Caterpillar (CAT) CFO Kyle Epley Receives Award

What Happened

• Kyle Joseph Epley, Chief Financial Officer of Caterpillar Inc., received two grants of phantom stock units (derivative awards) on September 25, 2026. The filings report 11 units at $821.58 each ($9,037) and 7 units at $821.58 each ($5,751), totaling 18 units valued at approximately $14,788. These were awards/acquisitions under the company’s deferred compensation arrangements, not open-market purchases or sales.

Key Details

• Transaction date: 2026-09-25; Filing date: 2026-09-28 (no indication in the filing that it was marked late).
• Prices reported: $821.58 per unit; totals of $9,037 and $5,751 for the two line items (combined ≈ $14,788).
• Shares/units owned after transaction: not specified in the provided filing details.
• Footnotes of note:
  • F1: Each phantom stock unit is generally the economic equivalent of one share of Caterpillar common stock.
  • F2: The total includes 6 units credited due to excess contributions at $821.58 and 5 units contributed for no consideration under the Supplemental Deferred Compensation Plan.
  • F3: Phantom units are to be settled 100% in cash upon the reporting person’s retirement or separation.
  • F4: Units reflect interests in a unitized stock-and-cash fund; unit counts can change with fund composition and include accrued dividends.
• Transaction type code: A (award/grant/other acquisition), reported as a derivative award.

Context

• These are phantom (cash-settled) stock units, meaning Epley receives a cash payment tied to Caterpillar’s stock value upon retirement or separation rather than immediate company stock. Such awards are commonly part of executive compensation or deferred pay arrangements and do not necessarily indicate buying or selling activity in the open market.