Sec Form 4 Filing - CADENT ENERGY PARTNERS II LP @ Cactus, Inc. - 2019-03-21

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
CADENT ENERGY PARTNERS II LP
2. Issuer Name and Ticker or Trading Symbol
Cactus, Inc. [ WHD]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X __ Director X __ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
800 WESTCHESTER AVENUE, SUITE S-436
3. Date of Earliest Transaction (MM/DD/YY)
03/21/2019
(Street)
RYE BROOK, NY10573
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
_____ Form filed by One Reporting Person
__ X __ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Class B Common Stock 03/21/2019 D 5,950,000 D 8,347,466 D
Class A Common Stock 03/21/2019 J( 2 ) 5,950,000 A 5,955,264 D
Class A Common Stock 03/21/2019 S 5,950,000 D $ 35.93 5,264 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Units ( 3 ) ( 4 ) ( 5 ) 03/21/2019 J( 1 ) 5,950,000 ( 4 )( 5 ) ( 4 )( 5 ) Class A Common Stock 5,950,000 ( 6 ) 8,347,466 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
CADENT ENERGY PARTNERS II LP
800 WESTCHESTER AVENUE
SUITE S-436
RYE BROOK, NY10573
X X
Cadent Energy Partners II-GP, LP
800 WESTCHESTER AVENUE
SUITE S-436
RYE BROOK, NY10573
X X
Cadent Energy Partners, LLC
800 WESTCHESTER AVENUE
SUITE S-436
RYE BROOK, NY10573
X X
CEP II-GP, LLC
800 WESTCHESTER AVENUE
SUITE S-436
RYE BROOK, NY10573
X X
Signatures
Cadent Energy Partners II, L.P., by Cadent Energy Partners II - GP, L.P., its general partner, by CEP II - GP, LLC, its general partner, by Cadent Energy Partners, LLC By /s/ Paul McDermott, Manager 03/25/2019
Signature of Reporting Person Date
Explanation of Responses:
( 1 )These securities were disposed of in connection with the closing of the Issuer's most recent secondary public offering on March 21, 2019 (the "Offering"). In connection with the redemption of Units, as described below, the Reporting Person disposed of a corresponding number of shares of Class B Common Stock, which shares were cancelled by the Issuer.
( 2 )These securities were acquired in connection with the closing of the Offering. In connection with the redemption of Units, as described below, the Reporting Person acquired a corresponding number of shares of Class A Common Stock.
( 3 )"Units" mean ownership interests in Cactus Wellhead, LLC ("Cactus LLC"). The Issuer is the sole managing member of Cactus LLC.
( 4 )The first amended and restated limited liability company operating agreement of Cactus LLC provides the holders of Units with certain rights to cause Cactus LLC to acquire all or at least a minimum portion of their Units for, at Cactus LLC's election, (x) shares of Class A Common Stock at a redemption ratio of one share of Class A Common Stock for each Unit redeemed, subject to conversion rate adjustments for stock splits, stock dividends and reclassification and other similar transactions, or (y) an equivalent amount of cash (the "Redmeption Right"). In connection with the Offering, the Reporting Person exercised his Redemption Right with respect to Units owned by him.
( 5 )Upon the exercise of the Redemption Right, the Issuer (instead of Cactus LLC) has the right (the "Call Right") to acquire each tendered Unit directly from the exchanging Unit holder for, at its election, (x) shares of Class A Common Stock at a redemption ratio of one share of Class A Common Stock for each Unit redeemed, subject to conversion rate adjustments for stock splits, stock dividends and reclassification and other similar transactions, or (y) an equivalent amount of cash (the "Call Right"). In connection with the Offering, the Issuer exercised its Call Right and acquired the tendered Units (and a corresponding number of shares of Class B Common Stock) in return for shares of Class A Common Stock.
( 6 )The Units were redeemed for Class A Common Stock on March 21, 2019 in connection with the Offering.

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