Form 4: Cummins Director Gifts Shares, Adjusts Holdings

Cummins Inc. Director William I. Miller reported a gift of 1,765 common shares, adjusting his direct and indirect beneficial ownership.

Summary

• Director William I. Miller reported a transaction involving Cummins Inc. common stock.
• On August 13, 2025, Mr. Miller disposed of 1,765 common shares via a gift (transaction code 'G') at a price of $0.0000 per share.
• Following this transaction, Mr. Miller directly beneficially owns 52,042.3297 common shares.
• He also indirectly owns 167 common shares through Child #3.
• His direct beneficial ownership includes 186.1849 dividend equivalent shares credited under the Cummins Inc. Deferred Compensation Plan for Non-Employee Directors since the most recently filed Form 4.
• Additionally, Mr. Miller directly beneficially owns 5,136.6232 derivative stock units, which generally do not carry a conversion price, exercise date, or expiration date.

Sentiment

Score: 5

Explanation: The filing reports a gift of shares by a director, which is a routine insider transaction and does not inherently indicate positive or negative sentiment regarding the company's operational performance or future prospects. It represents a change in beneficial ownership for estate planning or similar purposes.

Positives

• The transaction involves a gift, which can be a positive for the recipient.
• The director continues to hold a significant number of shares (over 52,000 directly), indicating continued alignment with shareholder interests.

Negatives

• A reduction in direct beneficial ownership by a director, even via gift, slightly decreases their direct stake in the company.

Future Outlook

This filing is a report of an insider transaction and does not contain forward-looking statements or guidance regarding the company's future performance.

Industry Context

This filing reports a routine insider transaction by a director and does not provide information relevant to broader industry trends or competitive analysis.

Related Party Transactions

• Gift of 167 common shares to Child #3, a related party.

Stakeholder Impact

• Shareholders: Minor impact due to a relatively small change in a director's direct ownership, which is a routine insider transaction.

Key Dates

Keywords

Cummins Inc., CMI, Form 4, Insider Transaction, Director Shareholding, William I. Miller, Stock Gift, Beneficial Ownership, SEC Filing