Joel Bender, President, Director, and 10% Owner of Cactus, Inc. (NYSE:WHD), filed a Form 4 on November 3, 2026, disclosing a series of transactions dated November 2, 2026, including a sale of 100,000 shares of Class A Common Stock at $63.914 per share through Bender Investment Company pursuant to a Rule 10b5-1 trading plan.

Key Highlights

  • Sale price and volume: Bender Investment Company sold 100,000 shares of Class A Common Stock at $63.914 per share on November 2, 2026.
  • Post-sale direct Class A holding: Following the transactions, Joel Bender directly holds 41,519 shares of Class A Common Stock.
  • Unit redemption: Bender Investment Company redeemed 100,000 Units in Cactus Companies, LLC, receiving 100,000 shares of Class A Common Stock and surrendering a corresponding number of Class B Common Stock shares, which were cancelled by the issuer.
  • Remaining indirect Class B holding: After all reported transactions, the reporting person is deemed to indirectly beneficially own 8,961,249 shares of Class B Common Stock and 8,961,249 Units held directly by Cactus Enterprises.
  • 10b5-1 plan: The filing indicates the sale was made pursuant to a Rule 10b5-1 trading plan, as noted by the checked box on the form and confirmed in Footnote 6.
  • Beneficial ownership disclaimer: The filing states that the reporting person disclaims beneficial ownership of securities not directly owned by him, except to the extent of his indirect pecuniary interest.

Cactus, Inc. President Bender Redeems Units and Sells Class A Shares on November 2, 2026

According to the Form 4 filed with the SEC on November 3, 2026, Joel Bender, who serves as President, Director, and 10% Owner of Cactus, Inc. (NYSE:WHD), reported multiple linked transactions on November 2, 2026. The transactions involved the redemption of ownership interests in Cactus WH Enterprises, LLC ("Cactus Enterprises") and Cactus Companies, LLC, entities connected to the company's multi-class ownership structure.

The filing discloses that Bender Investment Company ("BIC"), a Nevada corporation controlled by Bender, redeemed its interests in Cactus Enterprises. In connection with that redemption, Cactus Enterprises distributed to BIC 100,000 Units and a corresponding number of shares of Class B Common Stock. BIC then redeemed those 100,000 Units for 100,000 shares of Class A Common Stock, while the corresponding Class B shares were cancelled by the issuer, according to the filing. These steps are reflected across multiple transaction codes, including code "J" (other acquisition or disposition) and codes "A" (acquisition) and "D" (disposition), in both Table I and Table II of the filing.

Separately, Footnote 6 of the filing states that "the shares reported herein as sold represent the aggregate number of shares sold by Bender Investment Company pursuant to a Rule 10b5-1 trading plan." The 100,000 Class A shares were sold at $63.914 per share. Following all reported transactions, Bender directly holds 41,519 shares of Class A Common Stock. The filing notes that the reporting person disclaims beneficial ownership of securities held by Cactus Enterprises beyond his indirect pecuniary interest, and states the report "shall not be deemed an admission that the Reporting Person is a member of a group or the beneficial owner of any securities not directly owned by the Reporting Person."

What Was Disclosed

Joel Bender's Form 4 discloses a November 2, 2026 unit redemption by Bender Investment Company converting 100,000 Units into Class A shares, followed by the sale of those 100,000 Class A shares at $63.914 each under a Rule 10b5-1 plan, leaving Bender with 41,519 Class A shares held directly.