Form 4: PACCAR Inc. Executive Michael K. Walton Reports Stock Transactions
SEC Form 4 Filing
Michael K. Walton, Vice President/General Counsel of PACCAR Inc., reports acquisition of common stock and stock units through dividend reinvestments and holdings in deferred compensation plans.
Summary
- On September 5, 2024, Michael K. Walton, Vice President/General Counsel of PACCAR Inc., reported transactions involving PACCAR's common stock and derivative securities.
- Walton acquired 19.921 shares of common stock at $92.57 through a dividend reinvestment in the PACCAR Savings Investment Plan (SIP).
- He also acquired 42.418 stock units through a dividend reinvestment in the PACCAR Deferred Compensation Plan (DCP), convertible to common stock on a one-for-one basis.
- Walton directly owns 130 shares of common stock.
- Walton holds 6,151.317 shares of common stock indirectly through the PACCAR Savings Investment Plan (SIP).
- Walton directly owns 13,131.231 stock units (DCP).
- Walton directly owns 7,302 stock options exercisable on 01/01/2025 expiring on 02/07/2032 with an exercise price of $62.8667.
- Walton directly owns 7,918 stock options exercisable on 01/01/2026 expiring on 02/08/2033 with an exercise price of $71.95.
- Walton directly owns 6,108 stock options exercisable on 01/01/2027 expiring on 02/05/2034 with an exercise price of $104.16.
- Walton directly owns 2,856 stock units (LTIP).
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing simply reports routine transactions related to executive compensation. The dividend reinvestments could be seen as a slightly positive sign of confidence.
Positives
- The acquisition of shares through dividend reinvestment indicates confidence in the company's future performance.
Industry Context
Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders. These filings are closely watched by investors to gauge management's sentiment and confidence in the company's prospects.
Comparison to Industry Standards
- Comparing Walton's holdings and transactions to those of executives at competitors like Daimler Truck Holding AG and Volvo Group could provide insights into relative executive compensation and stock ownership strategies.
- Analyzing the vesting schedules and exercise prices of Walton's stock options against industry benchmarks can reveal whether PACCAR's executive compensation practices are competitive.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive stock ownership.
- The transactions have a minimal direct impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 09/05/2024 | Date of earliest transaction: Acquisition of common stock and stock units. |
| 09/06/2024 | Date of signature for the report. |
| 01/01/2025 | Date stock options become exercisable. |
| 01/01/2026 | Date stock options become exercisable. |
| 01/01/2027 | Date stock options become exercisable. |
| 02/07/2032 | Expiration date of stock options. |
| 02/08/2033 | Expiration date of stock options. |
| 02/05/2034 | Expiration date of stock options. |
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