Form 4: Caterpillar Inc. Executive Joseph E. Creed Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Chief Operating Officer Joseph E. Creed reports acquisition of phantom stock units in Caterpillar Inc.'s deferred compensation plans.
Summary
- On October 25, 2024, Joseph E. Creed, Chief Operating Officer of Caterpillar Inc., reported changes in beneficial ownership.
- Creed acquired 29 phantom stock units under the company's non-qualified deferred compensation plans.
- This includes 15 shares credited under the Supplemental Deferred Compensation Plan at $385.97 per share and 14 shares contributed to the account for no consideration.
- Following the transaction, Creed beneficially owns 9,240 phantom stock units.
- These units are to be settled in cash upon retirement or separation from service.
- The phantom stock units represent interests in an unfunded unitized company stock fund comprised of stock and cash.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing regarding executive compensation, indicating a neutral sentiment.
Future Outlook
The phantom stock units will be settled in cash upon the reporting person's retirement or separation from service.
Industry Context
Executive compensation through phantom stock units is a common practice in large corporations to align management's interests with those of shareholders.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it reflects changes in executive compensation.
Key Dates
| Date | Description |
|---|---|
| 10/25/2024 | Date of transaction: Joseph E. Creed acquired phantom stock units. |
| 10/28/2024 | Date of report: Form 4 filing date. |
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