Form 4: PACCAR Executive Vice President Michael Dozier Reports Changes in Beneficial Ownership
SEC Form 4
Executive Vice President Michael Dozier reports transactions involving PACCAR stock, including the conversion of stock units and shares withheld for tax liability.
Summary
- On January 1, 2025, Michael Dozier, Executive Vice President of PACCAR INC, converted 6,022 restricted stock units into common stock.
- Also on January 1, 2025, Dozier exercised stock options.
- On January 2, 2025, 1,542 shares of common stock were withheld for payment of tax liability at a price of $104.02.
- Following these transactions, Dozier directly owns 29,140 shares of common stock and indirectly owns 18,970.693 shares through the PACCAR Savings Investment Plan (SIP).
- Dozier also holds various stock options with different exercise prices and expiration dates.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing reflecting standard executive compensation practices. It doesn't contain information that would significantly shift investor sentiment.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into the trading activities of company insiders. This filing indicates standard compensation practices at PACCAR.
Comparison to Industry Standards
- Executive compensation packages including stock options and restricted stock units are common among publicly traded companies like PACCAR.
- Companies such as Daimler Truck, Volvo Group, and Navistar International also utilize similar compensation methods to align executive interests with shareholder value.
- The vesting schedules and exercise prices of the stock options are typical for executive compensation plans in the automotive and manufacturing industries.
Stakeholder Impact
- The transactions reported may have a minor impact on shareholders due to the change in the number of outstanding shares.
- Employees participating in the PACCAR Savings Investment Plan (SIP) are indirectly affected by the executive's transactions.
Key Dates
| Date | Description |
|---|---|
| 01/01/2024 | Date exercisable for stock options at $61.26 expiring 02/02/2031 |
| 01/01/2025 | Restricted stock units converted to common stock; Date exercisable for stock options at $62.8667 expiring 02/07/2032 |
| 01/02/2025 | Shares withheld for payment of tax liability |
| 01/03/2025 | Date of signature for the report |
| 01/01/2026 | Date exercisable for stock options at $71.95 expiring 02/08/2033 |
| 01/01/2027 | Date exercisable for stock options at $104.16 expiring 02/05/2034 |
| 02/02/2031 | Expiration date for stock options at $61.26 |
| 02/07/2032 | Expiration date for stock options at $62.8667 |
| 02/08/2033 | Expiration date for stock options at $71.95 |
| 02/05/2034 | Expiration date for stock options at $104.16 |
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