Form 4: PACCAR Executive Kevin D. Baney Reports Stock Transactions
SEC Form 4 Filing
Senior Vice President Kevin D. Baney of PACCAR Inc. reports the vesting of restricted stock units and subsequent tax withholding.
Summary
- Kevin D. Baney, a Senior Vice President at PACCAR Inc., filed a Form 4 detailing changes in beneficial ownership.
- On March 1, 2024, 826 restricted stock units (LTIP) converted to common stock at a price of $0.00 upon vesting.
- Also on March 1, 2024, 326 shares were withheld for payment of tax liability at $110.89 per share.
- Following these transactions, Baney directly owns 7,121 shares of common stock and indirectly owns 5,181.517 shares through the PACCAR Savings Investment Plan (SIP).
- Baney also holds various stock options with exercise prices ranging from $43.7067 to $104.16 and expiration dates between 2029 and 2034.
- He also holds 5,790 Stock Units (LTIP).
Sentiment
Score: 5
Explanation: This 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 executive, as required by the SEC. It provides transparency into the executive's holdings and transactions in the company's stock.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their executives.
- The details provided are consistent with SEC regulations and reporting requirements.
- Comparable companies such as Volvo, Daimler Truck, and Navistar also have executives who file similar reports when they trade company stock.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and ownership.
- It assures stakeholders that executives' interests are aligned with those of the shareholders.
Key Dates
| Date | Description |
|---|---|
| 01/01/2022 | Date exercisable for stock options with an expiration date of 02/06/2029 and an exercise price of $43.7067. |
| 01/01/2023 | Date exercisable for stock options with an expiration date of 02/04/2030 and an exercise price of $50.7867. |
| 01/01/2024 | Date exercisable for stock options with an expiration date of 02/02/2031 and an exercise price of $61.26; also the vesting date for LTIP awards. |
| 01/01/2025 | Date exercisable for stock options with an expiration date of 02/07/2032 and an exercise price of $62.8667. |
| 01/01/2026 | Date exercisable for stock options with an expiration date of 02/08/2033 and an exercise price of $71.95. |
| 01/01/2027 | Date exercisable for stock options with an expiration date of 02/05/2034 and an exercise price of $104.16. |
| 03/01/2024 | Date of transaction: vesting of restricted stock units and tax withholding. |
| 03/04/2024 | Date of signature for the Form 4 filing. |
| 02/06/2029 | Expiration date for stock options with an exercise price of $43.7067. |
| 02/04/2030 | Expiration date for stock options with an exercise price of $50.7867. |
| 02/02/2031 | Expiration date for stock options with an exercise price of $61.26. |
| 02/07/2032 | Expiration date for stock options with an exercise price of $62.8667. |
| 02/08/2033 | Expiration date for stock options with an exercise price of $71.95. |
| 02/05/2034 | Expiration date for stock options with an exercise price of $104.16. |
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