Form 4: PACCAR Executive Vice President Darrin C Siver Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Executive Vice President Darrin C Siver reports changes in beneficial ownership of PACCAR Inc. stock, including acquisitions through dividend reinvestments and holdings in various company plans.
Summary
- Darrin C Siver, Executive Vice President of PACCAR Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
- On March 6, 2024, Siver acquired 54.054 shares of common stock at a price of $115.47 per share through a dividend reinvestment in the PACCAR Savings Investment Plan (SIP).
- Following the reported transaction, Siver directly owns 56,526 shares of PACCAR common stock.
- He also indirectly owns 23,214.177 shares through the PACCAR Savings Investment Plan (SIP).
- Additionally, Siver holds 3,961.747 stock units in a deferred phantom stock account under the PACCAR Deferred Compensation Plan (DCP).
- He also holds 12,164 restricted stock units in a deferred phantom stock account under the Long Term Incentive Plan (LTIP).
- Siver also holds multiple stock options with varying exercise prices and expiration dates, totaling 169,170 shares.
- The filing also indicates that Siver's holdings include stock options with exercise prices ranging from $43.7067 to $104.16 and expiration dates between 2028 and 2034.
Sentiment
Score: 6
Explanation: The document is neutral in tone, simply reporting transactions. The executive's continued investment suggests a moderately positive outlook.
Positives
- The executive's continued investment in the company through dividend reinvestment demonstrates confidence in PACCAR's future performance.
- The executive's holdings in various company plans such as SIP, DCP and LTIP align his interests with those of the shareholders.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. These filings are closely watched by investors as they can provide insights into management's view of the company's prospects.
Comparison to Industry Standards
- Executive compensation packages often include stock options and restricted stock units to align management's interests with those of shareholders, a common practice among publicly traded companies like PACCAR.
- Dividend reinvestment plans are a standard offering in many companies, allowing shareholders to automatically reinvest dividends into additional shares, similar to programs offered by competitors in the automotive and manufacturing sectors.
Stakeholder Impact
- The reported transactions provide transparency to shareholders regarding executive compensation and ownership.
- The executive's participation in company investment plans aligns his interests with those of shareholders.
Key Dates
| Date | Description |
|---|---|
| 01/01/2021 | Date exercisable for stock options with an expiration date of 02/07/2028 and an exercise price of $45.7933. |
| 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. |
| 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. |
| 02/02/2031 | Expiration date for stock options with an exercise price of $61.26. |
| 02/04/2030 | Expiration date for stock options with an exercise price of $50.7867. |
| 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. |
| 02/07/2032 | 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. |
| 03/06/2024 | Date of the transaction where shares were acquired through dividend reinvestment. |
| 03/08/2024 | Date of signature for the Form 4 filing. |
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