WALTON MICHAEL K 4

What Happened

• Michael K. Walton, Vice President and General Counsel of PACCAR (PCAR), received Long Term Incentive Plan (LTIP) awards on 2026-02-06. The filing reports two derivative awards: 5,674 units (derivative option award) and 1,958 restricted stock units (RSUs) with a reported grant value of $127.35 per share, totaling $249,351.
• These were awards (compensation grants), not open-market purchases or sales. The 5,674-unit award is an option grant (no exercise price reported on this Form 4). The 1,958 RSUs are convertible one-for-one to common stock upon satisfaction of vesting conditions.

Key Details

• Transaction date: 2026-02-06; Form 4 filed: 2026-02-10 (filed within the required two business days).
• Awards reported:
  • 5,674 derivative units — option to buy awarded under PACCAR LTIP (footnote F1); price shown as N/A on the Form 4.
  • 1,958 RSUs — awarded at $127.35 per share, reported value $249,351; convertible one-for-one to common stock upon vesting (footnote F3).
• Shares owned after the transaction: not specified in this filing.
• Footnotes of note:
  • F1: Option awarded under LTIP.
  • F3: RSUs under LTIP that vest in four equal installments (commencing March 1 following award, then Jan 1 of each of the next three years).
• Filing timeliness: timely (filed within the required two business days after the Feb 6 transaction).

Context

• These entries are compensation awards to an executive and do not represent buying or selling stock in the open market. RSUs and options typically vest over time; they do not reflect immediate purchases or sales unless an accompanying exercise-and-sale is reported.
• For retail investors, such awards are routine executive compensation and not a direct bullish or bearish trading signal by themselves.