Form 4: Caterpillar CEO Acquires Phantom Stock Units

Caterpillar's CEO, Joseph E. Creed, acquired 3 phantom stock units, increasing his beneficial ownership to 11,583 units.

Summary

• Joseph E. Creed, Chief Executive Officer of Caterpillar Inc. (CAT), acquired 3 phantom stock units on March 26, 2026.
• Two of these units were credited to Mr. Creed's account under the Supplemental Deferred Compensation Plan at a price of $703.19 per share.
• One additional unit was contributed to his account pursuant to the terms of the Plan for no consideration.
• Following this transaction, Mr. Creed beneficially owns a total of 11,583 phantom stock units.
• Each phantom stock unit is generally the economic equivalent of one share of Caterpillar Inc. common stock and is settled for 100% in cash upon retirement or separation from service.
• The total number of phantom stock units beneficially owned may change due to adjustments for dividends accrued and differences in the percentages of cash and stock in the unitized fund.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a moderately positive signal, as it indicates continued executive alignment with company performance through a compensation-related equity acquisition, even if not an open market purchase.

Positives

• The acquisition of phantom stock units, even as part of a compensation plan, demonstrates the CEO's continued alignment with the company's long-term performance.
• The increase in beneficial ownership to 11,583 units signifies a substantial stake in Caterpillar Inc. for the Chief Executive Officer.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that routine insider transactions, such as the acquisition of phantom stock units as part of a deferred compensation plan, are common across industries for executive retention and alignment. While not a direct open-market purchase, it reflects continued participation in the company's equity performance.

Stakeholder Impact

• Shareholders may view the CEO's increased beneficial ownership of phantom stock units as a positive sign of continued commitment to the company's long-term success and alignment of interests.

Key Dates

Keywords

Caterpillar, CAT, Joseph E. Creed, Insider Transaction, Form 4, Executive Compensation, Phantom Stock Units, Beneficial Ownership