Kaiser Jason 4

What Happened

• Jason Kaiser, Group President of Caterpillar Inc., was granted 5 phantom stock units on 2026-06-26. The units are reported as a derivative award (code A) at a price per share of $997.47, for a total reported value of $4,987. These are not open-market stock purchases but deferred compensation awards.

Key Details

• Transaction date and filing: Award granted 2026-06-26; Form 4 filed 2026-06-29 (timely filing).
• Amounts and price: 5 phantom stock units credited at $997.47 per unit; total reported value $4,987.
• Shares owned after transaction: Not stated on the Form 4.
• Footnote highlights:
  • The phantom stock units are generally the economic equivalent of one Caterpillar common share (F1).
  • Of the 5 units, 3 were credited at $997.47 and 2 were contributed for no consideration under the Supplemental Deferred Compensation Plan (F2).
  • Units will be settled 100% in cash upon the reporting person’s retirement or separation from service (F3).
  • Units reflect interests in an unfunded unitized stock-and-cash fund; dividend accruals and fund composition can change the reported unit count (F4).
• Transaction type: Derivative award (phantom units), not an immediate equity purchase or sale.

Context

• Phantom stock units are a form of deferred compensation that track the economic value of company stock but are generally settled in cash at termination or retirement; they do not represent currently transferable shares.
• Such awards are common for executive compensation and do not, by themselves, signal an immediate change in insider buying/selling sentiment.