Form 4: PACCAR Executive Chairman Mark Pigott Reports Changes in Beneficial Ownership

Mark Pigott, Executive Chairman of PACCAR Inc., reports changes in beneficial ownership of company stock due to dividend reinvestments in various company plans.

Summary

• On March 6, 2024, Mark Pigott, the Executive Chairman of PACCAR Inc., filed a Form 4 with the SEC.
• The filing details changes in his beneficial ownership of PACCAR common stock and derivative securities.
• These changes primarily result from dividend reinvestments in the PACCAR Savings Investment Plan (SIP), Deferred Compensation Plan (DCP), Deferred Incentive Compensation Plan (DICP), and Long Term Incentive Plan (LTIP).
• Pigott acquired 382.624 shares of common stock at a price of $115.47 through the SIP dividend reinvestment.
• He also acquired 150.42 share units under the DCP, 492.01 share units under the DICP, and 197.42 share units under the LTIP, all through dividend reinvestments at a price of $115.47 per share unit.
• Following these transactions, Pigott directly owns 4,843,277 shares of PACCAR common stock and indirectly owns 164,122.852 shares through the SIP, and 424,920 shares by wife and children.
• He also holds derivative securities including 64,478.8375 stock units (DCP), 210,907.5255 stock units (DICP), and 84,625.3695 stock units (LTIP).

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing. It doesn't convey any particularly positive or negative sentiment about the company's performance or prospects.

Positives

• The reporting of transactions is a standard part of regulatory compliance.
• Dividend reinvestments indicate a continued investment in the company by the Executive Chairman.

Industry Context

This filing is a routine disclosure related to insider trading regulations and provides transparency regarding the holdings of company executives.

Comparison to Industry Standards

• Executive stock ownership and trading activity are common and closely monitored across publicly traded companies.
• Dividend reinvestment programs are a standard benefit offered by many companies, including PACCAR, to encourage employee and executive stock ownership.
• Similar filings are regularly made by executives at companies like Daimler Truck, Volvo Group, and Navistar, reflecting their ownership stakes and transactions in their respective companies.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the Executive Chairman's investment in the company.
• It assures stakeholders that the Executive Chairman is aligned with the interests of the shareholders through his continued investment in PACCAR.

Key Dates