Cactus CEO Scott Bender Restructures Equity Holdings, Converting Units and Class B Shares to Class A
WHD sits 51% above its 52-week low of $33.2.
Summary
CEO Scott Bender engaged in a series of internal equity transactions, converting ownership interests (Units and Class B Common Stock) into Class A Common Stock, representing a significant internal capital restructuring.
Key Events · Ownership and Investor Activity · WHD
-
Equity Restructuring by CEO
Chairman and CEO Scott Bender engaged in a series of internal transactions involving the conversion of equity interests.
-
Conversion of Units and Class B Shares
The transactions included the disposition of 600,000 Units and 400,000 shares of Class B Common Stock, and the acquisition of 200,000 shares of Class A Common Stock and 400,000 shares of Class B Common Stock (via award).
-
Significant Gross Transaction Value
The gross value of these internal exchanges amounted to over $40 million, representing more than 1% of the company's market capitalization.
-
No Open Market Trades
These transactions were not open market purchases or sales, but rather internal adjustments related to the company's multi-class equity structure and LLC unit redemptions.
Analysis · WHD · Energy & Transportation
This Form 4 filing details a complex internal equity restructuring by CEO Scott Bender, who also serves as Chairman, Director, and a 10% owner. The transactions, totaling over $40 million in gross value (1.002% of market cap), primarily involve the redemption of ownership interests in Cactus WH Enterprises, LLC ("Units") and Class B Common Stock for Class A Common Stock. These are not open market purchases or sales, but rather a rebalancing and conversion of the insider's equity holdings within the company's multi-class share structure. While these transactions do not signal direct bullish or bearish sentiment, they represent a material change in the form of the CEO's ownership, consolidating holdings into Class A Common Stock. This type of restructuring is often a precursor to potential liquidity events or simplification of the capital structure.
How filings like this one have moved
In the 30 days to Sep 11, 2026, 30.5% of the 1996 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.21%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, WHD was trading at $50.02 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $4B. The 52-week trading range was $33.20 to $59.25. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.