Form 4: Caterpillar CAO Schaupp Reports Equity Transactions

Caterpillar's Chief Accounting Officer, William E. Schaupp, reported the acquisition of common stock and stock options, alongside a disposition of shares for tax obligations.

Summary

• William E. Schaupp, Chief Accounting Officer of Caterpillar Inc. (CAT), reported transactions involving the company's common stock and employee stock options.
• On March 2, 2026, Schaupp acquired 102 shares of Common Stock at a price of $0, which includes an adjustment for accrued dividends.
• On March 3, 2026, 18 shares of Common Stock were disposed of at a price of $719.13 per share to satisfy tax obligations arising from the vesting of restricted stock units granted on March 3, 2025.
• Following these transactions, Schaupp beneficially owns 909 shares of Common Stock directly.
• On March 2, 2026, Schaupp was granted 285 Employee Stock Options with an exercise price of $752.18 per option.
• These stock options were granted under the Caterpillar Inc. 2023 Long Term Incentive Plan and will vest in equal 1/3 increments on the first, second, and third anniversaries of the grant date.
• The employee stock options have an expiration date of March 2, 2036.
• Following the derivative transaction, Schaupp beneficially owns 285 employee stock options directly.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, typical for routine insider compensation disclosures. It reflects standard executive equity grants and tax-related share dispositions, not indicative of significant operational or financial news.

Positives

• The acquisition of 102 shares of common stock at $0, including dividend adjustments, increases the reporting person's direct equity stake in Caterpillar.
• The grant of 285 employee stock options aligns the Chief Accounting Officer's long-term incentives with shareholder value creation.
• The options are part of the Caterpillar Inc. 2023 Long Term Incentive Plan, indicating ongoing commitment to performance-based compensation.

Negatives

• 18 shares of common stock were disposed of to cover tax obligations, resulting in a reduction of direct share ownership.

Future Outlook

The granted employee stock options will vest in three equal annual increments, starting on the first anniversary of the March 2, 2026 grant date, providing a clear future incentive structure for the Chief Accounting Officer.

Industry Context

StockSavvy.ai notes that these transactions represent routine insider compensation and tax-related activities, common across publicly traded companies. The grant of stock options aligns executive incentives with long-term shareholder value, a standard practice in the heavy machinery and industrial sector.

Stakeholder Impact

• Shareholders: The transactions represent routine executive compensation, aligning management's interests with long-term shareholder value through equity grants. The impact on overall share structure is negligible.

Next Steps

• The 285 employee stock options will vest in 1/3 increments on March 2, 2027, March 2, 2028, and March 2, 2029.

Key Dates

Keywords

Caterpillar, CAT, Form 4, Insider Trading, Stock Options, Common Stock, Equity Grant, Executive Compensation, Restricted Stock Units, Dividend Adjustment