Form 4: PACCAR Executive Todd R. Hubbard Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Todd R. Hubbard, a Vice President at PACCAR Inc., filed a Form 4 detailing transactions involving common stock and stock units, including the conversion of restricted stock units and shares withheld for tax liability.
Summary
- On March 1, 2024, Todd R. Hubbard, a Vice President of PACCAR Inc., reported transactions involving PACCAR's common stock and derivative securities.
- 932 restricted stock units were converted to common stock at a price of $0.00 per share.
- 367 shares were disposed of to cover tax liabilities at a price of $110.89 per share.
- Following these transactions, Hubbard directly owns 6,291 shares of common stock and indirectly owns 6,187.758 shares through the PACCAR Savings Investment Plan (SIP).
- Hubbard also holds various stock options with exercise prices ranging from $43.7067 to $104.16 and varying expiration dates, as well as 6,330.5 stock units under the Long Term Incentive Plan (LTIP).
Sentiment
Score: 5
Explanation: This is a neutral report of insider trading activity, which is a routine occurrence. It doesn't inherently indicate positive or negative sentiment.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the trading activities of company executives.
Comparison to Industry Standards
- Form 4 filings are standard practice for executives at publicly traded companies like PACCAR, similar to filings made by executives at competitors such as Daimler Truck Holding AG and Volvo Group.
- The reporting requirements are consistent across the industry, ensuring transparency in insider trading activities.
- The types of transactions reported (stock option exercises, vesting of restricted stock units, and tax liability coverage) are typical for executive compensation packages in large corporations.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and stock ownership.
- It assures stakeholders that insider trading activities are being monitored and disclosed in accordance with regulations.
Key Dates
| Date | Description |
|---|---|
| 01/01/2021 | Date exercisable for stock options with an exercise price of $45.7933 and an expiration date of 02/07/2028. |
| 01/01/2022 | Date exercisable for stock options with an exercise price of $43.7067 and an expiration date of 02/06/2029. |
| 01/01/2023 | Date exercisable for stock options with an exercise price of $50.7867 and an expiration date of 02/04/2030. |
| 01/01/2024 | Date exercisable for stock options with an exercise price of $61.26 and an expiration date of 02/02/2031. |
| 03/01/2024 | Date of the reported transactions, including the conversion of restricted stock units to common stock and shares withheld for tax liability. |
| 01/01/2025 | Date exercisable for stock options with an exercise price of $62.8667 and an expiration date of 02/07/2032. |
| 01/01/2026 | Date exercisable for stock options with an exercise price of $71.95 and an expiration date of 02/08/2033. |
| 01/01/2027 | Date exercisable for stock options with an exercise price of $104.16 and an expiration date of 02/05/2034. |
| 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. |
| 02/06/2029 | Expiration date for stock options with an exercise price of $43.7067. |
| 02/07/2028 | Expiration date for stock options with an exercise price of $45.7933. |
| 02/04/2030 | Expiration date for stock options with an exercise price of $50.7867. |
| 03/04/2024 | Date of signature for the report. |
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