ENERGY INC
PTEN
0001878197
Gillard Matthew
10713 W SAM HOUSTON PKWY N
SUITE 800
HOUSTON
TX
77064
0
1
0
0
President-Completions
0
Common Stock, $.01 par value per share
2023-09-01
4
A
0
65058
A
65058
D
Restricted Stock Units
2023-09-01
4
A
0
270470
A
Common Stock, $.01 par value per share
270470
270470
D
Cash-Settled Restricted Stock Units
2023-09-01
4
A
0
244889
A
Common Stock, $.01 par value per share
244889
244889
D
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.
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.
On September 6, 2023, the Reporting Person filed a Form 4 which inadvertently reported an incorrect number of restricted stock units acquired in the Mergers due to immaterial rounding errors. These items have been corrected in this amendment, which reports 2 additional restricted stock units.
These restricted stock units ("RSUs") were acquired by the Reporting Person in the Mergers in exchange for NexTier restricted stock units and performance stock units held by the Reporting Person immediately prior to the Effective Time based on the Exchange Ratio. The RSUs will vest in accordance with the following schedule: (i) 18,682 on January 2, 2024, (ii) 40,406 on January 3, 2024, (iii) 24,816 on August 16, 2024, (iv) 18,133 on January 2, 2025, (v) 40,407 on January 3, 2025, (vi) 109,894 on December 31, 2025 and (vii) 18,132 on January 2, 2026. Each RSU represents the right to receive a share of the Issuer's common stock or a cash payment in lieu thereof.
These cash-settled restricted stock units ("Cash-Settled RSUs") were acquired by the Reporting Person in the Mergers in exchange for NexTier performance units held by the Reporting Person immediately prior to the Effective Time based on the Exchange Ratio. The Cash-Settled RSUs will fully vest on December 31, 2024. Each Cash-Settled RSU represents the right to receive a cash payment equal to the fair market value of a share of the Issuer's common stock on the settlement date.
By Forrest Robinson pursuant to a limited power of attorney filed with the SEC on 09/06/2023 /s/Forrest Robinson
2024-03-04