Form 4: PACCAR Director Acquires 1,569 Stock Units

PACCAR Director Kirk S. Hachigian acquired 1,569 restricted stock units valued at $111.56 each, increasing his beneficial ownership.

Summary

• Kirk S. Hachigian, a Director of PACCAR INC (PCAR), acquired 1,569 derivative securities in the form of Stock Units (RSDCP).
• The transaction occurred on January 2, 2026.
• These restricted stock units are held in a deferred phantom stock account under the PACCAR Restricted Stock and Deferred Compensation Plan for non-Employee Directors (RSDCP).
• Each stock unit is convertible to PACCAR common stock on a 1-for-1 basis upon satisfaction of all applicable vesting conditions.
• The price of the derivative security at the time of acquisition was $111.56 per unit.
• Following this transaction, Mr. Hachigian beneficially owns 76,077.2697 derivative securities directly.

Sentiment

Score: 7

Explanation: The acquisition of restricted stock units by a director, even as part of a compensation plan, generally indicates continued confidence in the company's future and aligns management interests with shareholders.

Positives

• A Director, Kirk S. Hachigian, increased his beneficial ownership in PACCAR by acquiring 1,569 restricted stock units, signaling continued alignment with shareholder interests.
• The acquisition was made under the PACCAR Restricted Stock and Deferred Compensation Plan for non-Employee Directors, indicating a structured compensation and retention mechanism for key personnel.

Future Outlook

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

Industry Context

Insider buying, even through compensation plans, can be seen as a positive signal of confidence in the company's future performance, aligning director interests with long-term shareholder value. This is a standard practice for non-employee director compensation within the industry.

Comparison to Industry Standards

• The use of restricted stock units (RSUs) as part of non-employee director compensation is a common practice across various industries, including the automotive and heavy-duty truck manufacturing sector where PACCAR operates.
• This method aligns director incentives with long-term company performance and shareholder value, similar to practices at peers like Daimler Truck Holding AG (DTG) or Volvo Group (VOLV-B.ST), which also utilize equity-based compensation for their boards.
• The 1-for-1 conversion to common stock upon vesting is a standard structure for such equity awards.

Stakeholder Impact

• Shareholders: Increased alignment of director's interests with long-term shareholder value.

Next Steps

• Satisfaction of applicable vesting conditions for the restricted stock units.
• Conversion of restricted stock units to PACCAR common stock upon vesting.

Key Dates

Recommendation

This Form 4 reports a routine acquisition of restricted stock units by a director as part of their compensation plan. While it signals continued alignment of interests, it does not provide new fundamental information about the company's operational or financial performance that would warrant a change in investment recommendation. It's a standard insider transaction.

Keywords

PACCAR, PCAR, Form 4, Insider Trading, Stock Units, Restricted Stock, Director Compensation, Beneficial Ownership