MILLER WILLIAM I 4

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.