BANEY KEVIN D 4

What Happened
Kevin D. Baney, Executive Vice President of PACCAR (PCAR), exercised 9,672 derivative awards and immediately sold those 9,672 shares on February 3, 2026. He paid $50.79 per share to acquire the shares (total cost $491,209) and sold them in the open market at a weighted average price of $126.53 per share for total proceeds of $1,223,803. The filing shows the exercise (derivative conversion) and the corresponding sale of the same shares on the same day.

Key Details

• Transaction date: 2026-02-03.
• Exercise: 9,672 shares @ $50.79 (total cost $491,209).
• Sale: 9,672 shares @ weighted avg $126.53 (total proceeds $1,223,803). Sale price range: $126.39–$126.74 (per footnote).
• The filing shows the derivative exercise and the sale of those shares — effectively a same-day (cashless-style) exercise and liquidation.
• Footnote F2: Restricted stock units in a deferred phantom stock account under the LTIP convert one-for-one to common stock upon vesting (disclosed in filing).
• Shares owned after the transaction: not specified in the provided filing excerpt.
• Filing timeliness: reported for the same date (no late filing indicated in the excerpt).

Context
Because the exercised shares were sold the same day, this transaction functions like a cashless exercise: the insider converted derivatives to shares and immediately sold them. Sales by executives are often routine (to cover exercise costs, taxes, or diversify) and do not by themselves indicate company performance — the filing is factual disclosure required by the SEC.