Bush Jennifer Mary 4

What Happened

• Jennifer Mary Bush, Vice President & President — Power Systems at Cummins, exercised stock options to acquire 4,270 shares (3,200 @ $142.12 and 1,070 @ $163.43) for a combined exercise cost of $629,654.
• The same day(s) she sold 4,270 shares in open-market transactions for a combined ~$2,497,658 (multiple trades at weighted-average prices in the mid-$580s).
• Separately, 1,288 shares were surrendered/withheld to satisfy tax liabilities (reported as Payment of exercise price or tax liability) valued at $768,820. Transaction codes: M = option exercise, S = open-market sale, F = tax withholding.

Key Details

• Transaction dates: primarily 2026-02-10 (exercise and open-market sales); withholding recorded 2026-02-19. Filing date: 2026-02-23 (filed 13 days after the main transaction — late filing).
• Prices and values: exercised 3,200 shares @ $142.12 ($454,784) and 1,070 @ $163.43 ($174,870); open-market sales: 764 @ $586.19 ($447,852), 1,340 @ $584.01 ($782,571), 2,166 @ $585.06 ($1,267,235). Withheld shares: 1,288 @ $596.91 ($768,820).
• Footnotes note weighted-average sale prices and price ranges for the multiple sale trades; reporting person will provide breakdown upon request (F1–F3). F4: shares withheld to satisfy tax liabilities relating to earned performance shares.
• Shares owned after transaction: Not stated in this Form 4 filing.
• Timeliness: The Form 4 was filed 13 days after the primary transaction date (late filing).

Context

• This looks like an option exercise with immediate sales (cashless-style outcome): options were exercised and the resulting shares were largely sold in the open market, with some shares withheld to cover taxes.
• Sales by executives are common for covering exercise costs and tax obligations; sales do not by themselves indicate a change in company outlook.
• Codes: M = exercised/converted derivative; S = sale; F = withholding for taxes.