Form 4: Cummins CEO Jennifer Rumsey Exercises Stock Options and Disposes of Shares
SEC Form 4 Filing
Jennifer Rumsey, CEO of Cummins Inc., executed stock options and disposed of shares on May 17, 2024, according to a Form 4 filing with the SEC.
Summary
- On May 17, 2024, Jennifer Rumsey, the President & CEO of Cummins Inc., engaged in transactions involving Cummins' common stock and stock options.
- She exercised stock options to acquire 7,070 shares at $109.09, 2,680 shares at $136.82, 1,340 shares at $128.05, and 350 shares at $154.35.
- Following these transactions, Rumsey directly owns 12,926 shares of Cummins common stock.
- She also indirectly owns 1,464.3863 shares through a 401(k) plan and 11,373 shares through a trust.
- The filing also reports the disposal of shares to cover tax obligations related to the option exercises.
Sentiment
Score: 5
Explanation: This is a neutral regulatory filing detailing stock transactions. It doesn't inherently indicate positive or negative sentiment.
Industry Context
Executive stock option exercises and share disposals are common and are typically related to compensation and tax planning. The filing provides transparency into the transactions of company insiders.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in the number of outstanding shares.
Key Dates
| Date | Description |
|---|---|
| 07/01/2017 | Date exercisable for some stock options |
| 04/02/2018 | Date exercisable for some stock options |
| 08/15/2018 | Date exercisable for some stock options |
| 04/04/2019 | Date exercisable for some stock options |
| 04/03/2020 | Date exercisable for some stock options |
| 04/03/2021 | Date exercisable for some stock options |
| 04/04/2022 | Date exercisable for some stock options |
| 10/16/2022 | Date exercisable for some stock options |
| 04/06/2023 | Date exercisable for some stock options |
| 07/01/2024 | Expiration date for some stock options |
| 05/17/2024 | Date of the reported transactions |
| 04/02/2025 | Expiration date for some stock options |
| 08/15/2025 | Expiration date for some stock options |
| 04/04/2026 | Expiration date for some stock options |
| 04/03/2027 | Expiration date for some stock options |
| 04/03/2028 | Expiration date for some stock options |
| 04/04/2029 | Expiration date for some stock options |
| 10/16/2029 | Expiration date for some stock options |
| 04/06/2030 | Expiration date for some stock options |
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