MILLER WILLIAM I 4
4 · CUMMINS INC · Filed Feb 13, 2026
Research Summary
AI-generated summary of this filing
Cummins (CMI) Director William I. Miller Sells 18,107 Shares (~$10.8M)
What Happened
- William I. Miller, a director of Cummins Inc. (CMI), sold a total of 18,107 Cummins shares in multiple open-market transactions on February 11, 2026. The sales occurred at per-share prices ranging roughly from $591.41 to $604.15, producing aggregate cash proceeds of about $10.8 million. These were sales (not purchases or option exercises).
Key Details
- Transaction date: February 11, 2026; Form 4 filed February 13, 2026 (appears timely).
- Total shares sold: 18,107; approximate total proceeds: $10,811,646.
- Per-share prices reported (weighted averages across multiple trades): $598.07, $602.26, $596.64, $604.15, $600.11, $591.41, $595.50, $593.50, $597.40. Reported price ranges for those weighted averages include: 602.23–602.45; 596.01–597.00; 604.00–604.15; 599.64–600.55; 591.10–591.87; 595.00–595.94; 593.29–593.91; 597.01–597.94 (the filing notes the seller can provide per-trade breakdowns on request).
- Footnotes: the filing notes weighted-average pricing and provides specific intra-range prices upon request. It also indicates some shares reported include dividend-equivalent shares credited under the Cummins Deferred Compensation Plan for Non-Employee Directors (47.5098 and 307.6142 dividend-equivalent shares referenced).
- Shares owned after transaction: not specified in the information provided in this summary.
- Type of transaction code: S = Sale. No 10b5-1 plan, tax-withholding, or other sale-plan details were stated in the supplied excerpt.
Context
- Sales by non-employee directors are common for liquidity or portfolio reasons; they do not by themselves signal management's view of the company's near-term prospects. Purchases generally attract more attention as potential positive signals; this filing documents routine open-market disposals.
Insider Transaction Report
Form 4
CUMMINS INCCMI
MILLER WILLIAM I
Director
Transactions
- Sale
Common
2026-02-11$598.07/sh−40$23,923→ 52,309.944 total - Sale
Common
[F1]2026-02-11$602.26/sh−501$301,732→ 51,808.944 total - Sale
Common
[F2]2026-02-11$596.64/sh−1,476$880,641→ 50,332.944 total - Sale
Common
[F3]2026-02-11$604.15/sh−1,608$971,473→ 48,724.944 total - Sale
Common
[F4]2026-02-11$600.11/sh−1,697$1,018,387→ 47,027.944 total - Sale
Common
[F5]2026-02-11$591.41/sh−1,810$1,070,452→ 45,217.944 total - Sale
Common
[F6]2026-02-11$595.50/sh−1,909$1,136,810→ 43,308.944 total - Sale
Common
[F7]2026-02-11$593.50/sh−2,000$1,187,000→ 41,308.944 total - Sale
Common
[F8][F9]2026-02-11$597.40/sh−7,066$4,221,228→ 34,242.944 total
Holdings
- 167(indirect: By Children)
Common
- 5,184.133
Stock Units
[F10][F11]→ Common (5,184.133 underlying)
Footnotes (11)
- [F1]The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $602.23 - $602.45. The reporting person undertakes to provide to Cummins Inc., any security holder of Cummins Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range indicated.
- [F10]These securities generally do not carry a conversion price, exercise date or expiration date.
- [F11]Includes 47.5098 dividend equivalent shares credited under the Cummins Inc. Deferred Compensation Plan for Non-Employee Directors since the most recently filed Form 4.
- [F2]The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $596.01 - $597.00. The reporting person undertakes to provide to Cummins Inc., any security holder of Cummins Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range indicated.
- [F3]The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $604.00 - $604.15. The reporting person undertakes to provide to Cummins Inc., any security holder of Cummins Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range indicated.
- [F4]The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $599.64 - $600.55. The reporting person undertakes to provide to Cummins Inc., any security holder of Cummins Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range indicated.
- [F5]The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $591.10 - $591.87. The reporting person undertakes to provide to Cummins Inc., any security holder of Cummins Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range indicated.
- [F6]The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $595.00 - $595.94. The reporting person undertakes to provide to Cummins Inc., any security holder of Cummins Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range indicated.
- [F7]The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $593.29 - $593.91. The reporting person undertakes to provide to Cummins Inc., any security holder of Cummins Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range indicated.
- [F8]The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $597.01 - $597.94. The reporting person undertakes to provide to Cummins Inc., any security holder of Cummins Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range indicated.
- [F9]Includes 307.6142 dividend equivalent shares credited under the Cummins Inc. Deferred Compensation Plan for Non-Employee Directors since the most recently filed Form 4.
Signature
/s/ Nicole Y. Lamb-Hale, Attorney-in-Fact|2026-02-13