DOZIER C MICHAEL 4

What Happened
Michael Dozier, Executive Vice President of PACCAR (PCAR), had 1,794 restricted stock units (RSUs) convert to common stock on March 1, 2026 (reported on Form 4). Following the vesting, 706 of those shares were withheld on March 2, 2026 to satisfy tax withholding obligations at $126.09 per share, amounting to $89,020. The RSU conversion shows an acquisition of shares via derivative conversion (code M) and the withholding is reported as a disposition for tax payment (code F).

Key Details

• Transaction dates: RSU conversion on 2026-03-01; shares withheld for taxes on 2026-03-02.
• Reported prices/values: Withheld 706 shares @ $126.09 = $89,020. The RSU conversion lists $0.00 as the acquisition price (typical for vested RSUs).
• Shares owned after transaction: Not specified in this filing.
• Footnotes: F1/F3 — RSUs awarded under PACCAR’s LTIP convert one-for-one to common stock upon vesting; F2 — shares withheld to pay tax liability (net share settlement).
• Transaction codes: M = exercise/conversion of derivative (RSU vesting); F = withholding for tax payment.
• Filing timeliness: Reported on 2026-03-02 for a 2026-03-01 vesting — appears to be a timely Form 4 filing.

Context
This appears to be routine vesting of long-term incentive RSUs with net share withholding to cover taxes, not an open-market sale. Net share settlement (withholding) is common and should not necessarily be interpreted as a directional signal about the insider’s view of the company.