Epley Kyle Joseph 4
4 · CATERPILLAR INC · Filed Jul 27, 2026
Research Summary
AI-generated summary of this filing
Caterpillar (CAT) CFO Kyle Epley Receives Phantom Stock Award
What Happened
CFO Kyle Epley received two grants of phantom stock units (derivative awards) on July 24, 2026: 5 units at $888.73 each (reported value $4,444) and 7 units at $888.73 each (reported value $6,221), for a total reported value of $10,665. These were awards under Caterpillar’s deferred compensation arrangements (transaction code A) — not open-market purchases or sales.
Key Details
- Transaction date: 2026-07-24; Filing date: 2026-07-27 (filing appears timely).
- Grant details: 5 units @ $888.73 = $4,444 (derivative); 7 units @ $888.73 = $6,221 (derivative).
- Shares/units owned after the transaction: Not specified in the filing.
- Footnote highlights:
- Phantom stock units are generally the economic equivalent of one share of Caterpillar common stock (F1).
- The reported totals include 3 shares credited due to excess contributions at $888.73 and 2 shares contributed for no consideration under the Supplemental Deferred Compensation Plan (F2).
- Units are payable 100% in cash upon the reporting person’s retirement or separation from service (F3).
- Units represent interests in an unfunded unitized stock-and-cash fund; the unit count can change due to fund composition and dividend adjustments (F4).
Context
Phantom stock units are derivative awards that track the value of company stock but are typically settled in cash, so they do not represent immediate purchases of common shares on the open market. Such awards are routine compensation under deferred compensation plans and do not by themselves indicate the insider is buying or selling the company’s actual shares.
Insider Transaction Report
- Award
Phantom Stock Units
[F1][F2][F3][F4]2026-07-24$888.73/sh+5$4,444→ 5,954 total→ Common Stock (5 underlying) - Award
Phantom Stock Units
[F1][F3]2026-07-24$888.73/sh+7$6,221→ 5,961 total→ Common Stock (7 underlying)
Footnotes (4)
- [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]This total includes 3 shares that were credited to the reporting person's account under the Supplemental Deferred Compensation Plan ("the Plan") as a result of excess contributions at a price per share of $888.73 and 2 shares that were contributed to the reporting person's account pursuant to the terms of the Plan for no consideration.
- [F3]The phantom stock units are to be settled for 100% in cash upon the reporting person's retirement or separation from service.
- [F4]Includes adjustments for 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.