Poplawski Brice J 4

What Happened
Brice J. Poplawski, Senior Vice President & Chief Financial Officer of PACCAR, exercised derivative awards to acquire 2,200 shares at $71.95 per share (total cost $158,290) on February 12, 2026, and on the same day disposed of 2,200 shares in an open-market sale at $130.41 per share (total proceeds $286,902). The transactions indicate an immediate sale following the exercise; gross difference between exercise cost and sale proceeds is about $128,612.

Key Details

• Date: 2026-02-12
• Exercise (M): 2,200 shares acquired @ $71.95 = $158,290
• Open-market sale (S): 2,200 shares sold @ $130.41 = $286,902
• Derivative disposition entry also recorded showing 2,200 shares disposed at $130.41 (reflects conversion/sale of derivative shares)
• Estimated gross gain on the roundtrip: ~$128,612 (pre-tax, before fees)
• Shares owned after the transactions: not specified in the provided excerpt of the filing
• Footnote F1: Restricted stock units are held in a deferred phantom stock account under the Long Term Incentive Plan (LTIP) and convert one-for-one to common stock upon vesting
• Filing date: Form 4 filed Feb 12, 2026 (no late filing indicated in provided data)

Context
This pattern—exercising derivative awards and promptly selling the resulting shares—is commonly a cashless exercise to cover the exercise cost and tax obligations rather than a straightforward purchase indicating new bullish conviction. Sales by executives are routine liquidity events and should be interpreted as factual disclosures rather than statements about the company’s outlook.