---
schema_version: "secwatch.filing_event.v1"
accession: "0000889900-24-000007"
form_type: "8-K"
ticker: "PTEN"
cik: "0000889900"
company_name: "PATTERSON UTI ENERGY INC"
filed_at: "2024-09-03T23:59:59+00:00"
generated_at: "2026-05-31T06:43:46.832592+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Patterson-UTI EVP & CBO Holcomb to transition to advisor by 2026/2027, waives good reason

## Summary
- James M. Holcomb to remain EVP & CBO until Dec 31, 2026 (if elected) or Dec 31, 2027; then advisor to Sep 30, 2030.
- Advisor role reduced base salary to 55% of pre-transition level; no further bonuses or equity grants.
- Holcomb waives ‘good reason’ termination rights due to NexTier merger-related role changes.
- No severance upon separation on Sep 30, 2030; voluntary early resignation forfeits retiree benefits and retirement vesting.
- Existing equity awards remain outstanding per plan terms; agreement dated August 27, 2024.

## SEC filing metadata
- accession: 0000889900-24-000007
- form_type: 8-K
- ticker: PTEN
- cik: 0000889900
- company_name: PATTERSON UTI ENERGY INC
- filed_at: 2024-09-03T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/889900/000088990024000007/0000889900-24-000007-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/889900/000088990024000007/pten-20240827.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000889900-24-000007
- JSON: https://secwatch.observer/filing/0000889900-24-000007.json
- Plain text: https://secwatch.observer/filing/0000889900-24-000007.txt

## Key facts
- Executive change
  James M. Holcomb changed role as Executive Vice President and Chief Business Officer at PATTERSON UTI ENERGY INC.
  - Action: agreed to serve as a non-executive advisor
  - Role: Executive Vice President and Chief Business Officer
  source text: Pursuant to the Holcomb Agreement, Mr. Holcomb will continue in his role as Executive Vice President and Chief Business Officer of the Company until (i) December 31, 2026 (if Mr. Holcomb so elects and provides at least three months’ prior notice to the Company), or (ii) December 31, 2027 (as applicable, the “Transition Date”). From the Transition Date through September 30, 2030, Mr. Holcomb has agreed to serve as a non-executive advisor
  evidence_url: https://www.sec.gov/Archives/edgar/data/889900/000088990024000007/0000889900-24-000007-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.