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 transactions involving PACCAR Inc. stock, including the conversion of restricted stock units and shares withheld for tax liability.
Summary
- On March 1, 2025, Darrin C. Siver, Executive Vice President of PACCAR Inc., reported changes in beneficial ownership of the company's stock.
- 1,843 shares of common stock were acquired through the conversion of restricted stock units at a price of $0.00.
- 726 shares were disposed of to cover tax liabilities at a price of $107.24.
- Following these transactions, Siver directly owns 62,122 shares of common stock and indirectly owns 24,158.443 shares through the PACCAR Savings Investment Plan (SIP).
- Siver also holds 11,669 stock units under the Long Term Incentive Plan (LTIP) and 4,394.826 stock units under the Deferred Compensation Plan (DCP).
- Additionally, Siver holds stock options for 38,900 shares at an exercise price of $71.95, expiring on February 8, 2033, 28,610 shares at an exercise price of $104.16, expiring on February 5, 2034, and 25,460 shares at an exercise price of $109.13, expiring on February 3, 2035.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, and the transactions are part of normal executive compensation. Therefore, the sentiment is neutral.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for executives of publicly traded companies. These transactions are subject to regulatory scrutiny to prevent insider trading.
Comparison to Industry Standards
- Executive compensation packages often include stock options and restricted stock units to align management's interests with those of shareholders.
- The vesting schedules and exercise prices of the stock options are typical for executive compensation plans in the industry.
- Companies like Daimler Truck, Volvo Group, and Navistar also utilize similar equity-based compensation strategies for their executives.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 03/01/2025 | Date of earliest transaction (conversion of restricted stock units and tax withholding). |
| 03/04/2025 | Date of signature for the Form 4 filing. |
| 01/01/2026 | Earliest exercisable date for one of the stock option grants. |
| 01/01/2027 | Earliest exercisable date for one of the stock option grants. |
| 01/01/2028 | Earliest exercisable date for one of the stock option grants. |
| 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. |
| 02/03/2035 | Expiration date for stock options with an exercise price of $109.13. |
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