Kaiser Jason 4

What Happened
Jason Kaiser, Group President of Caterpillar Inc., was granted 10 phantom stock units (derivative award) on July 24, 2026. The units are reported at a price of $888.73 each for a total reported value of $8,887. This was an award under the company’s non‑qualified supplemental deferred compensation plan—not an open‑market purchase.

Key Details

• Transaction date: 2026-07-24; filing date: 2026-07-27 (filed within the SEC’s two-business-day window).
• Amount: 10 phantom stock units at $888.73 per unit; total reported value $8,887.
• Ownership after transaction: not specified in this filing.
• Footnotes:
  • Phantom units generally equal the economic value of one share of Caterpillar common stock (F1).
  • Of the 10 units, 5 were credited at $888.73 and 5 were contributed with no consideration under the plan (F2).
  • Units are to be settled 100% in cash upon the reporting person’s retirement or separation from service (F3).
  • Units reflect interests in an unfunded unitized stock/cash fund; dividend adjustments and fund composition can change reported unit counts (F4).

Context
These are deferred‑compensation phantom units that will be paid in cash on departure/retirement, not actual share transfers. Such grants are routine executive compensation and do not by themselves signal buying or selling intent in the open market. The reported value (~$8.9K) is modest relative to many insider trades.