Creed Joseph E 4
4 · CATERPILLAR INC · Filed Mar 10, 2026
Research Summary
AI-generated summary of this filing
Caterpillar (CAT) CEO Joseph E. Creed Receives Award
What Happened
Joseph E. Creed, CEO of Caterpillar Inc., was granted 214 phantom stock units on 2026-03-06. The units were reported at an economic value of $680.90 each, totaling $145,713. This was an award (derivative grant), not an open-market purchase or sale of common stock.
Key Details
- Transaction date: 2026-03-06; Form 4 filed 2026-03-10 (filed within the normal reporting window).
- Instrument: Phantom stock units (reported as a derivative grant, Code A). Reported per-unit value: $680.90; total value: $145,713.
- Shares/units owned after transaction: Not specified in this Form 4.
- Footnotes summary:
- F1: Each phantom unit generally equals the economic equivalent of one Caterpillar common share.
- F2: Units will be settled 100% in cash upon the reporting person's retirement or separation from service.
- F3: Units include accrued dividends and represent interests in an unfunded unitized fund (the reported unit count/value can change with the fund’s cash/stock mix).
Context
Grants of deferred compensation phantom units are routine executive compensation and do not represent immediate ownership of common stock. Because these units are cash-settled upon separation/retirement, they provide economic exposure tied to Caterpillar’s stock performance rather than current voting shares.
Insider Transaction Report
Form 4
Creed Joseph E
Chief Executive Officer
Transactions
- Award
Phantom Stock Units
[F1][F2][F3]2026-03-06$680.90/sh+214$145,713→ 11,293 total→ Common Stock (214 underlying)
Footnotes (3)
- [F1]Each phantom stock unit under the company's non-qualified deferred compensation plan as reported is generally the economic equivalent of one share of Caterpillar Inc. common stock.
- [F2]The phantom stock units are to be settled for 100% in cash upon the reporting person's retirement or separation from service.
- [F3]Includes dividends accrued. Moreover, phantom stock units represent interests in an unfunded unitized company stock fund comprised of stock and cash, and therefore the number of phantom stock units the reporting person is deemed to own may change between any given dates due to differences in the percentages of cash and stock in the unitized fund on those dates.
Signature
/s/ Nicole Puza, POA for Joseph E. Creed|2026-03-10