Form 4: PACCAR Director John Pigott Reports Stock Transactions

Director John Pigott of PACCAR Inc. reports transactions involving stock units and common stock, including acquisitions and holdings through various trusts.

Summary

• John Pigott, a director at PACCAR Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's securities.
• The report includes transactions on January 2, 2025, involving stock units and common stock.
• Pigott directly owns 2,283,953 shares of PACCAR common stock.
• He also indirectly owns 51,526 shares through Grantor Retained Annuity Trusts and 1,079,416 shares through a trust held for his children.
• The transactions include the acquisition of 338.4258 stock units at a price of $103.42, and 1,693 restricted stock units.
• These stock units are held in a deferred phantom stock account under PACCAR's Restricted Stock and Deferred Compensation Plan for non-employee directors.
• The stock units are convertible to PACCAR common stock on a 1-for-1 basis upon termination of his status as a non-employee director or upon satisfaction of vesting conditions.

Sentiment

Score: 5

Explanation: The document is a neutral report of stock transactions, with no inherent positive or negative sentiment.

Industry Context

This filing is a routine disclosure of stock transactions by a company director, which is a common practice in publicly traded companies.

Comparison to Industry Standards

• Form 4 filings are standard practice for directors and officers of publicly traded companies in the US, as mandated by the SEC.
• The reported transactions are typical for directors who receive stock-based compensation and hold shares in the company.
• The use of trusts for holding shares is a common strategy for estate planning and tax purposes.

Stakeholder Impact

• The transactions reported in this filing are unlikely to have a significant impact on stakeholders, as they are routine for a company director.

Key Dates

Keywords

PACCAR, Director, Stock Units, Common Stock, Beneficial Ownership, Form 4, Transactions, Deferred Compensation, Restricted Stock Units