FEIGHT R PRESTON 4

What Happened Feight R. Preston, CEO of PACCAR (PCAR), exercised stock option/derivative awards and immediately sold the resulting shares on three days. On Jan 30, Feb 2 and Feb 3, 2026 he exercised 9,258 shares each day at $62.87 per share (cost $582,020 per exercise) and sold those same 9,258 shares each day at weighted-average prices of $122.39, $123.65 and $127.44, respectively. Total shares exercised and sold: 27,774; total gross proceeds from the sales: approximately $3,457,668. These transactions are effectively cashless exercises (exercise followed by immediate open-market sale).

Key Details

• Dates and transactions:
  • 2026-01-30: Exercised 9,258 shares @ $62.87 (acquired, $582,020); sold 9,258 shares @ weighted avg $122.39 (proceeds $1,133,108). (Footnote F1: sale prices ranged $121.19–$123.17.)
  • 2026-02-02: Exercised 9,258 shares @ $62.87 (acquired, $582,020); sold 9,258 shares @ weighted avg $123.65 (proceeds $1,144,747). (F2: range $122.13–$124.63.)
  • 2026-02-03: Exercised 9,258 shares @ $62.87 (acquired, $582,020); sold 9,258 shares @ weighted avg $127.44 (proceeds $1,179,813). (F3: range $125.10–$128.32.)
• Total exercised: 27,774 shares; total cash paid for exercises: $1,746,060; total sale proceeds: ~$3.46M.
• Shares owned after the transactions: not specified in the provided excerpt — see full Form 4 for ending holdings.
• Footnote F4 notes certain restricted stock units (RSUs) are in a deferred phantom stock account under the LTIP and convert 1:1 to common stock when vesting conditions are met.
• Transaction codes: M = exercise/conversion of derivative; S = open-market sale. Filing appears timely (Form 4 filed 2026-02-03 covering transactions through 2026-02-03).

Context

• Because the exercises were followed by immediate sales, these are cashless exercises rather than outright purchases intended to increase a long-term stake. Sales like these are commonly used to cover option exercise costs and taxes or to monetize vested awards; they do not by themselves indicate CEO sentiment about the company’s prospects.
• For a full view of post-transaction ownership and any additional context (e.g., whether sales were to cover tax withholding), consult the complete Form 4 filing.