Form 4: PACCAR Director Hulit Acquires Stock Units Through Dividend Reinvestment

Director Barbara B. Hulit acquired additional stock units in PACCAR Inc. through dividend reinvestment under the company's Restricted Stock and Deferred Compensation Plan.

Summary

• On March 6, 2024, Barbara B. Hulit, a director of PACCAR Inc., acquired 8.0263 stock units through dividend reinvestment.
• These units are held in a deferred phantom stock account under the PACCAR Restricted Stock and Deferred Compensation Plan for non-Employee Directors (RSDCP).
• The dividend on restricted stock units was reinvested in additional restricted stock units pursuant to the RSDCP.
• The price of the stock units was $115.47.
• Following the transaction, Hulit directly owns 3,440.6075 derivative securities.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction indicating continued director investment in the company, which is generally viewed positively. There are no negative implications.

Positives

• The acquisition of stock units through dividend reinvestment demonstrates the director's continued investment in the company.
• The RSDCP plan allows for reinvestment of dividends into additional stock units, aligning director interests with shareholder value.

Future Outlook

NA

Industry Context

This filing is a routine disclosure of a director's transaction in company stock, which is common in publicly traded companies. It reflects standard practices for executive compensation and alignment of interests.

Comparison to Industry Standards

• Director stock ownership and dividend reinvestment plans are common practices among publicly traded companies, including PACCAR's competitors such as Daimler Truck Holding AG, Volvo Group, and Traton SE.
• These plans are designed to align the interests of directors with those of shareholders by incentivizing long-term value creation.
• The specific terms of PACCAR's RSDCP, such as vesting conditions and conversion ratios, are likely comparable to those offered by peer companies to their non-employee directors.

Stakeholder Impact

• The transaction signals continued director confidence in the company, which can positively influence shareholder sentiment.
• The dividend reinvestment plan aligns director interests with those of shareholders, promoting long-term value creation.

Key Dates