Form 4: PACCAR Inc. Executive John N. Rich Reports Changes in Beneficial Ownership
SEC Form 4 Filing
John N. Rich, V.P. & Chief Tech. Officer of PACCAR Inc., reports changes in beneficial ownership of company stock, including acquisitions via the Savings Investment Plan and holdings of stock options and units.
Summary
- On March 6, 2024, John N. Rich, V.P. & Chief Tech. Officer of PACCAR Inc., filed a Form 4 with the SEC detailing changes in his beneficial ownership of PACCAR stock.
- Rich acquired 1.908 shares of common stock at $115.47 through a dividend reinvestment in the PACCAR Savings Investment Plan (SIP).
- He directly owns 2,425 shares of common stock.
- He indirectly owns 945.037 shares through the PACCAR Savings Investment Plan (SIP).
- Rich also holds stock options for 11,574 shares (exercisable 01/01/2025, expiring 02/07/2032 at $62.8667), 11,944 shares (exercisable 01/01/2026, expiring 02/08/2033 at $71.95), and 13,164 shares (exercisable 01/01/2027, expiring 02/05/2034 at $104.16).
- Additionally, he holds 5,115 stock units under the Long Term Incentive Plan (LTIP), convertible to common stock upon vesting.
Sentiment
Score: 5
Explanation: The document is a neutral regulatory filing. It doesn't convey any explicit positive or negative sentiment about the company's performance or prospects.
Positives
- The reporting person's continued participation in the company's Savings Investment Plan (SIP) indicates confidence in the company's future performance.
Industry Context
This filing is a routine disclosure related to insider transactions and is a standard practice for publicly traded companies like PACCAR. It provides transparency into the holdings and transactions of company executives.
Comparison to Industry Standards
- Executive compensation packages including stock options and stock units are common practice among publicly traded companies, including PACCAR's competitors such as Daimler Truck, Volvo Group, and Navistar.
- The vesting schedules and exercise prices of the stock options are typical for executive compensation plans designed to align management's interests with those of shareholders.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the stock ownership of a key executive.
- It assures stakeholders that executives' interests are aligned with shareholders through equity-based compensation.
Key Dates
| Date | Description |
|---|---|
| 03/06/2024 | Date of the reported transaction (acquisition of common stock). |
| 03/08/2024 | Date of signature on the Form 4 filing. |
| 01/01/2025 | Earliest exercisable date for one set of stock options. |
| 02/07/2032 | Expiration date for one set of stock options. |
| 01/01/2026 | Earliest exercisable date for one set of stock options. |
| 02/08/2033 | Expiration date for one set of stock options. |
| 01/01/2027 | Earliest exercisable date for one set of stock options. |
| 02/05/2034 | Expiration date for one set of stock options. |
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