Short answer
PATTERSON UTI ENERGY INC (PTEN) filed an 8-K current report with the SEC on June 4, 2026 reporting Item 5.02 (Departure/Election of Directors or Officers), Item 5.07 (Submission of Matters to a Vote of Security Holders), Item 8.01 (Other Events). Stockholders approved 28.9 million additional shares under Patterson-UTI’s 2021 Long-Term Incentive Plan.
PATTERSON UTI ENERGY INC 8-K event analysis
AI summary of each reported item and its exhibits
Item 5.02 · Departure/Election of Directors or Officers
- Stockholders approved 28.9 million additional shares under Patterson-UTI’s 2021 Long-Term Incentive Plan
- Expanded equity authorization increases potential dilution for existing shareholders
- Amendment supports future employee and executive compensation awards
- Plan terms detailed in Exhibit 10.1 and the 2026 proxy statement
Item 5.07 · Submission of Matters to a Vote of Security Holders
- All ten director nominees elected, preserving current board composition for the next annual meeting
- PwC auditor selection ratified for fiscal 2026, with 334,874,711 votes for and 10,307,536 against
- 2021 Long-Term Incentive Plan amendment approved, supporting continued equity-based employee compensation
- Executive compensation advisory vote approved, with 311,543,039 votes for and 15,554,952 against
- 345,360,405 shares represented, approximately 91% of outstanding shares eligible to vote
Item 8.01 · Other Events
- Redemption completed June 4, 2026 for approximately $482.5 million of 3.95% Senior Notes due 2028
- 2028 Notes redeemed at 100% of principal plus accrued unpaid interest
- Refinancing replaced lower-cost 3.95% debt with $500 million of 6.050% Senior Notes due 2036
- Higher coupon increases interest expense while extending debt maturity to 2036
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
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