Form 4: PACCAR EVP Dozier's Equity Vesting & Tax Withholding
Insider Transaction Report
PACCAR Executive Vice President C. Michael Dozier reported the vesting of restricted stock units and subsequent tax-related share withholding.
Summary
- C. Michael Dozier, Executive Vice President of PACCAR Inc (PCAR), reported changes in his beneficial ownership of company securities.
- On January 1, 2026, 5,915 restricted stock units (RSUs) awarded under the PACCAR Long Term Incentive Plan (LTIP) vested and converted into 5,915 shares of PACCAR common stock on a one-for-one basis.
- Following this conversion, Dozier's direct beneficial ownership of common stock increased to 36,172 shares.
- On January 2, 2026, 1,516 shares of common stock were disposed of at a price of $109.51 per share to satisfy tax withholding obligations related to the RSU vesting.
- After these transactions, Dozier's direct beneficial ownership of common stock is 34,656 shares.
- Dozier also holds an indirect beneficial ownership of 19,921.03 shares of common stock through the PACCAR Savings Investment Plan (SIP).
- Outstanding stock options include 20,682 shares with an exercise price of $61.26 (exercisable 01/01/2024, expiring 02/02/2031), 19,494 shares at $62.8667 (exercisable 01/01/2025, expiring 02/07/2032), 38,900 shares at $71.95 (exercisable 01/01/2026, expiring 02/08/2033), 28,610 shares at $104.16 (exercisable 01/01/2027, expiring 02/05/2034), and 25,460 shares at $109.13 (exercisable 01/01/2028, expiring 02/03/2035).
Sentiment
Score: 5
Explanation: The filing reports routine executive equity transactions (vesting and tax withholding) which are standard and expected, thus having a neutral sentiment.
Positives
- The vesting of 5,915 restricted stock units indicates the satisfaction of applicable performance or tenure conditions for the executive.
Negatives
- 1,516 shares were withheld for tax liability, which is a standard practice upon RSU vesting and not inherently negative.
Future Outlook
NA
Industry Context
NA
Stakeholder Impact
- Minimal direct impact on shareholders as this is a routine executive compensation event and does not reflect a change in company operations or financial performance.
Key Dates
| Date | Description |
|---|---|
| 01/01/2024 | Stock option exercisable date for 20,682 shares at $61.26. |
| 01/01/2025 | Stock option exercisable date for 19,494 shares at $62.8667. |
| 01/01/2026 | 5,915 restricted stock units vested and converted to common stock; Stock option exercisable date for 38,900 shares at $71.95. |
| 01/02/2026 | 1,516 shares disposed of for tax liability. |
| 01/01/2027 | Stock option exercisable date for 28,610 shares at $104.16. |
| 01/01/2028 | Stock option exercisable date for 25,460 shares at $109.13. |
| 02/02/2031 | Expiration date for 20,682 stock options. |
| 02/07/2032 | Expiration date for 19,494 stock options. |
| 02/08/2033 | Expiration date for 38,900 stock options. |
| 02/05/2034 | Expiration date for 28,610 stock options. |
| 02/03/2035 | Expiration date for 25,460 stock options. |
Recommendation
holdThis Form 4 filing details routine executive compensation events, specifically the vesting of restricted stock units and subsequent tax-related share withholding. Such transactions are standard and do not typically indicate a change in the company's fundamental performance or outlook, thus a 'hold' recommendation is appropriate based solely on this filing.
Keywords
PACCAR, PCAR, Form 4, Insider Transaction, Executive Compensation, Restricted Stock Units, Stock Options, Equity Vesting, Tax Withholding
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